SAMSONITE INTL UNSP/ADR - SMSEY STOCK NEWS

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.

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.

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.

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.

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.

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.

Samsonite International S.A. reported strong financial recovery in Q3 2022, with net sales climbing 54.7% to US$790.9 million, surpassing pre-COVID levels by 0.6% when excluding Russia and Speck. Adjusted EBITDA reached US$134.1 million, an 85.6% increase year-on-year, reflecting better consumer demand as travel rebounds. The gross margin remained stable at 55.0%. However, challenges persist in China due to ongoing lockdowns. Total liquidity was US$1.4 billion, and net debt was US$1.4 billion, indicating improved cash flow and debt management.