Financial Performance - For the three months ended March 31, 2024, net sales were $859.6 million, an increase of 0.9% compared to $852.1 million for the same period in 2023, with a 4.1% increase when adjusted for constant currency[10]. - Gross profit for the same period was $519.5 million, up 5.0% from $494.5 million in the prior year, resulting in a gross margin of 60.4%, compared to 58.0% in 2023[10]. - Operating profit reported was $149.8 million, a 3.5% increase from $144.7 million year-over-year, with a 9.3% increase when adjusted for constant currency[10]. - Profit for the period was $90.5 million, reflecting a 7.8% increase from $83.9 million in the same quarter of 2023, with a 13.5% increase when adjusted for constant currency[10]. - Adjusted net income was $87.1 million, up 7.2% from $81.2 million in the previous year, with a 13.1% increase when adjusted for constant currency[7]. - Adjusted EBITDA for the quarter was $161.2 million, a 3.1% increase from $156.4 million year-over-year, with an adjusted EBITDA margin of 18.8%[7]. - Basic earnings per share were $0.057, an increase of 11.6% from $0.051 in the same quarter of 2023[7]. - For the three months ended March 31, 2024, net profit attributable to equity holders was $82.9 million, an improvement of $9.1 million or 12.3% compared to $73.8 million in the same period last year[12]. - Adjusted net income for the three months ended March 31, 2024, was $87.1 million, up $5.9 million or 7.2% from $81.2 million, driven by improved net sales and gross margin[12]. - The company reported a diluted earnings per share of $0.056 for the three months ended March 31, 2024, compared to $0.051 in the same period last year[20]. - The profit for the three months ended March 31, 2024, was $90.5 million, an increase of $6.6 million or 7.8% from $83.9 million in the same period last year[72]. Sales and Revenue Breakdown - Net sales for the three months ended March 31, 2024, were $859.6 million, compared to $852.1 million in the same period last year[20]. - Net sales by region showed that Asia accounted for $340.1 million (39.6%), North America $285.3 million (33.2%), Europe $175.5 million (20.4%), and Latin America $58.5 million (6.8%) for the three months ended March 31, 2024[33]. - The travel product category generated net sales of $558.3 million (64.9%), while the non-travel category generated $301.3 million (35.1%) for the three months ended March 31, 2024[40]. - The brand Samsonite reported a net sales increase of $15.6 million or 3.7%, with a 6.5% increase when adjusted for constant currency for the three months ended March 31, 2024[38]. - The company's Tumi brand reported a slight decrease in net sales of $0.5 million or 0.3%, but a 1.6% increase when adjusted for constant currency[38]. - The leisure product category saw a significant increase in net sales of $7.8 million or 9.6%, with a 19.2% increase when adjusted for constant currency[41]. - The European region experienced a slight decline in net sales of 2.5% compared to the previous year, reflecting challenges in that market[33]. - DTC channel net sales increased by $11.2 million or 3.7%, with a constant currency increase of 7.6%, reaching $319.1 million[45]. - DTC e-commerce sales increased by $5.8 million or 7.1%, reaching $87.0 million, with a constant currency increase of 11.0%[47]. - Sales in Germany for the three months ended March 31, 2024, decreased by $3.1 million or 12.5% compared to the same period in 2023[55]. - Sales in France decreased by $1.5 million or 8.8% year-over-year, while Italy saw a decrease of $1.2 million or 5.8%[55]. Expenses and Cost Management - Marketing expenses increased to $52.8 million, a rise of 5.6% from $50.0 million in the prior year, representing 6.1% of net sales, up from 5.9%[10]. - Distribution expenses rose by $22.9 million or 9.8% to $257.6 million, accounting for 30.0% of net sales[61]. - General and administrative expenses decreased by $4.3 million or 6.6% to $59.9 million, accounting for 7.0% of net sales[63]. - The net financial expenses for the three months ended March 31, 2024, decreased by $8.2 million or 21.4% to $30.1 million compared to $38.3 million for the same period in 2023[66]. - Interest expenses on loans and borrowings decreased by $2.1 million to $23.4 million for the three months ended March 31, 2024, compared to $25.5 million in the same period last year[69]. Cash Flow and Liquidity - Free cash flow for the period was $6.5 million, an increase of $67.9 million compared to the previous year, benefiting from positive changes in working capital and increased adjusted net income[12]. - Operating