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Samsonite International S.A. (SMSEY) maintains its leadership in global travel solutions through continuous innovation and strategic market execution. This news hub provides investors and industry observers with direct access to official announcements, financial disclosures, and operational developments.
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For stakeholders monitoring SMSEY's performance across 100+ countries, this resource offers timely updates on retail expansion strategies, material innovation breakthroughs, and corporate responsibility programs. Bookmark this page for structured access to information driving investment decisions in the travel goods sector.
Samsonite Group S.A. reported its Q4 and full-year 2024 results, showing mixed performance. Q4 net sales decreased 0.6% to US$942.4 million, but increased 1.0% on constant currency basis. The company improved its gross profit margin by 30 basis points to 60.2% and expanded adjusted EBITDA margin by 160 basis points to 20.7%.
For full-year 2024, consolidated net sales were US$3,588.6 million, down 2.5% but flat on constant currency. The company expanded gross profit margin to 60.0% and achieved 19.0% adjusted EBITDA margin. Notable achievements include increased adjusted free cash flow of US$311.0 million and returning US$307.6 million to shareholders through buybacks and distributions.
The company added 67 new retail stores in 2024, reaching 1,119 company-operated locations. DTC net sales grew 2.7%, representing 39.8% of total sales. Non-travel products increased 2.0%, accounting for 34.3% of net sales.
Samsonite International S.A. announced that shareholders approved changing the company's name to Samsonite Group S.A. at an extraordinary general meeting on January 23, 2025. The company's stock code on the Hong Kong Stock Exchange (1910) remains unchanged.
The new name better reflects the company's portfolio of brands, which includes their core market-leading brands: Samsonite®, the top-ranked global luggage brand; Tumi®, a performance luxury brand with growth opportunities in Asia and Europe; and American Tourister®, offering quality products at accessible price points. The portfolio also includes complementary brands Gregory®, Lipault®, and Hartmann®.
CEO Kyle Gendreau stated that the new name communicates a more defined corporate identity aligned with their goal of becoming the most sustainable lifestyle bag and travel luggage company globally.
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.
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.
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.
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