Financial Data and Key Metrics Changes - The company reported Q1 sales of approximately $797 million, a decrease of 4.5% compared to the previous year, which was a record Q1 for the business [9][49] - Gross margin for Q1 was 59.4%, down from 60.4% in the previous year, attributed to a geographic mix with lower sales in higher-margin regions [12][49] - Adjusted EBITDA for Q1 was $128 million, with an EBITDA margin of 16%, down from the record number in Q1 of the previous year [13][49] - Adjusted net income for Q1 was $52 million, compared to $87 million in the previous year [49] Business Line Data and Key Metrics Changes - The largest core brands, Samsonite and Tumi, experienced declines of 2.6% and 2% respectively, while American Tourister saw a decline of nearly 11% due to softer consumer sentiment [11][22] - Non-travel sales accounted for 34% of total sales, showing growth opportunities in this underpenetrated market [37] Market Data and Key Metrics Changes - North America sales were down 8% in Q1, with a slight adjustment indicating a 5% decline when accounting for a wholesale customer pulling orders [15][19] - Europe showed strong growth of 4.4% in Q1, with expectations for continued growth in Q2 [16][21] - Latin America was flat in Q1 but is expected to return to double-digit growth in Q2 [17][21] - Asia saw a decline of 7% in Q1, with some markets like India showing positive growth, while South Korea faced significant challenges [14][18] Company Strategy and Development Direction - The company is focused on profitable, sustainable growth while maintaining cost discipline and strategic investments for long-term growth [8][78] - There is a strong emphasis on product innovation and development, with new collections launching in Q2 and Q3 [41][46] - The company is taking decisive actions to mitigate the impact of tariffs, including diversifying sourcing and implementing price increases [27][29] Management's Comments on Operating Environment and Future Outlook - Management noted that while consumer sentiment is softening, travel remains a priority for consumer spending, with a projected growth of 4% to 5% in travel for the year [6][67] - The macroeconomic environment remains uncertain, but the company is confident in its ability to navigate challenges and expects to come out stronger post-tariff adjustments [4][68] - The outlook for Q2 is expected to be similar to Q1, with potential slight improvements in certain markets [70][72] Other Important Information - The company is closely monitoring the dual listing preparations amid current market uncertainties [79] - The company maintains a healthy balance sheet with net debt of approximately $1.2 billion and liquidity of nearly $1.4 billion [58][64] Q&A Session Summary Question: Clarification on Q2 trading and travel trends correlation - Management indicated that Q2 is expected to be similar to Q1, with slight improvements in Asia and Latin America returning to trend [86][87] - The correlation between travel trends and sales growth is expected to remain strong, with potential benefits in the back half of the year [88][89] Question: Pricing strategies and impacts - Management is taking actions to offset tariff impacts through pricing adjustments, primarily in the U.S., but not providing specific numbers at this time [91][92]

Financial Performance - Samsonite Group S A 的净销售额为 7.97 亿美元，与 2024 年第一季度相比下降 4.5%[17] - 经调整后的 EBITDA 为 1.28 亿美元，调整后的 EBITDA 利润率为 16.0%，比 2024 年第一季度下降 280 个基点[17] - 2025 年第一季度的毛利率保持在 59.4% 的强劲水平，略低于 2024 财年的 60.0%[17] - 2025 年第一季度的广告支出为 4200 万美元，占净销售额的 5.3%，比 2024 年第一季度的 6.1% 减少了 1100 万美元[71] Regional Performance - 亚洲净销售额下降 7.0%，但印度净销售额增长 2.6%[22] - 北美净销售额下降 8.0%，部分原因是批发时机变化[22] - 欧洲净销售额增长 4.4%，所有核心品牌均实现正增长[22] - 拉丁美洲净销售额与去年同期持平，墨西哥净销售额下降 18.0%[22] Brand Performance - 调整北美批发时机变化后，Samsonite 品牌净销售额下降 2.6%[25] - TUMI 品牌增长 10.9%，主要受中国市场强劲的 DTC 电子商务业绩推动[28] - American Tourister 下降，主要原因是宏观经济不确定性抑制了消费者信心[25] Financial Position - 截至 2025 年 3 月 31 日，净债务为 11.94 亿美元[71] - 截至 2025 年 3 月 31 日，流动性约为 13.46 亿美元，其中包括循环信贷工具 (RCF) 下可用的 7.44 亿美元[71]