cash flow for the three months ended March 31, 2024, was $99.8 million, significantly higher than $24.2 million in the same period last year[29]. - Cash and cash equivalents rose to $744.5 million at the end of Q1 2024, compared to $716.6 million at the end of Q4 2023, marking a growth of 3.9%[29]. - Total liquidity as of March 31, 2024, was $1,589.8 million, compared to $1,562.0 million at the end of 2023[12]. - The company experienced a positive change in working capital, contributing to the increase in operating cash flow and adjusted net income[85]. Debt and Financing - As of March 31, 2024, cash and cash equivalents totaled $744.5 million, while total financial debt was $1,824.5 million, resulting in net debt of $1,079.9 million, down from $1,107.4 million at the end of 2023[12]. - The total loans and borrowings as of March 31, 2024, amounted to $1,824.5 million, down from $2,010.7 million as of March 31, 2023[66]. - The company entered into a revised credit agreement on June 21, 2023, which includes a $800 million secured A term loan, a $600 million secured B term loan, and an $850 million revolving credit facility[90]. - The company must maintain a total net leverage ratio not exceeding 4.50:1.00 and a cash interest coverage ratio of no less than 3.00:1.00[99]. - The company has established various negative covenants in its agreements, restricting additional debt and asset sales among other activities[107]. Investments and Capital Expenditures - The company invested $13.2 million in property, plant, and equipment, and software during Q1 2024, compared to $9.7 million in Q1 2023[29]. - The company plans to continue investing in property, plant, and equipment to upgrade and expand its retail store network throughout the remainder of 2024[85].

Financial Performance - Samsonite achieved strong net sales increases across all regions and core brands, driven by ongoing growth in travel and tourism [2]. - The company reported a record high gross profit margin, significantly enhancing profitability through disciplined expense management [2]. - Net sales for the year ended December 31, 2023, were $3,682.4 million, an increase of 27.9% compared to $2,879.6 million for the year ended December 31, 2022 [34]. - Operating profit for the year ended December 31, 2023, was $743.7 million, reflecting a 51.1% increase from $492.1 million in the previous year [34]. - Profit attributable to equity holders for the year ended December 31, 2023, was $659.1 million, a 56.5% increase compared to $421.2 million for the year ended December 31, 2022 [34]. - Adjusted EBITDA for the year ended December 31, 2023, was $709.3 million, with an adjusted EBITDA margin of 19.3% [34]. - The Group's financial performance reflects a strong recovery and growth trajectory post-pandemic, with significant improvements in key financial metrics [34]. - Free Cash Flow for the year ended December 31, 2023, was US$284.5 million, an increase of US$201.0 million, or 240.6%, compared to US$83.5 million in the previous year [45]. - The Group's net sales surpassed 2019 levels by 17.5% in 2023, a significant improvement compared to a 10.4% decrease in 2022 [49]. - The Group's adjusted EBITDA margin improved to 19.3% for the year ended December 31, 2023, from 16.4% for the year ended December 31, 2022 [42]. Marketing and Brand Strategy - The company aims to increase the proportion of net sales from its direct-to-consumer e-commerce channel [6]. - Investment in marketing will be increased to support the company's brands and initiatives [6]. - The Group plans to increase marketing investment in 2024, targeting advertising spend of approximately 7.0% of its net sales to drive future growth across all brands [11]. - The Group's marketing investment strategy is designed to support brand development and drive sales growth in the coming years [9]. - The Group's marketing expenses increased by US$85.5 million, or 54.8%, to US$241.5 million for the year ended December 31, 2023, representing 6.6% of net sales [40]. - The company aims to limit promotional discounts to enhance gross profits while maintaining disciplined fixed expense management [65]. - Marketing spend is targeted at approximately 7.0% of net sales for 2024, aimed at supporting product innovation and retail enhancements [95]. Sustainability and ESG Initiatives - The company is committed to incorporating its environmental, social, and governance (ESG) philosophy into core business practices [8]. - The Group is committed to sustainability through its "Our Responsible Journey" initiative, leading the transformation of the luggage