Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2023-12-31 | 23798000000 | dkk |
| ifrs-full:Assets | 2022-12-31 | 22013000000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2023-01-01 | 2023-12-31 | 28136000000 | dkk |
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 26463000000 | dkk |
XML
See the xml submitted here:
XML: INVALID
Separator
The full data:
<?xml version="1.0" encoding="UTF-8" standalone="no"?>
<xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance"
xmlns="http://www.w3.org/1999/xhtml"
xmlns:arr="http://xbrl.dcca.dk/arr"
xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2020-02-12"
xmlns:cmn="http://xbrl.dcca.dk/cmn"
xmlns:sob="http://xbrl.dcca.dk/sob"
xmlns:link="http://www.xbrl.org/2003/linkbase"
xmlns:ifrs-full="https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full"
xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
xmlns:ix="http://www.xbrl.org/2013/inlineXBRL"
xmlns:mrv="http://xbrl.dcca.dk/mrv"
xmlns:fsa="http://xbrl.dcca.dk/fsa"
xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
xmlns:gsd="http://xbrl.dcca.dk/gsd"
xmlns:PAN="http://xbrl.pandoragroup.com/2023-12-31"
xmlns:xlink="http://www.w3.org/1999/xlink"
id="DKGAAP"
xml:lang="en">
<link:schemaRef xlink:href="http://archprod.service.eogs.dk/taxonomy/20221001/entryDanishGAAPExcludingBalanceSheetIncomeStatementIncludingManagementsReview20221001.xsd"
xlink:type="simple"/>
<xbrli:context id="ctx-1">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-4">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2023-12-31</xbrli:instant>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx-5">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2022-12-31</xbrli:instant>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx-2">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx-37">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2023-12-31</xbrli:instant>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-49">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2022-01-01</xbrli:startDate>
<xbrli:endDate>2022-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-38">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfExecutiveBoardDimension">
<cmn:memberOfBoardIdentifier>1</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-39">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfExecutiveBoardDimension">
<cmn:memberOfBoardIdentifier>2</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-40">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>1</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-44">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>5</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-41">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>2</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-45">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>6</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-42">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>3</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-46">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>7</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-43">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>4</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-47">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfAuditorDimension">
<cmn:auditorIdentifier>1</cmn:auditorIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx-48">
<xbrli:entity>
<xbrli:identifier scheme="http://standards.iso.org/iso/17442">5299007OWYZ6I1E46843</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2023-01-01</xbrli:startDate>
<xbrli:endDate>2023-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:ConsolidatedSoloDimension">cmn:ConsolidatedMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="cmn:IdentificationOfAuditorDimension">
<cmn:auditorIdentifier>2</cmn:auditorIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:unit id="pure">
<xbrli:measure>xbrli:pure</xbrli:measure>
</xbrli:unit>
<gsd:NameOfSubmittingEnterprise contextRef="ctx-1" id="s8_notesesefdkgaap__9__291" xml:lang="en">Pandora A/S</gsd:NameOfSubmittingEnterprise>
<gsd:NameOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__9__280" xml:lang="en">Pandora A/S</gsd:NameOfReportingEntity>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx-1" id="s8_notesesefdkgaap__9__292" xml:lang="en">Havneholmen 17-19</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx-1" id="s8_notesesefdkgaap__9__281" xml:lang="en">Havneholmen</gsd:AddressOfReportingEntityStreetName>
<gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx-1" id="s8_notesesefdkgaap__9__282" xml:lang="en">17-19</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-1" id="s8_notesesefdkgaap__9__293" xml:lang="en">1561 Copenhagen V</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
<gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx-1" id="s8_notesesefdkgaap__9__283" xml:lang="en">1561</gsd:AddressOfReportingEntityPostCodeIdentifier>
<gsd:AddressOfReportingEntityDistrictName contextRef="ctx-1" id="s8_notesesefdkgaap__9__284" xml:lang="en">Copenhagen V</gsd:AddressOfReportingEntityDistrictName>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__9__287" xml:lang="en">28505116</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx-1" id="s8_notesesefdkgaap__9__294" xml:lang="en">28505116</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<mrv:DescriptionOfTheBusinessModelOfTheEntityCorporateSocialResponsibility contextRef="ctx-1" id="s8_notesesefdkgaap__9__9" xml:lang="en">OUR BUSINESS MODELA FULLY INTEGRATEDVALUE CHAINAt Pandora, our commitment is to operate as a sustainable business driving industry-leading growth and profitability, while lowering our impact on the planet and creating positive outcomes for people and communities touched by our business. With almost 95% of our jewellery produced in-house and around 80% of our revenue coming through our own direct-to-consumer channels, our fully integrated value chain enables scale advantages, speed and agility as well as a coherent brand experience.KEY RESOURCES Dedicated people, natural resources,crafting facilities and cash flowsINNOVATIVE DESIGNRESPONSIBLE SOURCINGHAND-FINISHEDJEWELLERYPACKAGING & DISTRIBUTIONSTRONG MARKETING & BRANDOMNICHANNEL RETAILPRODUCT REUSE & REPAIRVALUE CREATEDCustomers & markets⢠~750 million customer visits to our stores and online. ⢠More than 107 million pieces of high-quality jewellery sold. ⢠Presence in more than 100 countries.Employees & community⢠An average of 33,000 employees globally.⢠Social causes supported with UNICEF.Climate & environment⢠96,026 tonnes CO2e reduced compared to 2019 baseline. ⢠Sourcing 100% recycled silver and gold as of December 2023.Shareholders & society⢠DKK 6.4 billion in dividends and share buybacks paid back to our shareholders.⢠DKK 1.8 billion total corporate tax contribution.