Financial Performance - Net sales reported at $3,638.8 million, a decrease of 4.2% compared to the previous year[21]. - Operating profit decreased to $283.0 million, down 39.4% from the prior year[21]. - Profit for the year was $153.4 million, reflecting a 40.3% decline year-over-year[21]. - Profit attributable to equity holders was $132.5 million, a decrease of 44.0% compared to the previous year[21]. - Adjusted Net Income was $215.9 million, down 26.7% from the prior year[21]. - Adjusted EBITDA reported at $492.2 million, a decrease of 19.8% year-over-year[21]. - Adjusted EBITDA Margin was 13.5%, down from 16.2% in the previous year[21]. - Basic earnings per share (EPS) was $0.093, a decline of 44.1% compared to the previous year[21]. - Diluted EPS also reported at $0.093, down 43.8% year-over-year[21]. - Adjusted Basic EPS was $0.151, reflecting a decrease of 26.9% from the prior year[21]. Market Strategy - Samsonite aims to increase shareholder value through sustainable revenue and earnings growth, focusing on free cash flow generation[11]. - The company plans to enhance direct-to-consumer sales, targeting an increase in e-commerce net sales and expanding its physical retail presence[11]. - Samsonite's strategy includes leveraging regional management and distribution expertise to penetrate new markets and deepen existing channels[11]. - The company continues to diversify its business across geographies, brands, product categories, and distribution channels to enhance long-term growth and shareholder value[39]. - The Group's strategy includes investing resources to support the growth of its DTC e-commerce business and targeted expansion of its bricks-and-mortar retail business[117]. Brand Performance - The Group's diversified brand portfolio includes well-known names such as Samsonite®, Tumi®, and American Tourister®, catering to various consumer price points[10]. - The Tumi brand saw net sales growth of 1.8% in 2019, with significant gains in Asia (+8.7%), Europe (+15.0%), and Latin America (+42.4%), despite a decline in North America[40]. - American Tourister recorded a 1.0% increase in sales, while Samsonite brand sales remained stable with a slight decrease of 0.5%[43]. - Tumi brand net sales increased by US$24.0 million, or 14.6% (+14.9% constant currency) for the year ended December 31, 2019, compared to the previous year[146]. Cost Management - The company took decisive actions to manage business challenges and enhance competitive advantages for long-term growth[39]. - The company’s management team is focused on tightening expense and working capital controls to improve profitability going forward[42]. - Marketing expenses decreased by US$31.7 million or 14.3% to US$189.5 million for the year ended December 31, 2019, representing 5.2% of net sales[25]. - The Group recognized a non-cash impairment charge of US$86.4 million during the year, including US$48.0 million for eBags assets[26]. - The Group's profit improvement initiatives included costs that impacted the overall financial performance for the year[31]. Cash Flow and Debt - The Group generated $576.2 million of cash from operating activities during the year ended December 31, 2019, compared to $307.4 million for the previous year[32]. - As of December 31, 2019, the Group had cash and cash equivalents of $462.6 million and outstanding financial debt of $1,768.0 million[32]. - The net debt position of the Group was $1,305.3 million as of December 31, 2019, compared to $1,508.2 million in the previous year[32]. - The Group's pro forma net leverage ratio as of December 31, 2019, was 2.63:1.00, and the pro forma consolidated cash interest coverage ratio was 8.16:1.00 for the year ended December 31, 2019[45]. Sustainability Initiatives - The company is committed to incorporating environmental, social, and governance (ESG) principles into its core business practices[12]. - The Group is committed to sustainability, launching a global strategy titled 'Our Responsible Journey' on March 11, 2020[46]. - The long-term goal for the Group is to become carbon neutral by 2025, as part of its sustainability strategy launched on March 11, 2020[68]. - Since 2018, the Group has launched more than 50 collections worldwide that include sustainable materials, such as recycled PET and recycled nylon[67]. Challenges and Risks - The document contains forward-looking statements regarding future performance and market conditions, which are subject to risks and uncertainties[16]. - The decrease in operating profit and net income indicates challenges in the market environment and operational efficiency[2]. - The Group's performance was negatively impacted by headwinds in key markets including the U.S., Hong Kong, South Korea, and Chile, with a planned reduction in B2B sales in China during the first half of 2019[78]. - Due to uncertainties from the COVID-19 outbreak, the Board decided not to recommend a cash distribution to shareholders in 2020, with intentions to resume in future years post-recovery[45].