industry [11]. - The share of net sales from products made at least in part from recycled material increased to approximately 34% in 2023, up from about 23% in 2022 [93]. - 100% renewable electricity usage was achieved in all operations, two years ahead of the 2025 target [93]. - The ambition is to become the world's most sustainable lifestyle bag and travel luggage company while continuing to grow net sales and profitability [101]. Regional Performance - The Group expects global travel and tourism growth to remain healthy in 2024, with Asia continuing to see travel growth as outbound travel from China improves [11]. - Net sales in Asia rose by 61.7% in 2023, driven by an 88.4% increase in net sales in China due to the recovery in domestic travel [47]. - The Group anticipates steady growth in travel in North America and Europe, with stronger prospects in Europe due to the return of Chinese travelers [11]. - Net sales in North America increased by US$149.9 million, or 13.4% (+13.7% constant currency) for the year ended December 31, 2023 [182]. - Net sales in Europe increased by US$110.9 million, or 16.7% (+16.8% constant currency), for the year ended December 31, 2023, when excluding the Russia Net Sales [118]. Operational Efficiency - The Group maintains disciplined expense management on fixed selling, general and administrative (SG&A) expenses, expecting fundamentally higher profitability from a more efficient cost structure [11]. - Fixed SG&A expenses improved to 22.7% of net sales in 2023, 140 basis points lower than the 24.1% in 2022 [56]. - The reduction in net debt and strong adjusted EBITDA growth reflects effective cash and debt management strategies [62]. - The company plans to maintain discipline in managing expenses to drive operating leverage and sustain strong Free Cash Flow generation [96]. Future Outlook - The Group plans to leverage its regional management structure and distribution expertise to extend its brands into new markets [6]. - The Group will continue to invest in marketing to drive further net sales growth [40]. - Global travel and tourism growth is expected to remain healthy, with international tourism projected to fully recover to pre-pandemic levels in 2024, showing a 2% increase compared to 2019 [98]. - The company expresses confidence in capturing opportunities from ongoing growth in travel and tourism through product innovation and brand communication [69].

Investment Rating - The report assigns an "Add" rating for the company, marking the first coverage of the stock [2][3]. Core Views - The company reported a strong recovery in global travel demand, with a 27.9% year-on-year increase in revenue to $3.68 billion for 2023, and a 50.2% increase in adjusted EBITDA to $710 million [3]. - The company expects a comparable revenue growth of 10-12% for 2024, particularly optimistic about the consumption potential in China [3]. - The company is on a path of high-quality scale expansion, with a focus on brand marketing and cost control, aiming to maintain a gross margin close to 60% [3]. Summary by Sections Financial Performance - For 2023, the company achieved a total revenue of $3.68 billion, with a year-on-year growth of 27.9% [4]. - Adjusted EBITDA for 2023 was $710 million, reflecting a 50.2% increase year-on-year [3]. - The net profit attributable to shareholders for 2023 was $417 million, up 33.4% year-on-year [4]. Product and Brand Analysis - Revenue growth was balanced across travel and non-travel categories, with travel products accounting for 66% of total revenue and non-travel products 34% [3]. - High-end brand Tumi led the growth, with a year-on-year revenue increase of 36% [3]. Regional Performance - Asia outperformed other regions with a 62% year-on-year increase in comparable revenue, surpassing North America as the largest revenue contributor [3]. - Revenue contributions from Asia, North America, Europe, and Latin America were 39%, 34%, 21%, and 6%, respectively [3]. Channel Performance - Direct-to-Consumer (DTC) sales grew by 34% year-on-year, while wholesale sales increased by 27% [3]. - DTC accounted for 39% of total revenue, up 1.3 percentage points from the previous year [3]. Profitability and Cash Flow - The gross margin improved by 3.5 percentage points to 59.3%, reaching a historical high [3]. - Free cash flow for the year was $290 million, a 241% increase year-on-year, with net debt decreasing to $1.8 billion [3]. Future Projections - The company projects net profits of $484 million, $559 million, and $628 million for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 16.0%, 15.5%, and 12.4% [4][5].