</mrv:DescriptionOfTheBusinessModelOfTheEntityCorporateSocialResponsibility>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="s8_notesesefdkgaap__9__16" xml:lang="en">PEOPLEPOWERED BY OUR PEOPLE Shifting customer perception of Pandora to a full jewellery brand is driven by our strongest advocates: our talented people. As we continue executing on the Phoenix strategy, we reinforce this strength by improving employee retention and creating a next-level employee experience.A workplace as diverse and inclusive as our jewelleryPandora is a global organisation with 33,000 employees, representing more than 130 nationalities and spanning professional disciplines like crafting, distribution, retail and office. We believe that inclusion, diversity and fairness are core tenets of a responsible growing business and are key in our strategic priorities and business performance.Strong business results start with our people and a healthy workplace â not only what we achieve, but how we get there. We regularly ask Pandora people to rate their experience and provide feedback to measure employee engagement and get a rating of Pandoraâs efforts to create and maintain a diverse and inclusive work environment. In the most recent survey in October 2023, we achieved record results. The employee Net Promoter Score (eNPS) reached a record-high of 60, placing us in the top 5% of Workday Peakonâs benchmark in the consumer sector globally. Pandoraâs overall average inclusiveness score was 8.7 on a scale from 1 to 10 â a slight improvement from 8.6 in 2022, placing us in the top 25% of the consumer sector. Based on the survey, leaders and teams review the results, including comments, and pinpoint areas for improvement and identify action plans for both the short and long term. Effective and engaged leadersLeaders play an essential role in developing employees and in helping them thrive. In 2023, we continued our global leadership development programme, RISE, to better guide and inspire our leaders to develop, coach and enable performance for teams. At the end of this year, 1,379 leaders had completed the course and provided exceptional feedback. When the programme concludes, nearly 4,000 leaders will have completed the course. Additionally, more than 350 top leaders receive continuous talent training to ensure strong leadership growth and secure succession. In our 2023 survey, employees scored Leadership Effectiveness at 8.4 on a scale from 1 to 10, a slight increase compared to 8.3 in 2022. Working towards gender parityPandora also made significant headway with the diversity 1and inclusion target. Our targets for balanced gender representation in leadership are to achieve 33% women in senior leadership by 2025 and reach gender parity no later than 2030.In 2023, women in senior leadership increased to 34%, achieved ahead of schedule and marking an increase from 29% in 2022.We are committed to eliminating discrimination in executive recruitment and actively encouraging individuals of all genders, with a specific focus on empowering women to explore managerial roles. People systems to match our potentialCreating a next-level employee experience also means we need the digital infrastructure to best support employees and leaders in their daily work, personal development, goal setting and more. In 2022, Pandora launched a new digital full-year process. The system allows for flexible, integrated and collaborative work on performance goals, personal development, 1 For these targets, we define senior leadership as positions at Vice President level and above, including the Board of Directors.succession planning and more related to critical people processes. With these updates, we have a wider utilisation of data through enhanced analytics capabilities. Looking into 2024, a new workforce management system will be rolled out to retail colleagues in key markets. This system will help make daily managerial tasks simpler and faster and is a part of an ecosystem of programmes designed to better support our retail colleagues and improve employee retainment. The system will enable retail colleagues to spend most of their time where it matters most â face-to-face with customers. The workforce management system will also collect data to improve the daily work lives of all colleagues. Attracting prime talent Under our employer brand, Craft the Incredible, Pandora has attracted highly skilled talent from leading brands and across other industries. In 2023, we attracted around 900 office colleagues and hired more than 3,500 retail colleagues for our peak trading period in the fourth quarter. In September, Pandora was honoured to be featured on TIME Magazine's Worldâs Best Companies list for 2023. The list was published by TIME Magazine in collaboration with Statista and represents a compilation of outstanding companies across industries that were assessed on three criteria: employee satisfaction, revenue growth and sustainability. The global recognition underlines Pandoraâs steadfast commitment to building a great workplace, a healthy business and lead the industry within sustainability. Everything we do is made possible by our 33,000 employees that each play a big part in giving a voice to peopleâs loves. GENDER DISTRIBUTION IN MANAGEMENTBoard of Directors2022 2023Members of Board of Directors, number 7 7Underrepresented gender in Board of Directors, % 43% 43%Target, % 40%Fulfilment year 20271Leadership Team in Pandora A/SMembers of Leadership Team Pandora A/S, number 13 15Underrepresented gender in Leadership Team Pandora A/S, % 23% 20%Target, % 40%Fulfilment year 2027It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.1 The Leadership Team in Pandora A/S includes members of the Executive Management (first level) and persons with managerial responsibility who report directly to the members of the first level (second level).</mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-1" id="s8_notesesefdkgaap__9__11-1" xml:lang="en">PEOPLEPOWERED BY OUR PEOPLE Shifting customer perception of Pandora to a full jewellery brand is driven by our strongest advocates: our talented people. As we continue executing on the Phoenix strategy, we reinforce this strength by improving employee retention and creating a next-level employee experience.A workplace as diverse and inclusive as our jewelleryPandora is a global organisation with 33,000 employees, representing more than 130 nationalities and spanning professional disciplines like crafting, distribution, retail and office. We believe that inclusion, diversity and fairness are core tenets of a responsible growing business and are key in our strategic priorities and business performance.Strong business results start with our people and a healthy workplace â not only what we achieve, but how we get there. We regularly ask Pandora people to rate their experience and provide feedback to measure employee engagement and get a rating of Pandoraâs efforts to create and maintain a diverse and inclusive work environment. In the most recent survey in October 2023, we achieved record results. The employee Net Promoter Score (eNPS) reached a record-high of 60, placing us in the top 5% of Workday Peakonâs benchmark in the consumer sector globally. Pandoraâs overall average inclusiveness score was 8.7 on a scale from 1 to 10 â a slight improvement from 8.6 in 2022, placing us in the top 25% of the consumer sector. Based on the survey, leaders and teams review the results, including comments, and pinpoint areas for improvement and identify action plans for both the short and long term. Effective and engaged leadersLeaders play an essential role in developing employees and in helping them thrive. In 2023, we continued our global leadership development programme, RISE, to better guide and inspire our leaders to develop, coach and enable performance for teams. At the end of this year, 1,379 leaders had completed the course and provided exceptional feedback. When the programme concludes, nearly 4,000 leaders will have completed the course. Additionally, more than 350 top leaders receive continuous talent training to ensure strong leadership growth and secure succession. In our 2023 survey, employees scored Leadership Effectiveness at 8.4 on a scale from 1 to 10, a slight increase compared to 8.3 in 2022. Working towards gender