Company Overview - Samsonite International S.A. is the world's largest travel luggage company, with over 100 years of heritage[18]. - The company operates multiple brands across various price points, focusing on expanding its presence in both travel and non-travel product categories[18]. - The company has transformed its business model from reliance on a single brand to operating multiple brands globally[14]. Strategic Goals - The company aims to increase shareholder value through sustainable revenue and earnings growth, targeting a higher proportion of net sales from direct-to-consumer channels[18]. - The company plans to invest in research and development to create lighter and stronger materials and innovative functionalities[18]. - The company emphasizes the growth of its direct-to-consumer e-commerce sales and targeted expansion of its retail presence[18]. - Continued investment in marketing is aimed at supporting the global expansion of Tumi and enhancing visibility for other brands[18]. - The company leverages its regional management structure and distribution expertise to penetrate new markets and deepen existing channels[18]. - Samsonite's strategy includes developing a well-diversified, multi-brand, multi-category, and multi-channel business model[18]. - The Group's strategy focuses on diversifying its business across geographical markets, brands, product categories, and distribution channels to enhance resilience[44]. Financial Performance - The Group reported unaudited consolidated interim financial statements for the six months ended June 30, 2019, alongside comparative figures for the same period in 2018[23]. - Net sales for the six months ended June 30, 2019, were reported at $1,755.7 million, a decrease of 5.0% compared to $1,848.7 million in the same period of 2018[27]. - Operating profit decreased by 38.5% year-on-year to $124.0 million from $201.8 million[27]. - Profit for the period fell by 25.1% to $58.3 million compared to $77.9 million in the previous year[27]. - Profit attributable to equity holders decreased by 27.5% to $49.1 million from $67.8 million in the same period last year[27]. - Adjusted Net Income decreased by 19.0% to $97.0 million compared to $119.8 million in the previous year[27]. - Adjusted EBITDA was reported at $213.5 million, a decrease of 22.9% from $276.8 million in the same period of 2018[27]. - Basic earnings per share (EPS) decreased by 27.8% to $0.034 from $0.048 in the previous year[27]. - Diluted EPS also decreased by 27.2% to $0.034 from $0.047 in the same period last year[27]. - Adjusted Basic EPS decreased by 19.3% to $0.068 compared to $0.084 in the previous year[27]. - Adjusted EBITDA margin was reported at 12.2%, down from 15.0% in the same period of 2018[27]. Market Challenges - The company faced headwinds in the U.S., China, South Korea, and Chile, impacting overall sales performance[33]. - The strengthening of the US Dollar negatively impacted reported net sales by approximately US$65.2 million year-on-year, resulting in a 5.0% decrease in reported net sales to US$1,755.7 million[41]. - The company anticipates a more volatile second half of 2019 due to escalating U.S.-China trade tensions and other geopolitical factors[55]. Brand Performance - Tumi brand net sales grew by 4.8% in the first half of 2019, with significant increases in Asia (+11.9%), Europe (+20.4%), and Latin America (+178.2%), despite a 2.9% decline in North America[48]. - Samsonite brand net sales decreased by 2.4% in the first half of 2019, but new product launches are expected to improve performance[52]. - American Tourister brand net sales decreased by 0.8% year-on-year, following a strong first half in 2018 with 24.2% growth[51]. Cost Management - The management team implemented tighter expense and working capital controls, which began to positively impact profitability in the second quarter of 2019[42]. - The Group is focused on managing its cost base to position for future growth and has implemented expense and working capital controls[65]. - The company plans to moderate marketing spend in the second half of 2019 to address current business challenges[48]. Cash Flow and Debt - The Group generated $192.6 million of cash from operating activities during the six months ended June 30, 2019, compared to $56.2 million for the same period in the previous year[38]. - Cash and cash equivalents as of June 30, 2019, were $489.3 million, with outstanding financial debt of $1,922.1 million, resulting in a net debt position of $1,432.8 million[38]. - The Group's net debt position was US$1,432.8 million as of June 30, 2019, a reduction of US$155.6 million compared to the same date a year ago[55]. Future Outlook - The Group expects profit improvement initiatives to enhance results going into the remainder of 2019 and into 2020[44]. - The company aims to enhance profitability through cost-cutting initiatives and targeted retail expansion while maintaining control over non-advertising SG&A expenses[71]. - Significant investments in product research and development are planned to drive global brand success, with a strong new product pipeline for the remainder of the year[70].

