Financial Performance - For the three months ended March 31, 2025, net sales were 859.6 million for the same period in 2024[12]. - Gross profit for the same period was 519.5 million year-over-year[12]. - Operating profit decreased by 26.9% to 149.8 million in the previous year[12]. - Net profit for the period was 91.5 million in the prior year[12]. - Earnings attributable to equity holders decreased by 42.6% to 83.9 million year-over-year[12]. - Adjusted net income was 87.1 million in the same quarter last year[12]. - Adjusted EBITDA was 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 0.058 in the prior year[12]. - Diluted earnings per share fell by 40.0% 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 340.1 million in the previous year[37]. - North America net sales were 285.3 million in the prior year[37]. - Europe net sales remained unchanged at 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 1,194.3 million[16]. - Operating cash flow for the three months ended March 31, 2025, was 8.5 million[22]. - The company experienced a decrease in cash and cash equivalents by 601.7 million[22]. - The adjusted free cash flow for the three months ended March 31, 2025, was 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].
新秀丽(01910) - 2025 Q1 - 季度业绩