Hong Kong · Delayed Price · Currency is HKD Samsonite Group Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw a return to positive net sales growth, margin expansion, and strong D2C and non-travel performance, despite ongoing geopolitical risks. Full-year results reflect normalization post-pandemic, with robust cash flow and continued investment in growth and sustainability.
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Q3 showed sequential improvement with net sales down 1.3% year-over-year but up from Q2, driven by strong DTC and non-travel sales, and gross margin expansion to 59.6%. Outlook for Q4 is positive, with continued investment in advertising and product launches, and strong liquidity following a successful debt refinancing.
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First half 2025 net sales declined 5.2% year-over-year, with DTC channels showing resilience and gross margin remaining strong at 59.2%. Sequential improvement is expected in the second half, though macroeconomic and consumer sentiment uncertainties persist.
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Q1 2025 saw a 4.5% sales decline year-over-year, with gross margin at 59.4% and adjusted EBITDA margin at 16%. Despite macroeconomic and tariff uncertainties, cost discipline and innovation supported steady performance, with Q2 expected to mirror Q1 trends.
Fiscal Year 2024
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Q4 delivered 1% constant currency sales growth and record EBITDA margin, with strong gross margins and disciplined cost management. Full-year results were flat versus a record 2023, but cash flow and shareholder returns were robust. Outlook for 2025 anticipates sequential improvement, with steady Europe and Latin America, improving Asia, and North America softness.
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Q3 sales declined 6.8% year-over-year due to tough comps and softer sentiment, but margins and cash flow remained strong. Full-year sales are expected to be flat versus 2023, with sequential improvement in Q4 and a return to normalized growth in 2025.
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First-half sales grew 2.8% to $1.769B with record gross and EBITDA margins, despite softer consumer sentiment and increased competition in key markets. The company maintained strong cash flow, reduced leverage, and announced a $200M buyback and dual U.S. listing.