Pandora A/S Ord (PNDZF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.520 -- 00:00:04.666 Good morning, everyone, and welcome to the conference call for Pandora's first quarter 00:00:04.666 -- 00:00:09.233 results for 2025. I'm Bilal Aziz from the Investor Relations team, and I'm joined here 00:00:09.233 -- 00:00:14.280 by our CEO, Alexander Lasik, CFO Anders Boyer, and the rest of the IR team. 00:00:14.280 -- 00:00:17.865 As some of you may understand, we have a bit more to cover than usual today, but there 00:00:17.865 -- 00:00:22.452 will be a Q&A at the end. If you could kindly limit yourself to two questions at a time, 00:00:22.452 -- 00:00:24.455 that would be wonderful. 00:00:24.455 -- 00:00:28.681 Please pay notice to the disclaimer on slide two and turn to slide three. 00:00:28.681 -- 00:00:31.047 I will now hand over to Alexander. 00:00:31.047 -- 00:00:35.936 Thank you, Bilal, and welcome everyone. It's actually not been that long since we spoke 00:00:35.936 -- 00:00:41.026 to you after the 24 results, but I'm sure for some it's felt like a long 00:00:41.026 -- 00:00:44.272 time given the ever-changing world we live in. 00:00:44.272 -- 00:00:49.161 For Pandora, you'll be pleased to know it's been more of the same in Q1 of 25. 00:00:49.161 -- 00:00:55.077 We basically delivered another solid quarter despite the noises around us. 00:00:55.077 -- 00:00:59.061 We generally like to keep things simple in this company, and that means always coming 00:00:59.061 -- 00:01:03.425 back to what works for us, the Fenix strategy and our overall mission to build a full 00:01:03.425 -- 00:01:07.329 jewelry brand. And that's what helped drive the Q1 performance. 00:01:07.329 -- 00:01:13.014 We delivered 6% like-for-like growth, which helped drive organic of seven. 00:01:13.014 -- 00:01:17.779 Once again, you'll see within the n...