Pandora Balance Sheet

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,305	2,394	1,397	794	1,043
Trading Asset Securities	9	-	-	-	-
Cash & Short-Term Investments	1,314	2,394	1,397	794	1,043
Cash Growth	-45.11%	71.37%	75.94%	-23.87%	-64.18%
Accounts Receivable	1,235	1,308	1,397	1,262	1,009
Other Receivables	1,094	935	952	1,179	806
Receivables	2,329	2,243	2,349	2,441	1,815
Inventory	4,883	4,426	4,166	4,211	2,991
Other Current Assets	1,700	163	86	285	139
Total Current Assets	10,226	9,226	7,998	7,731	5,988
Property, Plant & Equipment	9,152	8,472	6,525	5,204	4,348
Goodwill	5,020	5,126	4,914	4,822	4,418
Other Intangible Assets	3,343	3,106	2,886	2,746	2,675
Long-Term Deferred Tax Assets	1,566	1,530	1,260	1,261	891
Other Long-Term Assets	296	298	215	249	222
Total Assets	29,603	27,758	23,798	22,013	18,542
Accounts Payable	4,623	3,894	3,211	3,131	3,267
Current Portion of Long-Term Debt	1,627	397	314	3,508	274
Current Portion of Leases	1,475	1,379	1,116	950	887
Current Income Taxes Payable	685	871	583	1,068	1,003
Current Unearned Revenue	271	237	185	136	163
Other Current Liabilities	2,571	3,099	2,644	2,388	2,652
Total Current Liabilities	11,252	9,877	8,053	11,181	8,246
Long-Term Debt	7,729	7,831	6,972	1,017	1,041
Long-Term Leases	4,193	3,794	2,765	2,113	1,724
Long-Term Deferred Tax Liabilities	462	102	164	172	113
Other Long-Term Liabilities	685	646	489	363	417
Total Liabilities	24,321	22,250	18,443	14,846	11,541
Common Stock	79	82	89	96	100
Retained Earnings	8,176	7,795	9,010	9,474	9,523
Treasury Stock	-4,236	-3,228	-4,353	-3,320	-3,416
Comprehensive Income & Other	1,263	859	609	917	794
Shareholders' Equity	5,282	5,508	5,355	7,167	7,001
Total Liabilities & Equity	29,603	27,758	23,798	22,013	18,542
Total Debt	15,024	13,401	11,167	7,588	3,926
Net Cash (Debt)	-13,710	-11,007	-9,770	-6,794	-2,883
Net Cash Per Share	-177.62	-136.03	-113.50	-72.51	-28.92
Filing Date Shares Outstanding	74.58	78.82	82.21	89.4	95.74
Total Common Shares Outstanding	74.58	78.82	82.21	89.4	95.74
Working Capital	-1,026	-651	-55	-3,450	-2,258
Book Value Per Share	70.82	69.88	65.14	80.17	73.13
Tangible Book Value	-3,081	-2,724	-2,445	-401	-92
Tangible Book Value Per Share	-41.31	-34.56	-29.74	-4.49	-0.96
Land	1,766	1,389	1,286	1,302	1,193
Machinery	5,914	5,274	4,661	3,938	3,582
Construction In Progress	269	396	263	289	91

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.