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SAMSONITE INTL UNSP/ADR - SMSEY STOCK NEWS

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Founded over 110 years ago, SAMSONITE INTL UNSP/ADR (SMSEY) is a global leader in the lifestyle bag industry, specializing in travel luggage. The company reported a robust performance in the first half of 2023, with accelerating net sales recovery driven by increased marketing investment and travel demand. With a focus on product innovation and sustainability, SAMSONITE aims to drive continued growth and maintain its market position.

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Samsonite International reported a 6.8% decrease in Q3 2024 consolidated net sales compared to 2023, with total sales of US$877.7 million. The company maintained a gross profit margin of 59.3% and Adjusted EBITDA margin of 17.6%. Despite market challenges, Samsonite generated strong Free Cash Flow of US$94.2 million, up US$5.4 million year-on-year. The company returned US$222.0 million to shareholders through a US$150.0 million cash distribution and US$72.0 million in share buybacks. The company maintained substantial liquidity of US$1.4 billion and a healthy total net leverage ratio of 1.68x as of September 30, 2024.

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Samsonite International has announced ambitious climate targets aligned with the Science Based Targets initiative (SBTi). The company commits to maintaining 100% renewable electricity in its operations and reducing Scope 3 emissions from purchased goods and services by 52% by 2030 on an intensity basis per unit gross profit. The strategy focuses on increasing recycled materials usage, with products containing recycled materials accounting for 34% of net sales in 2023, up from 23% in 2022. Over 95% of the Group's emissions come from its value chain, with nearly 80% from purchased goods and services.

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Samsonite International announced its financial results for the six months ended June 30, 2024, showing a 2.8% increase in net sales year-on-year.

Gross profit margin expanded by 140 basis points to 60.2%, and Adjusted EBITDA margin increased by 10 basis points to 18.9%, both records for the first half. Profit attributable to equity holders rose 7.7% year-on-year to US$164.3 million.

The company generated Free Cash Flow of US$81.6 million, improving by US$18.2 million from the previous year. The net leverage ratio improved to 1.39x, the lowest since the 2016 acquisition of Tumi. Samsonite will pursue a dual listing in the United States.

Net sales saw a 2.0% increase in Asia, 4.6% in Europe, and 20.3% in Latin America, while remaining consistent in North America. The Samsonite brand reported a 5.8% net sales increase, while Tumi saw a slight increase of 0.3%, and American Tourister decreased by 0.9%.

The company increased investment in marketing and added 82 company-operated retail stores, now totaling 1,083 stores.

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Samsonite International reported a 4.1% year-on-year increase in net sales for Q1 2024, reaching $859.6 million, driven primarily by growth in Asia. The company's gross profit margin expanded to 60.4%, and Adjusted EBITDA margin reached 18.8%. Adjusted EBITDA and Adjusted Net Income grew by 8.5% and 13.1%, respectively. Free Cash Flow improved by $67.9 million to $6.5 million, and net leverage ratio dropped to 1.48x. A secondary listing of shares is being pursued, and refinancing efforts are expected to save $4.9 million in annual cash interest payments. The company noted strong sales in China, Japan, and South Korea, while Europe and North America saw more modest growth.

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Samsonite International S.A. plans to pursue a dual listing on a second leading stock exchange to enhance shareholder value. The company reported strong financial results for 2023 with double-digit net sales growth and record profit margins. CEO Kyle Gendreau aims to leverage investor support and expand globally, focusing on the Asian market.
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Samsonite International S.A. reports a 30.4% increase in consolidated net sales year-on-year, driven by growth in all regions and core brands. The company also saw significant expansion in gross profit margin and Adjusted EBITDA margin in 2023, with a focus on the Asia region and Tumi brand. Samsonite continued to reduce its debt levels, achieving the lowest net leverage ratio since 2016.
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Samsonite International S.A. (SEHK:1910) reports a 21.2% increase in consolidated net sales for Q3 2023, driven by growth in all core brands and regions, with significant expansion in gross profit and Adjusted EBITDA margin. The company's strong profits and Free Cash Flow enabled continued balance sheet deleveraging, resulting in the lowest net leverage ratio since the acquisition of Tumi in 2016.
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Samsonite International S.A. reported a strong financial recovery for the year ended December 31, 2022, with consolidated net sales of US$2,879.6 million, reflecting a 52.3% increase compared to 2021.

Despite a 10.4% decline in net sales compared to 2019, Adjusted EBITDA surpassed 2019 levels by 7%, driven by effective cost management and a rebound in travel demand. The Group's net debt was reduced to US$1.4 billion with substantial liquidity of US$1.5 billion.

Strong regional performance, especially in North America and Europe, contributed to significant growth, with net sales in the first two months of 2023 rising by 60.2% year-on-year, indicating continued momentum.

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FAQ

What is the current stock price of SAMSONITE INTL UNSP/ADR (SMSEY)?

The current stock price of SAMSONITE INTL UNSP/ADR (SMSEY) is $13.87 as of December 23, 2024.

What is the market cap of SAMSONITE INTL UNSP/ADR (SMSEY)?

The market cap of SAMSONITE INTL UNSP/ADR (SMSEY) is approximately 4.0B.

What is SAMSONITE INTL UNSP/ADR known for?

SAMSONITE is a global leader in the lifestyle bag industry, specializing in travel luggage.

What were SAMSONITE's financial highlights in the first half of 2023?

SAMSONITE reported accelerating net sales recovery, increased marketing investment, and strong profitability in the first half of 2023.

What are SAMSONITE's key focus areas for growth?

SAMSONITE is focusing on product innovation, sustainability initiatives, and global marketing to drive continued growth.

How does SAMSONITE plan to maintain its market position?

SAMSONITE aims to strengthen its market position through diverse geographic footprint, complementary brands, and a commitment to sustainability and innovation.

What is SAMSONITE's liquidity position?

SAMSONITE has substantial liquidity of US$1.3 billion, providing the financial capacity to support long-term growth.

What are SAMSONITE's key brands?

SAMSONITE's core brands include Samsonite, Tumi, American Tourister, Gregory, High Sierra, Kamiliant, ebags, Lipault, and Hartmann.

How has SAMSONITE's net sales performance been across different regions?

SAMSONITE's net sales performance varied across regions, with notable increases in Asia, North America, Europe, and Latin America.

What is SAMSONITE's marketing strategy?

SAMSONITE has increased marketing activities globally to drive excitement around its brands and differentiate itself from the competition.

How has SAMSONITE managed its operating costs?

SAMSONITE has focused on streamlining its cost base, managing expenses, and driving positive operating leverage to achieve strong profitability.

What are SAMSONITE's plans for retail expansion?

SAMSONITE selectively opened new retail stores in strategic locations to enhance its brand presence and support sales growth.

How has SAMSONITE's financial performance evolved compared to previous periods?

SAMSONITE's financial performance has shown strong improvement in gross profit margin, Adjusted EBITDA, and Adjusted Net Income, reflecting positive operating leverage and enhanced margin profile.

SAMSONITE INTL UNSP/ADR

OTC:SMSEY

SMSEY Rankings

SMSEY Stock Data

4.04B
282.13M
0.08%
Footwear & Accessories
Consumer Cyclical
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United States of America
Luxembourg