Financial Performance - For the three months ended March 31, 2025, net sales were $796.6 million, a decrease of 7.3% compared to $859.6 million for the same period in 2024[12]. - Gross profit for the same period was $473.1 million, down 8.9% from $519.5 million year-over-year[12]. - Operating profit decreased by 26.9% to $109.5 million from $149.8 million in the previous year[12]. - Net profit for the period was $55.2 million, reflecting a 39.7% decline from $91.5 million in the prior year[12]. - Earnings attributable to equity holders decreased by 42.6% to $48.2 million from $83.9 million year-over-year[12]. - Adjusted net income was $52.0 million, down 40.3% from $87.1 million in the same quarter last year[12]. - Adjusted EBITDA was $127.6 million, a decrease of 20.9% compared to $161.2 million in the previous year[12]. - The adjusted EBITDA margin was 16.0%, down from 18.8% year-over-year[12]. - Basic earnings per share decreased by 40.2% to $0.035 from $0.058 in the prior year[12]. - Diluted earnings per share fell by 40.0% to $0.034 compared to $0.057 in the same quarter last year[12]. Sales and Market Trends - The company's travel products accounted for 64.0% of net sales, while non-travel products made up 36.0%[25]. - Direct-to-consumer (DTC) sales represented 38.2% of net sales, with 1,128 self-operated retail stores and a strong e-commerce presence[26]. - The wholesale business contributed 61.8% of net sales, including partnerships with major physical and digital retailers[26]. - Net sales in Asia were $307.0 million, representing 38.5% of total net sales, a decrease of 9.7% compared to $340.1 million in the previous year[37]. - North America net sales were $261.5 million, accounting for 32.8% of total net sales, down 8.3% from $285.3 million in the prior year[37]. - Europe net sales remained unchanged at $175.5 million, representing 22.1% of total net sales, with a 4.4% increase when adjusted for constant currency[37]. - Latin America net sales were $52.5 million, accounting for 6.6% of total net sales, down 10.3% from $58.5 million in the previous year[37]. Operational Strategy - The company aims to expand its product portfolio and market coverage, including non-travel product categories[6]. - Samsonite Group is focusing on enhancing its direct-to-consumer (DTC) channels, including optimizing its retail store network and e-commerce platforms[6]. - The company is committed to upgrading and expanding its retail store network in the coming year[6]. - The company plans to continue investing in brand marketing to enhance product attractiveness and maintain competitive advantage[28]. - The company invested significantly in R&D for lighter, more durable materials and innovative designs to enhance product appeal[28]. Financial Health and Cash Flow - As of March 31, 2025, the company's cash and cash equivalents were $601.7 million, with total financial debt of $1,796.1 million, leading to a net debt of $1,194.3 million[16]. - Operating cash flow for the three months ended March 31, 2025, was $69.6 million, with net cash from operating activities at $8.5 million[22]. - The company experienced a decrease in cash and cash equivalents by $85.2 million, ending the period with $601.7 million[22]. - The adjusted free cash flow for the three months ended March 31, 2025, was $(41.2) million, compared to $6.5 million in the same period of 2024, indicating a significant negative shift[39]. - The company believes its existing cash and estimated cash flows will be sufficient to meet its operational and capital needs for the foreseeable future[99]. Compliance and Regulatory Environment - The company is focused on maintaining compliance with complex and evolving global regulations, including those related to sustainability and data protection[7]. - Samsonite Group is assessing the impact of geopolitical events on its business operations and global trade relationships[6]. Future Outlook - Future outlook includes potential risks and uncertainties that may significantly affect actual performance compared to forward-looking statements[5]. - The company anticipates that improving macroeconomic conditions could positively impact net sales, including an increase in orders from wholesale customers[31]. - The company has reduced the proportion of products sourced from China for the U.S. market from approximately 85% in 2018 to about 15% in 2024[32]. - Global air passenger volume is projected to grow to approximately 9.9 billion by 2025, with a compound annual growth rate of about 4%[33].

Core Insights - The article focuses on investment opportunities in Asia-listed stocks, particularly in the Hong Kong market, emphasizing deep value balance sheet bargains and wide moat stocks [1]. Group 1: Investment Strategy - The research service targets value investors looking for stocks with significant discrepancies between market price and intrinsic value [1]. - It emphasizes two main categories: deep value balance sheet bargains, which include net cash stocks and low price-to-book (P/B) stocks, and wide moat stocks, which are high-quality businesses with strong earnings potential [1]. Group 2: Research and Updates - The author provides a range of watch lists with monthly updates to assist investors in identifying potential investment opportunities [1].