parityPandora also made significant headway with the diversity 1and inclusion target. Our targets for balanced gender representation in leadership are to achieve 33% women in senior leadership by 2025 and reach gender parity no later than 2030.In 2023, women in senior leadership increased to 34%, achieved ahead of schedule and marking an increase from 29% in 2022.We are committed to eliminating discrimination in executive recruitment and actively encouraging individuals of all genders, with a specific focus on empowering women to explore managerial roles. People systems to match our potentialCreating a next-level employee experience also means we need the digital infrastructure to best support employees and leaders in their daily work, personal development, goal setting and more. In 2022, Pandora launched a new digital full-year process. The system allows for flexible, integrated and collaborative work on performance goals, personal development, 1 For these targets, we define senior leadership as positions at Vice President level and above, including the Board of Directors.succession planning and more related to critical people processes. With these updates, we have a wider utilisation of data through enhanced analytics capabilities. Looking into 2024, a new workforce management system will be rolled out to retail colleagues in key markets. This system will help make daily managerial tasks simpler and faster and is a part of an ecosystem of programmes designed to better support our retail colleagues and improve employee retainment. The system will enable retail colleagues to spend most of their time where it matters most â face-to-face with customers. The workforce management system will also collect data to improve the daily work lives of all colleagues. Attracting prime talent Under our employer brand, Craft the Incredible, Pandora has attracted highly skilled talent from leading brands and across other industries. In 2023, we attracted around 900 office colleagues and hired more than 3,500 retail colleagues for our peak trading period in the fourth quarter. In September, Pandora was honoured to be featured on TIME Magazine's Worldâs Best Companies list for 2023. The list was published by TIME Magazine in collaboration with Statista and represents a compilation of outstanding companies across industries that were assessed on three criteria: employee satisfaction, revenue growth and sustainability. The global recognition underlines Pandoraâs steadfast commitment to building a great workplace, a healthy business and lead the industry within sustainability. Everything we do is made possible by our 33,000 employees that each play a big part in giving a voice to peopleâs loves. GENDER DISTRIBUTION IN MANAGEMENTBoard of Directors2022 2023Members of Board of Directors, number 7 7Underrepresented gender in Board of Directors, % 43% 43%Target, % 40%Fulfilment year 20271Leadership Team in Pandora A/SMembers of Leadership Team Pandora A/S, number 13 15Underrepresented gender in Leadership Team Pandora A/S, % 23% 20%Target, % 40%Fulfilment year 2027It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.1 The Leadership Team in Pandora A/S includes members of the Executive Management (first level) and persons with managerial responsibility who report directly to the members of the first level (second level).SUSTAINABILITY SUSTAINABILITY AS A CATA LYST FOR GROWTHLeading the jewellery industry on sustainability, Pandora is on track to reduce carbon emissions by 50% across our full value chain by 2030. We have shifted to sourcing 100% recycled silver and gold as of December 2023, well ahead of our 2025 target. We further ended 2023 at 34% women in leadership, up from 29% in 2022.Our commitment to sustainability remains a cornerstone of our Phoenix business strategy. In 2023, we continued to steer our business towards long-term growth, minimise our environmental footprint and generate meaningful benefits for the individuals and communities we serve.Sustainability is embedded across Pandora, from design, sourcing and crafting to how we bring our jewellery to customers and extending product life through light repair services in many of our owned and operated stores. This is not just a choice; it is our obligation as a global brand, and it is one of the keys to our companyâs resilience.In 2023, we advanced on our ambitious sustainability targets to become a low-carbon, circular, diverse, inclusive and environmentally conscious business, addressing additional environmental topics, for example biodiversity. Reaching our climate target will not be a linear journey, and we expect an increase in our 2024 emissions (compared to 2023), notably as a result of the Vietnam crafting facility construction, retail network expansion, store refurbishments, increased supplier-specific data and overall growth. Discover more about our sustainability targets and progress on the following page or explore our analysis of biodiversity on page 21 in our Sustainability Report 2023. Our work on sustainability also has us focused on adhering to the growing body of international sustainability regulation, most notably the EU Corporate Sustainability Reporting Directive (CSRD). We have developed our initial double materiality assessment a year in advance of CSRD requirements. We further solidified our sustainability data reporting and governance to meet CSRD requirements. Our actions in 2023 include engaging with key functions across the organisation, forming a CSRD Task Force to ensure progress towards the first reporting in the full-year 2024 report and we included it as a key topic in sustainability governance bodies.At Pandora, strong financial performance and sustainability go hand in hand. Therefore, our financing is linked to our circularity and low-carbon targets. In 2023, we secured our third sustainability-linked financing instrument, and all company financing is now tied to sustainability performance. An EUR 500 million sustainability-linked bond was issued with final payment linked to performance on greenhouse gas emission reductions and the sourcing of recycled silver and gold. In 2023, we also launched a share buyback programme with a fee structure that includes a discount for Pandora. A portion of the discount is earmarked to accelerate our low-carbon strategy by investing in renewable energy and in energy efficiency projects at our crafting facilities in Thailand. Read more on page 14 in our Sustainability Report 2023. Our efforts on sustainability were again recognised by rating agencies, and for the second year in a row, Pandora received an 'A' score for transparency and performance on climate change by CDP. In addition, Pandora earned a spot stat TIME Magazineâs World's Best Companies list, ranking 21out of 750 companies for our sustainability ambitions and actions. Pandora is one of eight Danish companies featured on the prestigious list and the sole Danish company in its category (Apparel, Footwear & Sporting Goods).OUR SUSTAINABILITY TARGETS LOW-CARBON BUSINESSBY 2030 Reduce total greenhouse gas emissions by 50% from a 2019 baseline (Scopes 1, 2 and 3) by:⢠Reducing emissions in own operations by at least 90% to become carbon neutral (Scopes 1 and 2 market-based).