Samsonite Int'l (01910)
Last Update: 2026-06-12
Stock Name
Samsonite Int'l
Listing Date
2011-06-16
Sector
Industrials
Chairman
Jerome Squire Griffith
Par Value
0.010(USD)
Total Issued Capital
1.362B
Market Cap
19.439B
Principal Activities
Principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite, Tumi, American Tourister, Gregory, High Sierra, Lipault and Hartmann brand names as well as other owned and licensed brand names.
Latest Results
The Group's profit attributable to shareholders for the 3 months ended 31-03-2026 amounted to USD 32.10 million, a decrease of 33.4% compared with previous corresponding period. Basic earnings per share was USD 0.023. No dividend was declared. Turnover amounted to USD 829.1 million, an increase of 4.1% over the same period last year, gross profit margin down 0.4% to 59.0%. (Announcement Date: 13 May 2026)
Business Review - For the year ended December 31, 2025
We are pleased by how we closed out 2025 with a strong performance in the fourth quarter. As I reflect on our full year results, our advantages in product innovation, market leadership, platform, and scale enabled our teams to manage the business well through a highly uncertain demand environment and the impact of U.S. tariffs. Our business quickly adapted to softening consumer sentiment that impacted our net sales, particularly in the first half of 2025. Our teams remained focused and through strong operational execution, year-over-year constant currency(1) net sales growth began to improve in the third quarter of 2025, with a return to positive growth in the fourth quarter of 2025. Successful, innovative new product collections, as well as our team's effective navigation of our business despite headwinds, particularly in our DTC channels and our non-travel product category(2), were key drivers of our net sales improvement. This outstanding performance is a testament to effective execution by our nimble, focused and disciplined teams around the world. We will continue to execute on our strategic roadmap and leverage our scale advantages in product innovation and increased marketing spend to enhance consumer engagement and drive our net sales in 2026.
For the three months ended December 31, 2025, we reported net sales of US$963.3 million, an increase of 0.9%(1) on a constant currency basis compared to the fourth quarter of 2024, and a sequential improvement relative to a 1.3%(1) year-over-year net sales decline in the third quarter of 2025. We delivered strong gross profit margin of 60.3% for the fourth quarter of 2025, 10 basis points higher than the same period in 2024. With a return to positive net sales growth and gross margin expansion, we achieved an adjusted EBITDA margin(3) of 20.3% for the fourth quarter of 2025, a decrease of 40 basis points year-over-year, which was a substantial improvement compared to a 130-basis point year-over-year decline in the third quarter of 2025. Additionally, the business generated adjusted free cash flow(4) of US$170.0 million in the fourth quarter of 2025, an increase of US$34.8 million year-over-year.
For the year ended December 31, 2025, we delivered solid results driven by continued strength in global travel and strong operational execution, including swift and decisive actions to mitigate the impact from U.S. tariffs and manage through a challenging macroeconomic environment. We reported net sales of US$3,497.6 million for the year ended December 31, 2025, down 2.6%(1) compared to 2024, with net sales in the second half of 2025 improving to be almost flat (down 0.2%(1) year-over-year) from a challenging first half of 2025 during which net sales declined by 5.2%(1) year- over-year. The lower net sales in 2025 were due primarily to traditional brick-and-mortar wholesale customers purchasing more cautiously amidst macroeconomic uncertainty and weakened consumer sentiment, partially offset by increased DTC net sales (particularly DTC e-commerce net sales) and wholesale net sales to e-retailers.
Supported by favorable region, brand and channel net sales mix, our gross profit margin remained strong at 59.6% for 2025, down just 40 basis points from 2024, despite U.S. tariff pressure and increased strategic promotional initiatives to drive sales volume in 2025. Additionally, our gross profit margin was supported by our ability to effectively navigate uncertain trade policies, driven by our capable sourcing teams, our scale advantages, and our close partnerships with our long-standing suppliers. Our adjusted EBITDA margin was 17.3% for 2025, normalizing from our two highest margin years on record(5) in 2023 and 2024, despite a challenging macroeconomic environment and tariff pressure in the U.S. We continued to invest in strategic new store openings to support our long-term growth, adding 31 net new company-operated retail stores during 2025 to bring the total number of company-operated retail stores to 1,150 as of December 31, 2025. The decrease in our adjusted EBITDA margin in 2025 compared to 2024 was due to higher distribution expenses as a percentage of net sales and a slightly lower gross profit margin, partially offset by lower marketing expenses as a percentage of net sales, year-over-year.
Our balance sheet remains healthy, and we believe it positions us well to capitalize on anticipated long-term growth opportunities. With continued financial discipline, we generated adjusted free cash flow of US$246.3 million in 2025 and kept net debt(6) at approximately US$1.1 billion as of December 31, 2025, virtually unchanged compared to December 31, 2024, even as we returned approximately US$192.9 million to shareholders through a US$150.0 million cash dividend and US$42.9 million in share buybacks during the year.
