Sams 👍nite OUR RESPONSIBLE JOURNEY 2021 Annual Report 年報 Samsonite International S.A. 新秀麗國際有限公司 Stock Code 股份代號 1910 OUR RESPONSIBLE JOURNEY We are pleased with Samsonite's progress in 2021. With increased vaccination rates, easing of social-distancing measures and reopening of domestic travel in markets around the world, our performance markedly improved. With our strong financial position, proven discipline in controlling costs and managing cash, as well as our highly responsive, decentralized management ...

| --- | --- | --- | --- | |--------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | since 1910 YOUR EMPOWERING | | | | | INTERIM REPORT 中期報告 2021 | | | | | Samsonite International S.A. 新秀麗國際有限公司 | | | | Stock Code 股份代號 1910 SAMSONITE made very encouraging progress during the first half of 2021, particularly during the second quarter. With increased vaccination rates, relaxation of social-distancing measures and the re ...

Samsonite International S.A. 新秀麗國際有限公司 Stock Code 股份代號 1910 Our R esp o nsible Journey Annu a l Repo rt 2020 年年報 Sams�nte ebags @xtrem We remain confident in Samsonite's long-term prospects. Because of the unwavering commitment of our corporate, regional and country management teams and our business partners around the world, the responsiveness of our organization, and our incredible portfolio of brands – each with its rich heritage, unique DNA and strong brand loyalty – Samsonite is well-positioned for lon ...

Samsonite International S.A. 新秀麗國際有限公司 Stock Code 股份代號 1910 Securipak OUR RESPONSIBLE JOURNEY Norman Samsonite has shown remarkable agility in adapting its organization and cost base in the face of unprecedented challenges presented by the COVID-19 pandemic. While travel and tourism have invariably bounced back from past disruptions, recovery from the impacts of the COVID-19 pandemic is expected to be protracted compared to prior downturns. Nevertheless, we remain optimistic about the long-term growth prosp ...

Sams North America Asia Europe Latin America WE CARRY THE WORLD 1 ANNUAL REPORT 2019年年報 Stock Code 股份代號 1910 Samsonite International S.A. 新秀麗國際有限公司 | --- | --- | --- | --- | |------------|--------|-------------|-----------| | | | | | | | | | | | Sams | | TITOM | | | (米) speck | | HIGH SIERRA | KAMILIANT | | | | | | | eBags' | &xtrem | Lipault | hartmann | Latin America Î North America Î Samsonite's strength and resilience come from our consistent efforts to diversify the Group's business across geographies, ...

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].