⢠Reducing value chain emissions by 42% (Scope 3).BY 2040 Achieve net-zero emissions.PROGRESS AND STATUSWe decreased our total emissions by 27% compared to our 2019 baseline. In 2023, we reduced Scopes 1 and 2 emissions by 56% versus 2022 and 86% versus baseline. This was achieved primarily by continued sourcing of 100% renewable energy for our crafting facilities in Thailand. We also continued the roll-out of Renewable Energy Certificates for other owned and operated activities. In 2023, we reduced Scope 3 emissions by 21% versus 2022 and 15% compared to baseline. Key drivers include the shift to 100% recycled silver and gold, lower crafting material volumes and more supplier-specific data. Reaching our climate target will not be a linear journey, and we expect an increase in our 2024 emissions compared to 2023, notably as a result of the Vietnam crafting facility construction, retail network expansion, store refurbishments, increased supplier-specific data and overall growth. SCOPES 1 & 2In 2024, we plan to finalise the geographical roll-out of our renewable energy scale-up via the purchase of Renewable Energy Certificates. We will continue to explore new opportunities to source renewable energy to cover our retail volumes and support new energy projects in Thailand. SCOPE 3We will continue to focus on key impact areas, such as low-impact materials and services and transport-related reductions, along with scaled supplier engagement activities.CIRCULAR INNOVATIONBY 2025 Purchase 100% recycled silver and gold in the crafting of our jewellery.In 2023, we transitioned all our recycled silver and gold suppliers to certified sources.As of December 2023, we are only purchasing recycled silver and gold â both in our own crafting, and in components, and the average for the year ended at 97%. In 2024, we will continue our purchase of 100% recycled silver and gold and phase out leftover stock of non-recycled sources. INCLUSIVE, DIVERSE AND FAIR CULTURE1BY 2030 Achieve full gender parity. BY 2025 ⢠Reach 1/3 women in leadership.⢠Create an inclusive workplace and increase the share of underrepresented groups. ⢠30% of our brand ambassadors in our global communication to come from underrepresented groups.⢠30% of our branding content budget to be spent with suppliers owned by women or other underrepresented groups.1 Gender parity in leadership refers to an equal number (50/50) of men and women in leadership positions from VP-level and above (including the Board of Directors) with a +/- 5 percentage points variation.We achieved an inclusion score of 87% in our latest engagement survey, and will work to maintain this score in the coming years and in line with our 2025 target.We ended 2023 with 34% women in leadership positions, up from 29% in 2022. This means we have achieved our interim 2025 target of 33% women in leadership ahead of schedule. We will continue our work with succession plans and promotion processes to reach full gender parity by 2030. We have achieved our inclusion score target, so our focus will be on maintaining and improving our score. We plan to integrate a learning module into the recruitment process to highlight the responsibility of all hiring managers in taking a fair and balanced approach during hiring decisions.We will deliver inclusive training to the Executive Leadership Team and VP-level and above, with a focus on raising awareness of our responsibility as leaders to create an inclusive environment for colleagues. We will be reviewing inclusion within our recruitment process and succession planning to ensure a sustainable approach towards achieving gender parity. It has proven challenging to obtain the data we need while complying with data collection restrictions. We will continue to refine our approach in 2024 and aim to have it available for the next year.</mrv:StatementOfCorporateSocialResponsibility>
<mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers contextRef="ctx-4"
decimals="0"
id="s8_notesesefdkgaap__11__20"
unitRef="pure">7</mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers>
<mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers contextRef="ctx-5"
decimals="0"
id="s8_notesesefdkgaap__12__21"
unitRef="pure">7</mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers>
<mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-4"
decimals="2"
id="s8_notesesefdkgaap__11__22"
unitRef="pure">0.43</mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors>
<mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-5"
decimals="2"
id="s8_notesesefdkgaap__12__23"
unitRef="pure">0.43</mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors>
<mrv:TargetFigureInPercentageOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-4"
decimals="2"
id="s8_notesesefdkgaap__11__24"
unitRef="pure">0.40</mrv:TargetFigureInPercentageOfUnderrepresentedGenderBoardOfDirectors>
<mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-4" id="s8_notesesefdkgaap__11__25" xml:lang="en">2027</mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors>
<mrv:TotalNumberOfOtherManagementLevels contextRef="ctx-4"
decimals="0"
id="s8_notesesefdkgaap__11__30"
unitRef="pure">13</mrv:TotalNumberOfOtherManagementLevels>
<mrv:TotalNumberOfOtherManagementLevels contextRef="ctx-5"
decimals="0"
id="s8_notesesefdkgaap__12__30"
unitRef="pure">15</mrv:TotalNumberOfOtherManagementLevels>
<mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4"
decimals="2"
id="s8_notesesefdkgaap__11__31"
unitRef="pure">0.23</mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels>
<mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-5"
decimals="2"
id="s8_notesesefdkgaap__12__31"
unitRef="pure">0.20</mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels>
<mrv:TargetFigureInPercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4"
decimals="2"
id="s8_notesesefdkgaap__11__32"
unitRef="pure">0.40</mrv:TargetFigureInPercentageOfUnderrepresentedGenderOtherManagementLevels>
<mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4" id="s8_notesesefdkgaap__11__33" xml:lang="en">2027</mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderOtherManagementLevels>
<mrv:StatusOfAchievementOfTargetFigureOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__11__38" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:StatusOfAchievementOfTargetFigureOtherManagementLevels>
<mrv:PrimaryActionsForFulfillmentOfTargetFigureOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__11__37" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:PrimaryActionsForFulfillmentOfTargetFigureOtherManagementLevels>
<mrv:TheMainContentOfThePolicyOfTheUnderrepresentedGenderOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__11__36" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:TheMainContentOfThePolicyOfTheUnderrepresentedGenderOtherManagementLevels>
<mrv:StatementOfThePolicyToIncreaseThePercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__11__35" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:StatementOfThePolicyToIncreaseThePercentageOfUnderrepresentedGenderOtherManagementLevels>
<mrv:InformationOnEqualDistributionOfWomenAndMenOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__11__34" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:InformationOnEqualDistributionOfWomenAndMenOtherManagementLevels>
<mrv:PrimaryActionsForFulfillmentOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-2" id="s8_notesesefdkgaap__11__28" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:PrimaryActionsForFulfillmentOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors>
<mrv:StatusOfAchievementOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-2" id="s8_notesesefdkgaap__11__27" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:StatusOfAchievementOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors>