We continued to make progress on 'Our Responsible Journey' to further embed sustainability and resilience across our global business while continuing to strengthen our commitment to sustainable growth. In 2025, we achieved a significant milestone with the successful global launch of Samsonite brand’s ParaluxTM collection, our first collection to incorporate many of our leading product sustainability initiatives at scale in a global offering: industry-leading durability, easy repairability and increased use of recycled materials. This collection received two Red Dot Awards for overall Design and Sustainability Design, and its sales have exceeded our expectations. In 2025, approximately 40% of our net sales came from products incorporating some recycled materials. We look forward to sharing our accomplishments with the publication of our 2025 report on Our Responsible Journey in April 2026.
Business Outlook - For the year ended December 31, 2025
As we look ahead, our strategic priorities to drive profitable growth are clear. We will focus on amplifying and elevating awareness of our iconic, consumer-centric brands, becoming the clear winner in digital to further support our multi- channel growth, seizing whitespace opportunities in lifestyle bags and accessories, and continuing to win with products that resonate globally.
To help execute on our strategic priorities, we have established a new Global Marketing & E-commerce Office, led by our new Global Vice President of Marketing and E-commerce, to coordinate and enhance our brand-building efforts around the world. This office’s focus is to strengthen global brand consistency and awareness while ensuring regional flexibility for local relevance, and to drive higher-impact storytelling across channels to elevate awareness and brand perception.
We are confident in the long-term tailwinds supporting our business, including continued growth in travel demand(7) and tourism(8) as well as our ability to execute on our strategic priorities to accelerate growth. Further, as the industry leader, we expect to benefit significantly from renewed consumer demand for luggage and travel bags over the next several years, following a recent period of more moderate growth after the“revenge travel”surge in 2021-2023.
Nearer-term, we expected a continuation of our net sales growth momentum during the first quarter of 2026 prior to the onset of the conflict in the Middle East, but as the conflict continues, we now expect the first quarter of 2026 to be approximately flat on a constant currency basis compared to the first quarter of 2025. We believe we have an opportunity to achieve sequential constant currency net sales growth as 2026 progresses, however, inherent uncertainty about the duration and potential impact of the conflict makes it impractical to provide a specific outlook for the full year. Marketing spend as a percentage of net sales is expected to increase in 2026 compared to 2025 as we make investments to elevate awareness of our iconic brands to drive long-term growth. That said, we maintain flexibility to adjust our marketing spend depending on market conditions.
Source: Samsonite Int'l (01910) Annual Results Announcement
Principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite, Tumi, American Tourister, Gregory, High Sierra, Lipault and Hartmann brand names as well as other owned and licensed brand names.
Latest Results
The Group's profit attributable to shareholders for the 3 months ended 31-03-2026 amounted to USD 32.10 million, a decrease of 33.4% compared with previous corresponding period. Basic earnings per share was USD 0.023. No dividend was declared. Turnover amounted to USD 829.1 million, an increase of 4.1% over the same period last year, gross profit margin down 0.4% to 59.0%. (Announcement Date: 13 May 2026)
Business Review - For the year ended December 31, 2025
We are pleased by how we closed out 2025 with a strong performance in the fourth quarter. As I reflect on our full year results, our advantages in product innovation, market leadership, platform, and scale enabled our teams to manage the business well through a highly uncertain demand environment and the impact of U.S. tariffs. Our business quickly adapted to softening consumer sentiment that impacted our net sales, particularly in the first half of 2025. Our teams remained focused and through strong operational execution, year-over-year constant currency(1) net sales growth began to improve in the third quarter of 2025, with a return to positive growth in the fourth quarter of 2025. Successful, innovative new product collections, as well as our team's effective navigation of our business despite headwinds, particularly in our DTC channels and our non-travel product category(2), were key drivers of our net sales improvement. This outstanding performance is a testament to effective execution by our nimble, focused and disciplined teams around the world. We will continue to execute on our strategic roadmap and leverage our scale advantages in product innovation and increased marketing spend to enhance consumer engagement and drive our net sales in 2026.
For the three months ended December 31, 2025, we reported net sales of US$963.3 million, an increase of 0.9%(1) on a constant currency basis compared to the fourth quarter of 2024, and a sequential improvement relative to a 1.3%(1) year-over-year net sales decline in the third quarter of 2025. We delivered strong gross profit margin of 60.3% for the fourth quarter of 2025, 10 basis points higher than the same period in 2024. With a return to positive net sales growth and gross margin expansion, we achieved an adjusted EBITDA margin(3) of 20.3% for the fourth quarter of 2025, a decrease of 40 basis points year-over-year, which was a substantial improvement compared to a 130-basis point year-over-year decline in the third quarter of 2025. Additionally, the business generated adjusted free cash flow(4) of US$170.0 million in the fourth quarter of 2025, an increase of US$34.8 million year-over-year.