Financial Performance - Samsonite reported a continuous annual increase in turnover for the seventh consecutive year since its flotation in 2011, indicating strong business fundamentals [2]. - For the year ended December 31, 2018, the Group's net sales reached a record level of US$3,797.0 million, reflecting an increase of 8.8% from the previous year [10]. - Gross profit margin increased to 56.5% for the year ended December 31, 2018, up from 56.1% for the year ended December 31, 2017 [10]. - Operating profit increased by US$43.5 million, or 10.3%, year-on-year to US$467.4 million [11]. - Adjusted Net Income increased by US$34.0 million, or 13.0%, to US$294.5 million for the year ended December 31, 2018 [11]. - The Group's reported net income decreased by US$98.2 million, or 27.6%, to US$257.2 million due to non-cash expenses and tax impacts [12]. - Profit attributable to equity holders increased by US$53.3 million, or 23.9% (+23.0% constant currency), excluding certain non-cash charges and tax impacts, while reported profit decreased by US$97.5 million, or 29.2%, to US$236.7 million [13]. - Adjusted EBITDA increased by US$33.4 million, or 5.8% (+5.7% constant currency), to US$613.6 million, with an adjusted EBITDA margin of 16.2% compared to 16.6% the previous year [13]. - The Group's financial metrics are presented alongside non-IFRS measures to provide a comprehensive view of operational performance [10]. Market Strategy and Growth - The company aims to increase shareholder value through sustainable revenue and earnings growth, focusing on free cash flow generation [6]. - Samsonite plans to enhance its direct-to-consumer channel, targeting an increase in e-commerce net sales and expanding its physical retail presence [6]. - The company will continue to invest in marketing to support the global expansion of Tumi and enhance visibility for its other brands, including Samsonite and American Tourister [6]. - The management emphasizes the importance of leveraging regional management structures and marketing expertise to penetrate new markets [6]. - Samsonite's strategic focus includes increasing the proportion of net sales from direct-to-consumer channels [6]. - The company aims to diversify into a multi-brand, multi-category, and multi-channel luggage and accessories business [6]. - The company is focused on expanding Tumi's international presence and investing in product launches and marketing for core brands [36]. - The long-term outlook for the global bags and luggage market remains promising, with continued investment planned to drive future growth [68]. Sales Performance by Region and Brand - Net sales in North America increased by 6.5% year-on-year to US$1,483.0 million, with organic growth of 3.9% excluding eBags [48]. - The Group's net sales in Asia increased by 10.2% to US$1,324.2 million, driven by strong performances from Tumi, American Tourister, and Samsonite brands [48]. - Tumi achieved an 11.9% increase in net sales to US$762.1 million in 2018 [28]. - American Tourister recorded net sales of US$667.8 million in 2018, an increase of 16.5% compared to 2017 [29]. - Net sales in Europe increased by 8.6% to US$809.9 million in 2018, driven by strong performances in Italy (+8.1%), the UK (+10.3%), Spain (+5.7%), and Russia (+25.8%) [49]. - Latin America saw a 15.5% year-on-year increase in net sales to US$176.4 million, with Mexico growing by 12.0% and Brazil by 43.1% [51]. E-commerce and Direct-to-Consumer Sales - DTC e-commerce net sales increased by 31.3% to US$378.8 million in 2018, with a growth of 28.4% excluding eBags [33]. - Total retail net sales growth was 11.6%, driven by a 3.2% same-store sales increase and the addition of 84 new company-operated retail stores in 2018 [33]. - DTC net sales as a percentage of total business rose from 33.4% in 2017 to 35.9% in 2018 [33]. - Overall DTC sales increased by 16.5% to $1,361.5 million, representing 35.9% of total net sales, up from 33.4% in the previous year [61]. - E-commerce sales accounted for $580.8 million, or 15.3%, of total net sales in 2018, representing a year-on-year increase of $92.8 million, or 19.0% [110]. Financial Health and Debt Management - The Group generated US$307.4 million of cash from operating activities, down from US$341.3 million in 2017, with cash and cash equivalents of US$427.7 million and outstanding financial debt of US$1,935.8 million as of December 31, 2018 [13]. - The Group's net debt position improved by US$100.9 million year-on-year to US$1,508.2 million as of December 31, 2018 [26]. - The refinancing involved the issuance of €350.0 million 3.500% senior notes due 2026, which were used to refinance original senior credit facilities and cover associated costs [13]. - The new senior credit facilities include a US$828.0 million senior secured term loan A facility and a US$665.0 million senior secured term loan B facility, with lower interest rates compared to the original facilities [16]. - Pro forma total net leverage ratio improved to 2.45:1.00 as of December 31, 2018, compared to 2.74:1.00 at the same date the previous year [68]. Operational Efficiency and Cost Management - Distribution expenses as a percentage of net sales increased to 31.9% in 2018, up from 30.7% in 2017 [63]. - General and administrative expenses decreased by US$6.9 million, or 2.9%, to US$233.0 million, representing 6.1% of net sales [187]. - Average inventory turnover days increased to 133 days in 2018 from 120 days in 2017, attributed to higher inventory to support customer demand and retail store expansion [66]. - Net working capital efficiency improved from 14.0% at the end of H1 2018 to 13.6% at the end of 2018 [34]. Research and Development - Research and development investments will focus on creating lighter and stronger materials, advanced manufacturing processes, and innovative designs [6]. - The company is diversifying its supplier base to improve sourcing capabilities while maintaining quality and cost control [36]. - Significant investments in product research and development and marketing are planned to fuel brand success globally [68].