<mrv:InformationOnEqualDistributionOfWomenAndMenBoardOfDirectors contextRef="ctx-2" id="s8_notesesefdkgaap__11__26" xml:lang="en">It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.</mrv:InformationOnEqualDistributionOfWomenAndMenBoardOfDirectors>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-2" id="s8_notesesefdkgaap__9__17-1" xml:lang="en">INCLUSIVE, DIVERSE AND FAIR CULTURE1BY 2030 Achieve full gender parity. BY 2025 ⢠Reach 1/3 women in leadership.⢠Create an inclusive workplace and increase the share of underrepresented groups. ⢠30% of our brand ambassadors in our global communication to come from underrepresented groups.⢠30% of our branding content budget to be spent with suppliers owned by women or other underrepresented groups.1 Gender parity in leadership refers to an equal number (50/50) of men and women in leadership positions from VP-level and above (including the Board of Directors) with a +/- 5 percentage points variation.We achieved an inclusion score of 87% in our latest engagement survey, and will work to maintain this score in the coming years and in line with our 2025 target.We ended 2023 with 34% women in leadership positions, up from 29% in 2022. This means we have achieved our interim 2025 target of 33% women in leadership ahead of schedule. We will continue our work with succession plans and promotion processes to reach full gender parity by 2030. We have achieved our inclusion score target, so our focus will be on maintaining and improving our score. We plan to integrate a learning module into the recruitment process to highlight the responsibility of all hiring managers in taking a fair and balanced approach during hiring decisions.We will deliver inclusive training to the Executive Leadership Team and VP-level and above, with a focus on raising awareness of our responsibility as leaders to create an inclusive environment for colleagues. We will be reviewing inclusion within our recruitment process and succession planning to ensure a sustainable approach towards achieving gender parity. It has proven challenging to obtain the data we need while complying with data collection restrictions. We will continue to refine our approach in 2024 and aim to have it available for the next year. GENDER DISTRIBUTION IN MANAGEMENTBoard of Directors2022 2023Members of Board of Directors, number 7 7Underrepresented gender in Board of Directors, % 43% 43%Target, % 40%Fulfilment year 20271Leadership Team in Pandora A/SMembers of Leadership Team Pandora A/S, number 13 15Underrepresented gender in Leadership Team Pandora A/S, % 23% 20%Target, % 40%Fulfilment year 2027It is important to Pandora to offer an inclusive and diverse working environment, enabling diverse and creative thinking and ensuring equitable opportunities for all employees to realise their potential. Our Board of Directors, comprised of 7 members, has achieved an equal gender distribution of 43%. In 2023, the underrepresented gender was male, in 2022 female. In our Leadership Team in Pandora A/S, comprised of 13 members, we have not achieved an equal gender distribution (23%), as the representation of the underrepresented gender has not changed in 2023. In both 2023 and 2022, the underrepresented gender was female.We recognise there is more to do before we can reach our target of 40% in 2027. Whilst we have made progress, we have identified a need to increase the level of awareness across our leadership population. We have developed a programme of activities that has been deployed throughout 2023, and will continue in 2024, that includes senior leadership training on unconscious bias targeted at Executive Management and the Senior Leadership Team. We have also included unconscious bias training for all people leaders who engage in the process of hiring to ensure we can raise awareness and educate people leaders in their responsibility. Pandora is continually investing in developing our internal senior leadership talent. We have implemented succession plans for our Executive Management members and have taken a balanced approach in developing senior female leaders as part of their ongoing development plans.1 The Leadership Team in Pandora A/S includes members of the Executive Management (first level) and persons with managerial responsibility who report directly to the members of the first level (second level).</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:CorporateGovernanceReport contextRef="ctx-1" id="s8_notesesefdkgaap__9__10" xml:lang="en">CORPORATE GOVERNANCEPandora has established a corporate governance framework that emphasises accountability and transparency, thereby promoting responsible business practices and laying a solid foundation for sustained long-term value creation.Leadership structureThe corporate authority is divided between the Board of Directors (the Board) and Executive Management. The Board outlines the overall vision, strategy and objectives of Pandoraâs business activities and supervises the performance of Executive Management. In addition, the Board is responsible for embedding sustainability in Pandoraâs purpose, strategy and objectives. This includes reviewing sustainability performance and reporting, as well as monitoring and overseeing progress related to our sustainability strategy. The Board has established Audit, Remuneration and Nomination Committees, and members and chairs of these committees are appointed from within the Board. The committeesâ terms of reference are available at pandoragroup.com/investor/corporate-governance/governance-documents. Members of Executive Management are appointed by the Board. Executive Management is responsible for the day-to-day management and for the execution of Pandoraâs strategy. In addition, Pandora has an Executive Leadership Team. The team members are responsible for the day-to-day operations of their respective business areas, including sustainability and serve as a part of Pandoraâs overall leadership. Board of DirectorsCompositionThe Board is currently comprised of seven members, all of whom are elected at the Annual General Meeting for a one-year term. In accordance with the Danish Recommendations on Corporate Governance, all Board members are regarded as independent, except for Christian Frigast, who, due to his more than 12-year tenure on the Board, no longer maintains the independence status. The composition of the Board is intended to ensure relevant and complementary competencies and diversity. This approach is instrumental in supporting Pandoraâs strategic goals and vision, while ensuring well-considered and judicious decision-making.OUR GOVERNANCE STRUCTURE The Board supervises Executive Managementâs work and is responsible for Pandoraâs general and strategic direction.Annual General MeetingBoard of DirectorsExecutive ManagementExecutive Leadership Team Sustainability BoardMeetings in 20239Board of Directors6Audit Committee6Remuneration Committee4Nomination CommitteeBoard evaluation Each year, the Board conducts a board review focusing on the effectiveness and skills of the Board. The ideal mix of skills and experience required of Board members includes: ⢠Board experience ⢠Sustainability ⢠Executive management ⢠Retail ⢠Sectoral experience ⢠Marketing and brand ⢠Digitalisation ⢠Finance An external assessment of the Boardâs skills and effectiveness is conducted every three years to ensure objectivity and benchmarking. In 2023, an external Board effectiveness review was conducted across seven areas: purpose and strategy, Board agenda and meetings (including committees), talent and culture, Board composition, Board membersâ contributions, Chair's effectiveness, and reporting/risk management. An external organisation was chosen to carry out this