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The company achieved a record high EBITDA margin of 19.3% in 2023, with revenue reaching $3.68 billion, a year-on-year increase of 27.9%. On a comparable currency-neutral basis, revenue grew by 30.4% year-on-year [6][7] - The company has restarted dividends after a hiatus since 2020, distributing $150 million, which represents a payout ratio of 36% [6] - The company is expected to maintain high profitability levels in Q4 2023, with revenue projected at $950 million, and an adjusted EBITDA margin of 19.1% [6] Summary by Sections Financial Performance - In 2023, the company reported a net profit of $417 million, a year-on-year increase of 33.3%, and a currency-neutral increase of 34.6% [6] - The gross margin for 2023 was 59.3%, up 3.5 percentage points year-on-year [6] - The company’s revenue for Q4 2023 is expected to show a 15.1% increase compared to 2019 on a currency-neutral basis [6] Regional Performance - The Asia-Pacific region showed a 20% increase in revenue compared to 2019, while North America and Europe saw increases of 8% and 26.3%, respectively. Latin America experienced a significant growth of 71.6% [6] - The adjusted EBITDA margins by region for 2023 were 23.8% (Asia-Pacific), 20.4% (North America), 19% (Europe), and 13.9% (Latin America) [6] Brand Performance - The company’s three main brands, Samsonite, Tumi, and American Tourister, achieved revenues of $1.85 billion, $880 million, and $650 million, respectively, with year-on-year growth rates of 28%, 34%, and 26% [6] - Tumi led the growth across all regions, with revenue increases of 68% in Asia-Pacific and 71% in Latin America [6] Cost Management and Leverage - The company has reduced fixed costs as a percentage of revenue to 22.7% in 2023 from 27.3% in 2019, despite a 19% net reduction in store count [7] - Inventory levels were optimized, with a year-end inventory of $700 million, a 1% increase year-on-year, and a 5% decrease from the previous quarter [7] Profit Forecast and Valuation - The company is projected to achieve net profits of $485 million and $545 million in 2024 and 2025, respectively, with a PE valuation range of 14-15X for 2024 [7][8] - The estimated reasonable share price range for 2024 is between HKD 36.64 and HKD 39.25, based on a USD to HKD exchange rate of 7.83 [7]

Investment Rating - The investment rating for the company is "Buy" with a target price set at 30 HKD, maintaining the rating for the next 6 months [2][10]. Core Insights - The company has experienced significant revenue growth due to increased marketing investments aimed at capitalizing on the recovery of the global tourism and travel industry, with a 27.9% increase in revenue year-on-year for 2023 [2][10]. - The company's gross profit margin reached a historical high of 59.3%, reflecting improvements across all regions and brands, particularly in Asia [3][4]. - Direct-to-consumer (DTC) sales have shown substantial growth, with DTC retail revenue increasing by 34.3% year-on-year, contributing to 38.9% of total revenue [5][10]. Summary by Sections Financial Performance - In Q4 2023, the company reported revenue of 948 million USD, a year-on-year increase of 16.2%, while net profit decreased by 24.8% to 149 million USD. For the full year 2023, revenue was 3.682 billion USD, up 27.9%, and net profit was 417 million USD, up 33.4% [2][10]. - The adjusted EBITDA margin improved to 19.3%, an increase of 2.9 percentage points, driven by revenue growth and cost management [3][4]. Regional Performance - Revenue in China surged by 88.4% in 2023, contributing to a 61.7% increase in the Asia region, with other regions also showing strong growth: North America (13.7%), Europe (16.8%), and Latin America (25.7%) [2][10]. Brand Performance - Core brands such as Samsonite, Tumi, and American Tourister saw revenue increases of 30.1%, 35.8%, and 28.7% respectively, indicating strong demand driven by the recovery in the travel sector [2][10]. Future Outlook - The company anticipates steady growth in the global tourism industry in 2024, with plans to increase marketing investments to support new product lines, expecting marketing expenses to account for approximately 7.0% of sales [6][9][10].