Financial Performance - The Company reported solid performance in 2024, highlighting a resilient business model and improved margin profile[2]. - Net sales for the year ended December 31, 2024, were $3,588.6 million, a decrease of 2.5% compared to $3,682.4 million for 2023[46]. - Gross profit for 2024 was $2,152.2 million, reflecting a decrease of 1.4% from $2,182.8 million in 2023[46]. - Operating profit decreased by 15.4% to $629.3 million in 2024 from $743.7 million in 2023[46]. - Profit for the year attributable to equity holders was $345.6 million, down 12.9% from $396.9 million in 2023[46]. - Adjusted net income for 2024 was $369.8 million, a decrease of 5.8% compared to $392.4 million in 2023[46]. - Adjusted EBITDA for 2024 was $683.0 million, down 3.7% from $709.3 million in 2023[46]. - Basic earnings per share decreased by 13.0% to $0.239 in 2024 from $0.275 in 2023[46]. - Diluted earnings per share decreased by 13.1% to $0.237 in 2024 from $0.273 in 2023[46]. - The Company recorded net sales of US$3,588.6 million for the year ended December 31, 2024, a decrease of only 0.2% year-over-year[61]. - The Company's profit margin for 2024 was 10.4%, down from 11.7% in 2023[190]. Sales and Market Trends - Year-over-year constant currency net sales performance improved sequentially across regions in Q4 2024 compared to Q3 2024, despite an uncertain macroeconomic environment affecting consumer sentiment[18]. - Net sales for Q1 2025 are expected to decline low to mid-single digits on a constant currency basis compared to Q1 2024, with growth trends anticipated to improve throughout 2025[18]. - Sales in mature markets are expected to increase, while penetration in emerging high-growth regions will deepen[19]. - The Company recognizes the impact of trends in the travel industry, particularly air travel, on its business[30]. - The Company believes that strong travel trends in the coming years will support long-term business growth[19]. - The Company anticipates low to mid-single digits decline in net sales for Q1 2025 compared to Q1 2024, but expects growth trends to improve over the course of 2025[122]. - The global bags and luggage industry had approximately $87 billion in retail sales during 2024, with the company's travel products comprising 65.7% of its net sales[147][150]. Strategic Initiatives - The Company aims to increase shareholder value through sustainable revenue and earnings growth, focusing on brand elevation and innovation[16]. - The Company plans to expand its brand portfolio through accretive M&A and deepen penetration in emerging, high-growth regions[18]. - The Company is focused on expanding its travel and non-travel product offerings through innovation and sustainability improvements[18]. - The Company is preparing for a potential dual listing of its securities in the United States to enhance value creation for shareholders[22]. - The Company aims to expand its product offerings and market reach, particularly in the non-travel category[30]. - The Company plans to deepen penetration in emerging markets with higher growth potential while increasing sales in established markets[30]. - The Company is excited about new products and marketing programs surrounding the TUMI brand, which is celebrating its 50th anniversary in 2025[123]. - The Company believes it has significant opportunities to grow net sales by expanding into adjacent product categories and leveraging brand recognition[168]. Cost Management and Profitability - The Company is confident in maintaining a robust margin profile and delivering positive operating leverage through disciplined expense management[18]. - The Company aims to generate strong adjusted free cash flow, providing flexibility for future investments and shareholder returns[19]. - Adjusted free cash flow increased by US$26.5 million to US$311.0 million for the year ended December 31, 2024, compared to US$284.5 million for 2023[53]. - The Company maintains substantial liquidity of $1.4 billion as of December 31, 2024[77][79]. - The Company expects its strategy to broaden its product offering within the non-travel category will help mitigate the impact of global travel trends over time[174]. - The Company anticipates that the growth rate of its sales costs will be lower than the growth rate of its net sales in the long term due to strict cost management and a shift towards higher-margin brands, product lines, and channels[198]. Sustainability and Innovation - The Company is committed to sustainability and addressing climate change-related matters[31]. - The Company continues to focus on sustainability and innovation in its product offerings, aligning with evolving consumer demands[143]. - The share of the Company's net sales from products incorporating recycled materials increased to approximately 40% in 2024, up from about 34% in 2023[117]. - The Company invested significantly in research and development for new materials and innovative designs to enhance product desirability and