assessment using digital surveys, director interviews and presentations of results. The results of the external board effectiveness review held in 2023 identified that the Board continues to be well-established and well-functioning, utilising strengths in diversity, transparency and a distinct performance culture. The Board continues to increase its strong dynamics, openness and effectiveness in collaboration with the committees and Executive Management.Board activities in 2023The Board held nine meetings in 2023. Its primary focus was to navigate Pandora carefully through uncertain macro-economic and socio-political environments and to review and approve the next chapter of the Phoenix strategy, which was announced at Pandoraâs Capital Markets Day in October 2023. Furthermore, the Board has overseen the integration of sustainability into relevant processes in Pandora, ensuring alignment with our strategic priorities. Audit CommitteeThe Audit Committee currently has four members, all of whom have been appointed for a one-year term. The Audit Committeeâs responsibilities include assisting the Board in monitoring the effectiveness of the internal control and risk management systems, as well as reviewing Pandoraâs financial and sustainability reporting and audit/assurance processes. The Audit Committee conducts its work in accordance with its Terms of Reference. In 2023, the Audit Committee met six times. Its main activities were to:⢠Review key accounting principles, significant accounting estimates, key financial risks and compliance with tax regulations;⢠Monitor the external financial and sustainability reporting process;⢠Monitor the effectiveness of Pandoraâs internal control and risk management systems, including internal audit; ⢠Monitor the external auditors and their independence;⢠Monitor the effectiveness of the sustainability data process;⢠Review Pandoraâs whistleblowing reporting system and whistleblowing cases; ⢠Review Pandoraâs treasury policy;⢠Review Pandoraâs tax policy.Independent auditor Pandoraâs independent auditors are appointed for a one-year term at the Annual General Meeting following a proposal from the Board, based on a recommendation from the Audit Committee. The framework for the auditorsâ responsibilities, including their remuneration, audit and non-audit services, is agreed annually between the Board and the auditors following the recommendation of the Audit Committee.Remuneration Committee The Remuneration Committee currently has three members, each appointed for a one-year term. The Remuneration Committee assists the Board in ensuring Pandoraâs remuneration policies strike a balance that aligns with the interests of Pandoraâs shareholders while providing rewarding and motivating remuneration for Executive Management and senior employees. In 2023, the Remuneration Committee met six times. Detailed information on the Committeeâs key activities can be found in the Remuneration Report, accessible at our website: pandoragroup.com/investor/corporate-governance/remuneration-reports. Nomination Committee The Nomination Committee currently has four members, each appointed for a one-year term. The Nomination Committee works according to its Terms of Reference and its main responsibilities are assessment and evaluation of the Board and Executive Management, including performance, skills and experience, and nomination of candidates to the Board and Executive Management. Further, the committee monitors talent and succession policy and ensures compliance when making Board, Executive Management and Executive Leadership Team appointments. Finally, it deals with succession planning for Executive Management positions and reviews and monitors diversity policies to ensure compliance. In 2023, the Nomination Committee met four times and had a few additional ad hoc exchanges relating to the Board assessment. Its main activities were to:⢠Prepare and conduct the Board assessment in accordance with the Danish Corporate Governance Recommendations;⢠Review cultural enablers that have driven colleague engagement, including Pandoraâs Employee Value Proposition and leadership development;⢠Assess performance of Executive Management and the cooperation between the Board and Executive Management;⢠Review succession planning for Executive Management roles.Sustainability integration and governanceSustainability is deeply engrained in Pandoraâs strategic direction and how we conduct our business and is governed at the highest level by the Board. The responsibility for the execution of the sustainability strategy is delegated to Pandoraâs Sustainability Board. The Sustainability Board holds the responsibility for formulating the strategy and integrating sustainability into business decisions within their respective functions. It reports to the Executive Leadership Team and is chaired by Pandoraâs Chief HR Officer and consists of 11 senior leaders, including five from the Executive Leadership Team. Additional information The Corporate Governance Statement for 2023, cf. section 107b of the Danish Financial Statements Act, is available at our website: pandoragroup.com/investor/corporate-governance/governance-statement. Pandora A/S' statutory report in accordance with section 99a and section 107d of the Danish Financial Statements Act, is available in our Sustainability Report 2023 at our website pandoragroup.com/sustainability/resources/sustainability-reports. Pandoraâs Global Data Ethics Policy, cf. section 99d of the Danish Financial Statements Act is available at our website pandoragroup.com/investor/corporate-governance/data-ethics, and is built on our care and respect for consumer and employee privacy. We apply equality and equity in our processing of data, we respect the person behind the data, and we focus on sustainable data practices. We also recognise the importance of Artificial Intelligence Safety. In 2023, we introduced our Global AI Standard through a series of initiatives and presented an overview of generative AI risks to our Executive Leadership Team. As a company, Pandora is committed to conducting business in full compliance with the principles for the safe use of AI as set out in the AI Safety Standard and will continue to promote and create awareness of these principles in 2024.</mrv:CorporateGovernanceReport>
<mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="s8_notesesefdkgaap__9__14" xml:lang="en">pandoragroup.com/investor/corporate-governance/governance-statement</mrv:LinkToCorporateGovernanceReport>
<mrv:LinkToStatementOfCorporateSocialResponsibility contextRef="ctx-1" id="s8_notesesefdkgaap__9__13" xml:lang="en">pandoragroup.com/sustainability/resources/sustainability-reports.</mrv:LinkToStatementOfCorporateSocialResponsibility>
<mrv:LinkToStatementOfPolicyForDataEthics contextRef="ctx-37" id="s8_notesesefdkgaap__9__15" xml:lang="en">pandoragroup.com/investor/corporate-governance/data-ethics</mrv:LinkToStatementOfPolicyForDataEthics>
<fsa:AverageNumberOfEmployees contextRef="ctx-49"
decimals="0"
id="s8_notesesefdkgaap__10__48"