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [7]. Core Views - The company reported a revenue of $3.682 billion for the fiscal year 2023, representing a year-on-year growth of 27.9% (30% excluding currency effects) [2]. - The net profit attributable to shareholders reached $417 million, a year-on-year increase of 33.3% (34.6% excluding currency effects) [2]. - The company anticipates a revenue growth of 10%-12% for 2024, with continued store expansion [2]. Financial Performance - The company achieved a revenue of $948 million in Q4 2023, marking a 15.8% year-on-year increase, and a net profit of $301 million, up 18.5% year-on-year [2]. - The Asia-Pacific region showed strong recovery, with revenue growth of 61.7%, driven by a resurgence in travel demand in China, which saw an 88.4% increase in revenue [2]. - The company opened a net of 67 new stores, bringing the total to 1,052, with Asia being the primary driver of this expansion [2]. Profitability Metrics - The gross margin improved to 59.3%, up 3.5 percentage points from the previous year, benefiting from higher margins in Asia and the TUMI brand [2]. - EBITDA margin also improved, reaching 19.3%, an increase of 2.9 percentage points year-on-year [2]. - The company generated $285 million in free cash flow, a 240.6% increase, and reduced its debt ratio from 2.85 times to 1.53 times [2]. Future Outlook - The company expects to maintain a gross margin above 60% in 2024 and plans to open approximately 60-70 new stores [2]. - Profit forecasts for the next three years are projected at $470 million, $530 million, and $602 million for 2024, 2025, and 2026, respectively [5].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported a net sales of $3,682.4 million, representing a 27.9% increase compared to $2,879.6 million in 2022[15]. - Gross profit for the same period was $2,182.8 million, up 36.0% from $1,605.4 million in the previous year, with a gross margin of 59.3%[15]. - Operating profit increased by 51.1% to $743.7 million from $492.1 million in 2022, with total expenses rising by 56.5% to $659.1 million[15]. - The net profit for the year was $450.3 million, a 33.1% increase from $338.3 million in 2022, with profit attributable to equity holders rising by 33.3% to $417.0 million[15]. - Adjusted net income was $392.4 million, reflecting a 32.5% increase from $296.0 million in the previous year[15]. - Adjusted EBITDA for the year was $709.3 million, a 50.2% increase compared to $472.3 million in 2022, with an adjusted EBITDA margin of 19.3%[15]. - Basic earnings per share increased by 32.7% to $0.289 from $0.218 in the previous year, while diluted earnings per share rose by 32.1% to $0.287[15]. - The company reported consolidated net sales of $3,682.4 million for the year ending December 31, 2023, representing a year-over-year growth of 30.4%[23]. - The company reported a total comprehensive income of $429.1 million for the year, compared to $367.7 million in 2022, marking a 17% increase[63]. Market and Sales Growth - Sales in China increased by 88.4% year-over-year, significantly contributing to a 61.7% rise in net sales across Asia[23]. - The company continues to explore market opportunities and strategies for expansion, although specific future outlooks were not detailed in the provided content[6]. - The company anticipates steady growth in the global travel and tourism industry in 2024, driven by recovering consumer demand[28]. - The company plans to allocate approximately 7.0% of net sales to marketing expenses in 2024 to support new product lines[29]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[60]. - The company is currently evaluating the potential impact of the IAS 21 amendment on its consolidated financial statements, effective from January 1, 2025[138]. Cash Flow and Debt Management - Free cash flow for the year ended December 31, 2023, was $284.5 million, an increase of $201.0 million or 240.6% from $83.5 million in the previous year[19]. - As of December 31, 2023, the cash and cash equivalents were $716.6 million, with total financial debt of $1,824.0 million, resulting in net debt of $1,107.4 million[19]. - Net debt decreased from $1.4 billion at the end of 2022 to $1.1 billion by December 31, 2023, resulting in a net leverage ratio improvement to 1.53 times[27]. - The total liquidity amounted to $1,562.0 million, including cash and cash equivalents of $716.6 million and available borrowings of $845.4 million[11]. - The company issued new preferred credit facilities amounting to $1.5 billion, while settling past preferred credit facilities resulted