sustainability[155][158]. Operational Highlights - The Company emphasizes a decentralized management structure to foster innovation and efficient decision-making[15]. - The performance of the Company's direct-to-consumer (DTC) channel, including the expansion of retail stores and e-commerce platforms, is a key focus[30]. - Direct-to-consumer (DTC) net sales increased by 2.7%, with DTC e-commerce net sales rising by 5.8% year-over-year, contributing 39.8% of total net sales[64]. - The Company operates robust DTC e-commerce platforms worldwide, contributing to significant growth across its brands and regions[162]. - The Company has streamlined its retail store fleet to focus on driving profitable growth and employs a targeted approach to new store openings[162]. Economic Outlook - The macroeconomic outlook remains uncertain, but global travel and tourism is expected to see steady growth in 2025, supporting consumer demand for the Company's products[83]. - International tourist arrivals are expected to grow by 3% to 5% in 2025 compared to 2024, according to the United Nations World Tourism Organization[9]. - The Company is aware of the risks related to consumer spending and general economic conditions affecting its operations[32]. - Macroeconomic factors have led to consumers becoming more selective with their spending, adversely affecting the Company's net sales during the year ended December 31, 2024[169].

Financial Data and Key Metrics Changes - The company reported Q4 net sales of $942 million, a 1% increase in constant currency compared to Q4 last year, which was up 21% versus 2019 [4] - Gross margin improved to 60.2%, up 30 basis points from the prior year, driven by disciplined promotion and discount strategies [5] - Adjusted EBITDA for Q4 was $195 million, with a record EBITDA margin of 20.7%, up 160 basis points year-over-year [6] - Free cash flow generation for Q4 was $135 million, an increase of $3 million from Q4 2023 [7] - For the full year, adjusted net income was $370 million, compared to $392 million in the prior year [94] Business Line Data and Key Metrics Changes - The Samsonite brand saw a 4.6% increase in Q4, while Tumi was up 4.4% in the same period [12][13] - American Tourister experienced a decline of 6.9% in Q4, but was up 1.3% when excluding India [14][15] - Non-travel product categories continued to grow, with a 2% increase overall across all brands [100] Market Data and Key Metrics Changes - Asia showed a sequential improvement, with a decline of 6% in Q4 compared to a 11.5% decline in Q3, largely influenced by India [8][10] - North America experienced a growth of 3.9% in Q4, recovering from an 8% decline in Q3 [10] - Europe delivered a solid performance with a 5.6% growth in Q4, while Latin America continued its strong trend with a 14% growth [11] Company Strategy and Development Direction - The company is focused on maintaining strong gross margins while investing in brand elevation and direct-to-consumer (DTC) channels [33][35] - There is a strategic emphasis on expanding the non-travel segment, which has shown growth potential [100] - The company plans to continue opening new stores, particularly in Asia and Europe, to enhance brand presence and consumer experience [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about travel trends remaining robust over the next several years, which is expected to drive long-term growth [111] - The company is seeing positive early signs in India and anticipates a recovery in the market [39][99] - Management acknowledged challenges in the premium luxury sector, particularly for Tumi, but noted a recovery in Q4 [100] Other Important Information - The company reduced inventory by $44 million compared to 2023, indicating effective inventory management [36] - The company has made significant progress in sustainability, with 40% of products incorporating recycled materials [75][80] Q&A Session Summary Question: What are the trends in the travel market? - Management noted that travel trends are expected to remain robust, which will support long-term growth [111] Question: How is the company managing its inventory levels? - The company successfully reduced inventory by $44 million, indicating effective management strategies [36] Question: What is the outlook for the Indian market? - Management indicated that there are signs of stabilization in India, with hopes for positive contributions in the future [99]