unitRef="pure">26986</fsa:AverageNumberOfEmployees>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="s8_notesesefdkgaap__9__50" xml:lang="en">The Board of Directors and the Executive Management have today discussed and approved the Annual Report of Pandora A/S for 2023.The Annual Report has been prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial State-ments Act.It is our opinion that the consolidated financial state-ments and the Parent Company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2023 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year 1 January to 31 December 2023.Further, in our opinion, the management's review gives a fair review of the development in the Group's and the Parent Company's activities and financial matters, results of operations, cash flows and financial position as well as a description of material risks and uncertainties that the Group and the Parent Company face.In our opinion, the Annual Report of Pandora A/S for the financial year 1 January to 31 December 2023 with the file name PAND-2023-12-31-en.zip has been prepared, in all material respects, in compliance with the ESEF Regulation.We recommend that the Annual Report be approved at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-38" id="s8_notesesefdkgaap__9__53" xml:lang="en">Alexander Lacik</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-38" id="s8_notesesefdkgaap__9__54" xml:lang="en">Chief Executive Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-39" id="s8_notesesefdkgaap__9__55" xml:lang="en">Anders Boyer</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-39" id="s8_notesesefdkgaap__9__56" xml:lang="en">Chief Financial Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-40" id="s8_notesesefdkgaap__9__57" xml:lang="en">Peter A. Ruzicka</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-40" id="s8_notesesefdkgaap__9__58" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-44" id="s8_notesesefdkgaap__9__63" xml:lang="en">Marianne Kirkegaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-41" id="s8_notesesefdkgaap__9__59" xml:lang="en">Christian Frigast</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-41" id="s8_notesesefdkgaap__9__60" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-45" id="s8_notesesefdkgaap__9__64" xml:lang="en">Catherine Spindler</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-42" id="s8_notesesefdkgaap__9__61" xml:lang="en">Lilian Fossum Biner</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-46" id="s8_notesesefdkgaap__9__65" xml:lang="en">Jan Zijderveld</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-43" id="s8_notesesefdkgaap__9__62" xml:lang="en">Birgitta Stymne Göransson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="s8_notesesefdkgaap__9__51" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="s8_notesesefdkgaap__9__52">2024-02-07</sob:DateOfApprovalOfAnnualReport>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__9__68" xml:lang="en">OpinionWe have audited the consolidated financial statements and the Parent Company financial statements of Pandora A/S for the financial year 1 January to 31 December 2023, which comprise income statement, statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including material accounting policy information, for the Group and the Parent Company. The consolidated financial statements and the Parent Company financial statements are prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the Parent Company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2023 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 January to 31 December 2023 in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__9__69" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the âAuditorâs responsibilities for the audit of the consolidated financial statements and the Parent Company financial statementsâ (hereafter collectively referred to as âthe financial statements) section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA code. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014.Appointment of auditorSubsequent to Pandora A/S being listed on Nasdaq OMX Copenhagen, EY was appointed auditors of Pandora A/S on 8 April 2011. We have been reappointed annually at the General Meeting for a total consecutive period of 13 years up to and including the financial year 2023. Subsequent to a tender process, we were re-appointed at the Annual General Meeting on 11 March 2021.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="s8_notesesefdkgaap__9__70" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the financial year 2023. These matters were addressed during our audit of the financial statements as a whole and in forming our opinion thereon. We do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.We have fulfilled our responsibilities described in the âAuditorâs responsibilities for the audit of the financial statementsâ section, including in relation to the key audit matters below. Accordingly, our audit included the design and performance of procedures to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statements.Revenue recognition and measurement of expected sales returnsDESCRIPTION OF MATTERRevenue is recognised when control of the goods has been transferred to the buyer and it is measured at fair value of the expected consideration to be received, less rebates, discounts, sales taxes, duties and expected sales returns. Revenue recognition and measurement of the related expected sales returns was a matter of most significance in our audit due to the inherent risk in the estimates and judgements which Management makes in the normal course of business as to timing of revenue and measurement of expected sales returns. Details on revenue recognition and expected sales returns are provided in notes 2.1 and 3.8 of the consolidated financial statements and in notes 2.1 and 3.5 of the Parent Company financial statements, to which we refer.CONSIDERATION OF THE MATTER IN THE AUDITOur procedures in relation to revenue recognition and measurement of expected sales returns included considering the Groupâs accounting policies for revenue recognition, including those related to measurement of expected sales returns, and assessing compliance of policies with applicable accounting standards. We identified and assessed internal controls related to the timing of revenue recognition and measurement of expected sales returns. We tested the effectiveness of the Groupâs internal controls in relation to calculation of expected sales returns and timing of revenue recognition. On a sample basis, we tested sales transactions taking place at either side of the balance sheet date as well as credit notes issued after the balance sheet date to assess whether those transactions were recognised in the correct period. We assessed the key assumptions applied by Management regarding expected sales returns based on our knowledge of the business and by reviewing the supporting documentation prepared by Management. As part of our audit we have utilised data analytics, analysing the relationship between revenue, trade receivables and cash receipts. Furthermore, we evaluated the disclosures provided by Management in the consolidated financial statements and the Parent Company financial statements to applicable accounting standards.Inventory valuationThe Group carries inventory in the balance sheet at the lower of cost and net realisable value. Significant management judgements are required with regards to valuation of inventories due to the uncertainty associated with the estimate of slow-moving items and expected value of the reusable raw materials, as well as calculations of elimination of internal gain. Given the level of management judgements and estimates, inventory valuation was a matter of most significance in our audit. Additional details on the valuation of inventories are provided in note 3.5 of the consolidated financial statements and in note 3.4 of the Parent Company financial statements, to which we refer.Our procedures in relation to inventory valuation included assessing the Groupâs processes related to inventory valuation including on a sample basis testing of direct costs related to raw materials, labour costs and attributable overhead costs incurred in the crafting process, recording of write-downs and understanding of the process for internal gain elimination. We assessed the basis for write-downs and performed analytical procedures to assess slow-moving items. We assessed the key assumptions applied by Management regarding itemsâ life-cycle status and expected value of the reusable raw materials based on our knowledge of the business, and on a sample basis tested the supporting documentation. On a sample basis we tested the calculation of elimination of internal gain at Group level. Furthermore, we evaluated the disclosures provided by Management in the consolidated financial statements and the Parent Company financial statements to applicable accounting standards.