in a cash outflow of $1.6 billion[70]. - The company has secured a new revolving credit facility with no outstanding amounts as of December 31, 2023[198]. Marketing and Investment - The marketing expenses increased by $85.5 million or 54.8% to $241.5 million for the year ended December 31, 2023, representing 6.6% of net sales[19]. - Capital expenditures increased to $110.1 million in 2023 from $62.8 million in 2022, aimed at expanding retail operations and investing in new product innovations[41]. - The company plans to increase marketing investment to approximately 7.0% of net sales in 2024 to support further growth[44]. Sustainability and Corporate Responsibility - The proportion of products made from recycled materials in net sales increased from approximately 23% in 2022 to about 34% in 2023[43]. - The company aims to continue increasing sales and profitability while striving to become the most sustainable fashion luggage and suitcase company globally[45]. Operational Efficiency - The company will continue to strictly limit promotional discounts to maintain improved gross margins[45]. - The focus will be on cash management to generate strong free cash flow, enhancing flexibility in capital allocation[45]. - The company will manage fixed SG&A expenses to achieve operational leverage and sustained profit growth[45]. Accounting and Financial Reporting - The company is committed to maintaining strong internal controls and governance to ensure the accuracy of its financial reporting[54]. - The group has consistently applied the significant accounting policy information as presented in the consolidated financial statements for all periods[85]. - The group recognizes financial assets and liabilities at the initial date of their occurrence[113]. - The group assesses uncertain tax treatments and recognizes tax reserves based on expected value and the most likely amount[128]. Future Outlook - The company anticipates strong growth in the global travel industry in 2024, with international tourism expected to fully recover to pre-pandemic levels[44]. - Management has expressed confidence in the company's ongoing viability and growth potential despite market challenges[60].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SAMSONITE INTERNATIONAL S.A. 13-15 avenue de la Liberté, L-1931 Luxembourg R.C.S. LUXEMBOURG: B 159.469 （於盧森堡註冊成立之有限公司） （股份代號：1910） 截至 2023 年 9 月 30 日止期間之季度報告 新秀麗國際有限公司（「本公司」，連同其綜合附屬公司統稱為「本集團」）董事會欣然呈列本集團於 2023年 9 月 30 日以及截至該日止三個月及九個月期間之未經審計綜合財務及業務回顧，連同截至 2022年 9月 30日止三個月及九個月 期間之比較數字。本公告是根據《證券及期貨條例》第 XIVA 部內幕消息條文及《香港聯合交易所有限公司證券上市規 則》第13.09(2)(a)條作出。 財務業績概要及財務摘要 財務業績概要 於本公告內，截至 2023年9月30日止三個月及九個月的若干財務業績與截至 ...

Financial Performance - Samsonite achieved consolidated net sales of US$1,776.2 million for the first half of 2023, an increase of 45.7% compared to 2022 and 16.2% compared to 2019[3]. - For the six months ended June 30, 2023, consolidated net sales increased to $1,776.2 million, a 39.8% increase compared to $1,270.2 million in the same period of 2022[56]. - Gross profit for the same period was $1,043.6 million, reflecting a 47.5% increase from $707.4 million in 2022[56]. - Operating profit rose significantly by 95.3% to $312.1 million, up from $159.9 million in the prior year[56]. - Profit for the period increased by 150.7% to $171.4 million, compared to $68.5 million in the previous year[56]. - Adjusted EBITDA for the six months ended June 30, 2023, was $334.3 million, a 70.9% increase from $195.6 million in 2022[56]. - Adjusted Net Income increased by 104.9% to $170.9 million, compared to $83.3 million in the same period of 2022[56]. - Basic earnings per share rose to $0.106, a 170.4% increase from $0.039 in the prior year[56]. - The Group's total liquidity as of June 30, 2023, is US$1,344.3 million, consisting of US$599.0 million in cash and cash equivalents and US$745.4 million available under the revolving credit facility[24]. - The total net leverage ratio is below pre-pandemic levels, calculated by dividing total consolidated net debt minus unrestricted cash by consolidated Adjusted EBITDA for the trailing four fiscal quarters[25]. Market Recovery and Growth Prospects - The group expects a quick recovery in its business in China, with outbound travel from China anticipated to accelerate in the coming months[21]. - The group anticipates an acceleration in the recovery of international travel globally as long-haul flight capacity continues to increase[21]. - Business in China and Asia is rapidly recovering, with expectations for accelerated growth in outbound tourism from China in the coming months[27]. - The