Financial Data and Key Metrics Changes - The company reported Q4 net sales of $942 million, a 1% increase in constant currency compared to Q4 last year, which was up 21% versus 2019 [5][27] - Gross margin improved to 60.2%, up 30 basis points from the prior year, driven by disciplined promotion and discount strategies [5][75] - Adjusted EBITDA for Q4 reached $195 million, with a record EBITDA margin of 20.7%, up 160 basis points year-over-year [7][71] - Free cash flow generation for the quarter was $135 million, an increase of $3 million from Q4 2023 [7][73] - For the full year, adjusted net income was $3.7 billion, slightly down from $3.92 billion the previous year [29][77] Business Line Data and Key Metrics Changes - The Samsonite brand saw a 4.6% increase in Q4, while Tumi was up 4.4% in the same period, indicating strong recovery post-pandemic [12][20] - American Tourister experienced a decline of 6.9% in Q4, but was up 1.3% when excluding India [14][15] - Non-travel product categories continued to grow, with a 2% increase overall across all brands [82] Market Data and Key Metrics Changes - In Asia, sales were down 6% in Q4, with India significantly impacting results, showing a decline of 27% [8][9] - North America showed improvement, with sales up 3.9% in Q4 compared to a decline of 8% in Q3 [10] - Europe delivered a solid performance with a 5.6% growth in Q4, while Latin America continued to grow at 14% [11][24] Company Strategy and Development Direction - The company is focused on brand elevation and maintaining a disciplined approach to expenses, with a commitment to managing costs effectively while expanding [6][30] - There is a strategic emphasis on direct-to-consumer (DTC) channels, which saw a slight increase in mix, contributing to gross margin benefits [29][50] - The company plans to continue investing in non-travel categories and expanding its retail footprint, particularly in Asia and Europe [25][53] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about travel trends remaining robust, which is expected to drive long-term growth [91] - There are positive signs of recovery in India, with expectations for improvement in Q1 2025 [9][80] - The company is monitoring consumer sentiment closely, especially in the premium and luxury segments, which have shown some softness [37][81] Other Important Information - The company has made significant progress in sustainability, with 40% of products incorporating recycled materials [63][67] - The company has a strong liquidity position with over $1.4 billion available as of year-end [74][86] - The company is celebrating Tumi's 50th anniversary with new product launches and marketing campaigns [59][60] Q&A Session Summary Question: What are the expectations for travel trends in the coming years? - Management indicated that travel trends are expected to remain robust, which will help deliver long-term growth for the business [91] Question: How is the company addressing the challenges in the Indian market? - Management noted that while India faced significant challenges, there are signs of stabilization and positive trends expected in Q1 2025 [9][80] Question: What is the company's strategy regarding sustainability? - The company highlighted its commitment to sustainability, with significant progress in incorporating recycled materials into products and achieving a strong sustainability rating [63][67]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a net sales of $3,588.6 million, a decrease of 2.5% compared to $3,682.4 million in 2023[12]. - Gross profit for the same period was $2,152.2 million, down 1.4% from $2,182.8 million in the previous year, resulting in a gross margin of 60.0%[12]. - Operating profit decreased by 15.4% to $629.3 million from $743.7 million in 2023[12]. - Net profit for the year was $372.6 million, reflecting a decline of 13.4% compared to $430.3 million in 2023[12]. - Earnings attributable to equity holders were $345.6 million, down 12.9% from $396.9 million in the prior year[12]. - Adjusted net income was $369.8 million, a decrease of 5.8% from $392.4 million in 2023[12]. - Adjusted EBITDA for the year was $683.0 million, down 3.7% from $709.3 million in the previous year[12]. - The adjusted EBITDA margin was 19.0%, slightly lower than 19.3% in 2023[12]. - Basic earnings per share decreased by 13.0% to $0.239 from $0.275 in the prior year[12]. - Diluted earnings per share also fell by 13.1% to $0.237 compared to $0.273 in 2023[12]. Market Trends and Strategies - The company expects net sales growth at constant currency rates for Q1 and the full year of 2025, alongside strong profit margin maintenance[5]. - The company aims to expand its product portfolio and market coverage, including non-travel categories[5]. - The company is focusing on increasing sales in mature markets and deeper penetration in emerging markets with higher growth potential[5]. - The company reported a strong performance in its direct-to-consumer (DTC) channels, including the successful expansion of self-operated retail stores and e-commerce platforms[5]. - The company emphasizes its commitment to innovation in design and sustainability, aiming to differentiate its products[5]. - The company is actively managing its channel mix and executing a multi-channel strategy[5]. - The company is focused on maintaining its brand strength and attractiveness in the market[5]. - The company is aware of the potential impacts of travel industry trends, particularly in air travel, on its business[5]. - The company expects steady growth in the global