</arr:KeyAuditMattersAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__9__67" xml:lang="en">To the shareholders of Pandora A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__9__71" xml:lang="en">Statement on the Managementâs review Management is responsible for the Managementâs review.Our opinion on the financial statements does not cover the Managementâs review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Managementâs review and, in doing so, consider whether the Managementâs review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Managementâs review provides the information required by relevant law and regulations. Based on the work we have performed, we conclude that the Managementâs review is in accordance with the financial statements and has been prepared in accordance with the requirements of relevant law and regulations. We did not identify any material misstatement of the Managementâs review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__9__72" xml:lang="en">Managementâs responsibilities for the financial statementsManagement is responsible for the preparation of consolidated financial statements and Parent Company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is responsible for assessing the Groupâs and the Parent Companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="s8_notesesefdkgaap__9__73" xml:lang="en">Auditorâs responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Den-mark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the eco-nomic decisions of users taken on the basis of the finan-cial statements.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exer-cise professional judgement and maintain professional scepticism throughout the audit. We also: ⢠Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. ⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs internal control. ⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. ⢠Conclude on the appropriateness of Managementâs use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group and the Parent Company to cease to continue as a going concern. ⢠Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial state-ments and the Parent Company financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="s8_notesesefdkgaap__9__74" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the consolidated financial statements and Parent Company financial statements of Pandora A/S we performed procedures to express an opinion on whether the Annual Report of Pandora A/S for the financial year 1 January to 31 December 2023 with the file name PAND-2023-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the Annual Report in XHTML format and iXBRL tagging of the consolidated financial statements, including notes.Management is responsible for preparing an Annual Report that complies with the ESEF Regulation. This responsibility includes: ⢠The preparing of the Annual Report in XHTML format; ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged using judgement where necessary; ⢠Ensuring consistency between iXBRL tagged data and the consolidated financial statements presented in human readable format; and ⢠For such internal control as Management determines necessary to enable the preparation of an Annual Report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assurance on whether the Annual Report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of pro-cedures selected depend on the auditorâs judgement, in-cluding the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: ⢠Testing whether the Annual Report is prepared in XHTML format; ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; ⢠Evaluating the completeness of the iXBRL tagging of the consolidated financial statements, including notes; ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and ⢠Reconciling the iXBRL tagged data with the audited consolidated financial statements.In our opinion, the Annual Report of Pandora A/S for the financial year 1 January to 31 December 2023 with the file name PAND-2023-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-47" id="s8_notesesefdkgaap__9__81" xml:lang="en">Torben Bender</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-47" id="s8_notesesefdkgaap__9__82" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-47" id="s8_notesesefdkgaap__9__83" xml:lang="en">mne21332</cmn:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-48" id="s8_notesesefdkgaap__9__84" xml:lang="en">Jens Thordahl Nøhr</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-48" id="s8_notesesefdkgaap__9__85" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-48" id="s8_notesesefdkgaap__9__86" xml:lang="en">mne32212</cmn:IdentificationNumberOfAuditor>
<arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="s8_notesesefdkgaap__9__75" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-1" id="s8_notesesefdkgaap__9__76">2024-02-07</arr:SignatureOfAuditorsDate>
<cmn:NameOfAuditFirm contextRef="ctx-48" id="s8_notesesefdkgaap__9__78" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx-47" id="s8_notesesefdkgaap__9__77" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-47" id="s8_notesesefdkgaap__9__79" xml:lang="en">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-48" id="s8_notesesefdkgaap__9__80" xml:lang="en">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
<gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__9__289" xml:lang="en">+45 3672 0044</gsd:TelephoneNumberOfReportingEntity>
<gsd:HomepageOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__9__290" xml:lang="en">www.pandoragroup.com</gsd:HomepageOfReportingEntity>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
<cmn:TypeOfAuditorAssistance contextRef="ctx-1" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
<gsd:ToolForPreparingTheXBRLInstanceDocument contextRef="ctx-1" xml:lang="en">ParsePort XBRL Converter</gsd:ToolForPreparingTheXBRLInstanceDocument>
<gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2023-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2023-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2022-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2022-12-31</gsd:PredingReportingPeriodEndDate>
<gsd:LegalEntityIdentifierOfReportingEntity contextRef="ctx-1" xml:lang="en">5299007OWYZ6I1E46843</gsd:LegalEntityIdentifierOfReportingEntity>
<fsa:ClassOfReportingEntity contextRef="ctx-1" xml:lang="en">Reporting class D</fsa:ClassOfReportingEntity>
<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Opinion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
<arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Basis for Opinion</arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements>
</xbrli:xbrl>