Pandora A/S Ord (PNDZF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.879 Good morning, everyone, and welcome to the conference call for Pandora's Q2 results. 00:00:04.879 -- 00:00:08.725 I'm Bilal Aziz from the Investor Relations team, and I'm joined here by our CEO, Alexander 00:00:08.725 -- 00:00:12.631 Lachik, CFO, Anders Boyer, and the rest of the IR team. 00:00:12.631 -- 00:00:15.315 As usual, there will be a Q&A session at the end of the call. 00:00:15.315 -- 00:00:20.984 If you could limit yourself today to two questions at a time, that would be wonderful. 00:00:20.984 -- 00:00:24.831 If you could please pay attention to the disclaimer on slide two, and then turn to slide 00:00:24.831 -- 00:00:27.824 three. I will now turn over to Alexander. 00:00:27.824 -- 00:00:32.916 Thank you Bilal and welcome everyone. As usual, I'll start with a quick snapshot 00:00:32.916 -- 00:00:34.980 of the overall quarter 00:00:34.980 -- 00:00:38.468 for Q2. I think it's fair to say it's been another quarter of solid performance from 00:00:38.468 -- 00:00:43.399 Pandora, especially when you consider that we delivered these results in a very challenging 00:00:43.399 -- 00:00:48.428 external environment. That's not only when it comes to consumer sentiment, but also when 00:00:48.428 -- 00:00:54.477 it comes to significant volatility in FX, commodity, and headwinds through tariffs. 00:00:54.477 -- 00:00:58.903 Despite this, we're progressing on our overall mission, making Pandora known as a full 00:00:58.903 -- 00:01:03.970 jewelry brand. As you know, this is the main focus of our Phoenix strategy. 00:01:03.970 -- 00:01:09.218 For Q2, we delivered 3% like-for-like growth, which alongside network expansion 00:01:09.218 -- 00:01:14.330 drives 8% overall organic growth. Once again, you'll see within the numbers 00:01:14.330...