For the year ended December 31, 2025, we delivered solid results driven by continued strength in global travel and strong operational execution, including swift and decisive actions to mitigate the impact from U.S. tariffs and manage through a challenging macroeconomic environment. We reported net sales of US$3,497.6 million for the year ended December 31, 2025, down 2.6%(1) compared to 2024, with net sales in the second half of 2025 improving to be almost flat (down 0.2%(1) year-over-year) from a challenging first half of 2025 during which net sales declined by 5.2%(1) year- over-year. The lower net sales in 2025 were due primarily to traditional brick-and-mortar wholesale customers purchasing more cautiously amidst macroeconomic uncertainty and weakened consumer sentiment, partially offset by increased DTC net sales (particularly DTC e-commerce net sales) and wholesale net sales to e-retailers.
Supported by favorable region, brand and channel net sales mix, our gross profit margin remained strong at 59.6% for 2025, down just 40 basis points from 2024, despite U.S. tariff pressure and increased strategic promotional initiatives to drive sales volume in 2025. Additionally, our gross profit margin was supported by our ability to effectively navigate uncertain trade policies, driven by our capable sourcing teams, our scale advantages, and our close partnerships with our long-standing suppliers. Our adjusted EBITDA margin was 17.3% for 2025, normalizing from our two highest margin years on record(5) in 2023 and 2024, despite a challenging macroeconomic environment and tariff pressure in the U.S. We continued to invest in strategic new store openings to support our long-term growth, adding 31 net new company-operated retail stores during 2025 to bring the total number of company-operated retail stores to 1,150 as of December 31, 2025. The decrease in our adjusted EBITDA margin in 2025 compared to 2024 was due to higher distribution expenses as a percentage of net sales and a slightly lower gross profit margin, partially offset by lower marketing expenses as a percentage of net sales, year-over-year.
Our balance sheet remains healthy, and we believe it positions us well to capitalize on anticipated long-term growth opportunities. With continued financial discipline, we generated adjusted free cash flow of US$246.3 million in 2025 and kept net debt(6) at approximately US$1.1 billion as of December 31, 2025, virtually unchanged compared to December 31, 2024, even as we returned approximately US$192.9 million to shareholders through a US$150.0 million cash dividend and US$42.9 million in share buybacks during the year.
We continued to make progress on 'Our Responsible Journey' to further embed sustainability and resilience across our global business while continuing to strengthen our commitment to sustainable growth. In 2025, we achieved a significant milestone with the successful global launch of Samsonite brand’s ParaluxTM collection, our first collection to incorporate many of our leading product sustainability initiatives at scale in a global offering: industry-leading durability, easy repairability and increased use of recycled materials. This collection received two Red Dot Awards for overall Design and Sustainability Design, and its sales have exceeded our expectations. In 2025, approximately 40% of our net sales came from products incorporating some recycled materials. We look forward to sharing our accomplishments with the publication of our 2025 report on Our Responsible Journey in April 2026.
Business Outlook - For the year ended December 31, 2025
As we look ahead, our strategic priorities to drive profitable growth are clear. We will focus on amplifying and elevating awareness of our iconic, consumer-centric brands, becoming the clear winner in digital to further support our multi- channel growth, seizing whitespace opportunities in lifestyle bags and accessories, and continuing to win with products that resonate globally.
To help execute on our strategic priorities, we have established a new Global Marketing & E-commerce Office, led by our new Global Vice President of Marketing and E-commerce, to coordinate and enhance our brand-building efforts around the world. This office’s focus is to strengthen global brand consistency and awareness while ensuring regional flexibility for local relevance, and to drive higher-impact storytelling across channels to elevate awareness and brand perception.
We are confident in the long-term tailwinds supporting our business, including continued growth in travel demand(7) and tourism(8) as well as our ability to execute on our strategic priorities to accelerate growth. Further, as the industry leader, we expect to benefit significantly from renewed consumer demand for luggage and travel bags over the next several years, following a recent period of more moderate growth after the“revenge travel”surge in 2021-2023.
Nearer-term, we expected a continuation of our net sales growth momentum during the first quarter of 2026 prior to the onset of the conflict in the Middle East, but as the conflict continues, we now expect the first quarter of 2026 to be approximately flat on a constant currency basis compared to the first quarter of 2025. We believe we have an opportunity to achieve sequential constant currency net sales growth as 2026 progresses, however, inherent uncertainty about the duration and potential impact of the conflict makes it impractical to provide a specific outlook for the full year. Marketing spend as a percentage of net sales is expected to increase in 2026 compared to 2025 as we make investments to elevate awareness of our iconic brands to drive long-term growth. That said, we maintain flexibility to adjust our marketing spend depending on market conditions.
Source: Samsonite Int'l (01910) Annual Results Announcement
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