Pandora A/S provided earnings guidance for the full year of 2017. For the year, the company expects revenue to increase 12% compared to 2016 to DKK 22.8 billion. In local currency, revenue is expected to increase 15%, which compares to initial assumptions of a tailwind of around 1%. This translates into a negative revenue impact from currency of around DKK 0.8 billion compared to initial currency assumptions. Significantly impacted by the unfavourable currency development, revenue was marginally below company's initial financial guidance of DKK 23-24 billion set in February 2017. The EBITDA margin is expected to be 37.3% compared with full year guidance of approximately 38%. CAPEX is expected to be 6% of revenue versus earlier expected approximately 5% of revenue. The increase was mainly due to faster than anticipated progress of construction projects in Thailand as well as more owned and operated concept store openings.