travel and tourism industry in 2025, supporting consumer demand for its products[22]. Consumer Behavior and Market Challenges - The company experienced a decline in consumer sentiment in key markets, impacting discretionary spending on high-end and luxury brands, alongside reduced retail customer traffic[14]. - Competitive pressures, particularly from increased discounting by rivals in various markets, notably India, affected the company's performance[14]. - Strong global travel and tourism trends helped mitigate the macroeconomic challenges faced during the fiscal year ending December 31, 2024[14]. - The fiscal year 2023 saw sales driven by post-pandemic recovery in Asia, particularly after China lifted restrictions, and increased sales to wholesale customers in North America[14]. Financial Management and Cost Control - The company is committed to managing raw material supply and costs effectively[5]. - Marketing expenses decreased by $14.5 million or 6.0% to $227.0 million for the fiscal year ending December 31, 2024, with marketing expenses as a percentage of net sales declining by 30 basis points to 6.3%[15]. - General and administrative expenses are expected to decrease by $19.6 million or 7.8% from $250.2 million in 2023 to $230.7 million in 2024, with the percentage of these expenses to net sales dropping from 6.8% in 2023 to 6.4% in 2024[19]. - The company aims to maintain strong profit margins through strict expense management and leveraging high-margin brands and channels[37]. Shareholder Returns and Capital Management - The company repurchased 62,610,300 shares for a cash outflow of $157.6 million as part of its share repurchase program[15]. - The board recommends a dividend distribution of $150.0 million for 2025, with a payout ratio of 43.4%, compared to a payout ratio of 37.8% for the $150.0 million distribution in 2024[21]. - The company distributed $150.0 million to equity holders during the year, reflecting ongoing shareholder returns despite the decline in net profit[61]. - Dividends paid to non-controlling interests were $19.7 million in 2024, compared to $12.6 million in 2023, indicating an increase of approximately 56.7%[198]. Operational Performance - The company plans to expand its global retail store network from 1,052 stores as of December 31, 2023, to 1,119 stores by December 31, 2024, resulting in a distribution expense increase of $34.5 million or 3.4% to $1,062.1 million for 2024[19]. - The DTC sales net increased by 2.7% year-over-year, contributing 39.8% to total net sales, up from 38.9% in the previous year[18]. - The company opened 67 new retail stores in 2024, maintaining the same growth rate as in 2023, bringing the total to 1,119 stores[30]. Sustainability and Corporate Responsibility - The company increased the proportion of products made from recycled materials in its net sales to approximately 40% in 2024, up from 34% in 2023 and 23% in 2022, reflecting the growing importance of sustainability as a consumer purchasing driver[35]. - The company’s environmental, social, and governance rating was upgraded from "A" to "AA" by MSCI, and it ranked 40th in Time magazine's "World's Best Companies in Sustainable Growth 2025" list[35]. Future Outlook - The company anticipates a mid-single-digit decline in net sales for Q1 2025 compared to Q1 2024, due to macroeconomic uncertainties affecting consumer sentiment[36]. - The company plans to continue investing in marketing to upgrade the TUMI brand, celebrating its 50th anniversary with new product launches and marketing initiatives[36].

Analyst Background - The analyst specializes in Asian equity markets with over a decade of experience on both the buy and sell sides [1] Investment Focus - The research service focuses on value investing in Asia-listed stocks, particularly in the Hong Kong market [4] - The strategy targets deep value balance sheet bargains such as net cash stocks, net-nets, low P/B stocks, and sum-of-the-parts discounts [4] - The service also identifies wide moat stocks, including "Magic Formula" stocks, high-quality businesses, hidden champions, and wide moat compounders [4] Service Offerings - The service provides monthly updated watch lists for value investors [4] - The analyst offers investment ideas for value investors seeking opportunities in Asian markets [4] Personal Investment - The analyst holds a beneficial long position in SAMSONITE INTERNATIONAL (1910:HK) through stock ownership, options, or other derivatives [2]

| --- | --- | --- | |------------------------------------------------|-------|-------| | | | | | | | | | Samsonite | | | | 2024 THIRD QUARTER RESULTS NOVEMBER 13, 2024 | | | | Samsonite International S.A. Stock Code: 1910 | | | G DISCLOSURE STATEMENT This presentation and the accompanying slides (the "Presentation"), which have been prepared by Samsonite International S.A. ("Samsonite" or the "Company"), do not constit ny offer or invitation to purchase or subscribe for any securities, and shall not form th ...