strong growth in travel during the summer of 2023 is expected to drive continued demand and business growth[91]. - The recovery in outbound travel from China is expected to accelerate, driving further net sales growth in Asia, Europe, and North America[138]. - The summer travel season in the Northern Hemisphere is expected to be strong due to pent-up demand in North America and Europe, and the reopening of China and other major Asian markets[141]. Marketing and Sales Strategy - The company aims to increase the proportion of net sales from its direct-to-consumer e-commerce channel[21]. - Samsonite plans to invest in marketing with a target advertising spend close to 6.5% of its consolidated net sales for 2023[21]. - The Group plans to increase marketing investments in 2023, targeting advertising expenses to account for approximately 6.5% of total net sales to capitalize on the recovery of the travel industry[27]. - The company plans to increase marketing spend to approximately 6.5% of net sales in 2023, up from 5.4% in 2022, to support ongoing recovery in travel[109]. - The Group's marketing expenses as a percentage of net sales increased by 190 basis points from 4.5% to 6.4% for the six months ended June 30, 2023[61]. Product Development and Innovation - The company is focused on developing lighter and stronger new materials and innovative functionalities through continued investment in research and development[21]. - Continued investment in research and development is planned to create lighter, more durable materials and innovative features for consumers[27]. - The company plans to invest in product innovation, sustainability initiatives, and enhancements to its global retail store network to capitalize on ongoing travel recovery and drive net sales growth[140]. Sustainability Commitment - The company emphasizes its commitment to sustainability through its "Our Responsible Journey" initiatives, integrating environmental, social, and governance (ESG) practices into its core business[21]. - The commitment to sustainability and innovation, along with a diverse geographic footprint and complementary brands, is expected to strengthen Samsonite's market position and drive sustainable long-term growth[140]. - A new sustainability materiality assessment will be conducted starting in Q3 2023, involving key stakeholders to inform new targets and initiatives on product sustainability and other material topics[142]. - The implementation of a new sustainability software system aims to strengthen systems and processes, with a goal of achieving third-party limited assurance[142]. - The company is onboarding and growing internal ESG resources to support its sustainability efforts[142]. Operational Efficiency - The Group will maintain disciplined expense management on fixed selling, general, and administrative expenses while making selective investments in core strategic functions[27]. - Fixed SG&A expenses as a percentage of net sales were 23.0% for the first half of 2023, down from 26.2% in the first half of 2022[74]. - The company will focus on managing discounting and promotional activities, as well as non-marketing SG&A expenses, to drive positive operating leverage and improve net sales margins[140]. Brand Performance - The Tumi brand's net sales increased by 51.7% year-on-year, raising its share of total net sales to 23.7% in the first half of 2023[115]. - All core brands showed strong growth, with Samsonite's net sales up by 47.1% and American Tourister's by 42.5% compared to the same period in 2022[115]. - The Samsonite brand recorded net sales of US$880.3 million, up 42.0% year-on-year, while Tumi's net sales increased by 48.5% to US$421.1 million[177]. Distribution Channels - The Group's net sales by distribution channel showed a strong performance, with direct-to-consumer sales contributing significantly to overall growth[195]. - Direct-to-consumer (DTC) sales rose to US$669.0 million, reflecting a 46.4% increase from US$456.9 million in the prior year[196]. - The DTC segment accounted for 37.7% of total net sales in the first half of 2023, up from 36.0% in the first half of 2022[196]. - The wholesale channel represented 62.3% of total net sales, while DTC accounted for 37.7% in the first half of 2023[196]. - The company continues to focus on expanding its distribution channels and enhancing its e-commerce capabilities[198].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SAMSONITE INTERNATIONAL S.A. 13-15 avenue de la Liberté, L-1931 Luxembourg R.C.S. LUXEMBOURG: B 159.469 （於盧森堡註冊成立之有限公司） （股份代號：1910） 截至 2023年 6月 30日止六個月 中期業績公告 ...