SAMSONITE INTL UNSP/ADR - SMSEY STOCK NEWS

Samsonite reported strong financial results for the six months ending June 30, 2022, achieving consolidated net sales of US$1,270.2 million, a 75.3% increase year-on-year (excluding Russia and Speck). The second quarter alone saw a remarkable 66.4% year-on-year sales growth. The company improved its gross margin to 56.5% and generated positive Adjusted EBITDA of US$195.6 million, contrasting with a loss in the previous year. However, net sales remain 20.4% lower than pre-pandemic levels of 2019, with ongoing challenges in the Chinese market noted.

Samsonite International S.A. reported a robust start to 2022, with net sales climbing to US$573.6 million, a 74.9% year-on-year increase. Core brands Samsonite, Tumi, and American Tourister demonstrated significant growth, rising by 87.9%, 61.1%, and 89.6% respectively. Despite challenges from COVID-19 and shipping delays, Adjusted EBITDA improved to US$73.2 million. The company also prepaid US$200 million of debt, maintaining liquidity of US$1.4 billion. However, net sales decreased 25.2% compared to the first quarter of 2019.

Samsonite International reported strong financial results for 2021, with net sales reaching US$2,020.8 million, a 35.1% year-on-year increase. The fourth quarter showed net sales of US$664.1 million, significantly up from the prior quarter. Adjusted EBITDA improved to US$182.3 million for the full year, recovering from a loss in 2020. Notably, North America and Latin America saw the fastest recovery, achieving year-on-year net sales increases of 47.0% and 49.3%, respectively. The Group's gross profit margin rose to 54.5%. However, geopolitical issues and shipping delays pose ongoing challenges.

Samsonite International S.A. reported its unaudited financial results for Q3 2021, showing a strong recovery with net sales of US$557.1 million, up 68.9% year-on-year. Gross margin improved to 55.5%, while Adjusted EBITDA reached US$72.2 million, a significant rise from US$11.5 million in Q2 2021. Adjusted Net Income was US$8.7 million, marking the first positive quarter since Q4 2019. Despite ongoing challenges from COVID-19, Samsonite is well-positioned for growth as travel restrictions ease globally, benefiting from a substantial liquidity of US$1.3 billion.

Samsonite reported its financial results for the first half of 2021, showing a net sales figure of US$799.5 million, a decline of 3.2% year-on-year, and 54.6% from the first half of 2019. In the second quarter, net sales improved, decreasing by 52.2% compared to 2019, marking a recovery from a 57.3% decline in Q1. The company achieved positive Adjusted EBITDA of US$11.5 million in Q2, up significantly from a loss of US$127.8 million in Q2 2020. Despite ongoing challenges from COVID-19, liquidity stood strong at US$1,185 million, aided by cost-cutting measures and improved gross margins.

Samsonite International S.A. announced the establishment of a brand development and sourcing hub in Singapore on August 11, 2021. This initiative stems from a global restructuring plan aimed at enhancing product development, brand management, and supply chain operations across Asia. The hub will position Samsonite closer to its market for improved product design and sourcing management. This move is expected to yield long-term financial benefits and strengthen Samsonite's operational infrastructure in the key Asian market, ensuring continued growth as the global travel industry recovers.

Samsonite International reported its Q1 2021 financial results, showing net sales of US$354.7 million, down 42.4% year-on-year. The company achieved US$200 million in annualized fixed cost savings through a cost reduction program and improved Adjusted EBITDA by US$16.6 million from Q4 2020, despite a loss of US$28.5 million. North America sales fell 44.6%, while Asia's decline was 25.9%. Despite challenges from COVID-19 lockdowns, liquidity remains robust at US$1,445.9 million, positioning Samsonite well for recovery as domestic travel increases in the US and China.

Samsonite International reported a significant financial impact due to COVID-19, with net sales falling by 57.5% to US$1,536.7 million in 2020. The company achieved over US$670 million in cash savings through cost-cutting measures, reducing cash burn to nearly breakeven in Q4 2020. Despite positive adjustments in EBITDA, the group incurred an Adjusted Net Loss of US$406.1 million for the year. Liquidity stood at approximately US$1.5 billion, well above minimum requirements. A cautious outlook is maintained due to ongoing pandemic challenges, although new product launches are anticipated to bolster recovery.

On August 19, 2020, Samsonite International reported its financial results for the first half of 2020, revealing a significant decline in net sales due to the COVID-19 pandemic. Total net sales dropped by 53.4% year-on-year to US$802.3 million, with operating losses reaching US$1,062.9 million. The company anticipates ongoing challenges, although sales declines are beginning to moderate. As a response, Samsonite implemented cost-cutting measures projecting US$600 million in cash savings. With liquidity of US$1.6 billion, the company remains positioned to endure the pandemic effects while focusing on sustainability and innovation.