Financial Data and Key Metrics Changes - In Q4, the company returned to positive net sales growth with a reported increase of 2.2% and approximately 1% on a constant currency basis [3][4] - Gross margin improved to 60.3%, a 10-basis point increase from the previous year, attributed to regional mix and effective tariff mitigations [4][31] - Adjusted EBITDA margin was 20.3% for Q4, maintaining a strong performance while investing in new store openings [32] Business Line Data and Key Metrics Changes - The direct-to-consumer (D2C) business saw strong growth, with D2C e-commerce up 12% and D2C blended sales up 5.2% [12] - Non-travel categories grew by 6.7% year-over-year, now representing 37.6% of total sales [13] - Travel sales experienced a slight decrease of 2.2% compared to the previous year, but showed sequential improvement from -5.3% [14] Market Data and Key Metrics Changes - Asia showed significant improvement with a 5.1% growth on a constant currency basis in Q4, driven by strong performances in China, Korea, India, and Japan [8][9] - North America remained challenging but showed sequential improvements, particularly in the U.S. and Canada [9] - Europe experienced steady growth at 1% for both quarters, with D2C retail up 4.4% and e-commerce up over 9% [9] Company Strategy and Development Direction - The company plans to focus on amplifying brand awareness, enhancing digital capabilities, and expanding into lifestyle bags and accessories [15][18] - Marketing spend is expected to increase to 6.5% of net sales in 2026 to support strategic priorities [40] - The company is preparing for a dual listing in the U.S. to enhance shareholder value [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth driven by travel demand and strategic execution [38] - The ongoing conflict in the Middle East is expected to impact Q1 sales, with a forecast of flat growth on a constant currency basis [39] - The company remains focused on maintaining strong gross margins despite external uncertainties [39] Other Important Information - The company generated strong adjusted free cash flow of $246 million for the year, with a healthy balance sheet showing a net debt position of approximately $1.1 billion [35] - The company received recognition for sustainability efforts, ranking 74th in Time's World's Best Companies in Sustainable Growth for 2025 and 2026 [25] Q&A Session Summary Question: Performance by market and resilience trends - Management noted sequential improvement across all business areas, with specific growth in Japan, Korea, and China, while the Middle East faced challenges [47][48] Question: Cost pressures due to Middle East conflicts - Management acknowledged potential short-term impacts on shipping and raw material costs but emphasized their ability to manage inventory and maintain margins [49][50] Question: Margin expectations for Q1 and store expansion plans - Management indicated that gross margins are expected to remain strong, with store expansions focused on Asia and Europe, particularly for TUMI [55][56] Question: Revenue trends in North America and wholesale customer sentiment - Management observed that wholesale customers in North America are buying cautiously, with a mixed trend for TUMI and improving performance for other brands [62]

Financial Data and Key Metrics Changes - In Q4, the company returned to positive net sales growth with a reported increase of 2.2% and approximately 1% on a constant currency basis [3][4] - Gross margin improved to 60.3%, a 10 basis point increase from the previous year, attributed to regional mix and brand strength [4][31] - Adjusted EBITDA margin was 20.3% for Q4, maintaining a strong performance while investing in new store openings [32][34] - Adjusted net income for Q4 was $106 million, down from $116 million in the prior year [32] Business Line Data and Key Metrics Changes - The direct-to-consumer (D2C) business saw strong growth, with D2C e-commerce up 12% and D2C blended sales up 5.2% [12] - Non-travel categories grew by 6.7% year-over-year, now representing 37.6% of total sales [13] - Travel category sales decreased by 2.2% compared to the prior year but showed sequential improvement from a negative 5.3% [14] Market Data and Key Metrics Changes - Asia experienced a significant recovery with 5.1% growth on a constant currency basis in Q4, driven by strong performance in China, Korea, India, and Japan [8][9] - North America showed sequential improvement, although still facing challenges from prior year comparisons [9] - Europe maintained steady growth at 1% for both quarters, with strong D2C performance particularly in Q4 [9] Company Strategy and Development Direction - The company plans to focus on four strategic pillars: amplifying brand awareness, winning in digital, seizing opportunities in lifestyle bags, and enhancing product development [15][17] - Marketing spend is expected to increase to 6.5% of net sales in 2026 to support these strategic priorities [18][40] - The company is preparing for a dual listing in the U.S. to enhance shareholder value [29][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth driven by travel demand and strategic execution [38] - The ongoing conflict in the Middle East is expected to impact Q1 sales, with a forecast of flat growth on a constant currency basis [38][39] - The company aims to maintain strong gross margins despite uncertainties in the market [39] Other Important Information - The company generated strong adjusted free cash flow of $246 million for the year, with $170 million in Q4 [35] - The balance sheet remains healthy with a net debt position of approximately $1.1 billion [35] - The company received recognition for sustainability efforts, ranking 74th in Time's World's Best Companies in Sustainable Growth [25] Q&A Session Summary Question: Performance by market and resilience trends - Management noted sequential improvement across all business areas, with specific impacts in the Middle East and resilience in Japan, Korea, and China [47][48] Question: Cost pressures from Middle East conflicts - Management acknowledged early signs of cost impacts, particularly in shipping and raw materials, but emphasized their ability to manage margins effectively [49][50] Question: Margin expectations for Q1 and store expansion plans - Margins are expected to remain stable in Q1, with store expansions focused on Asia and Europe, particularly for TUMI [54][56] Question: Revenue trends in North America and wholesale customer sentiment - North America is experiencing a mixed trend, with sell-through strong but wholesale customers remaining cautious [62] Question: Shareholder return expectations post dual listing - The company plans to maintain a dividend payout ratio of around 45% of adjusted net income and will evaluate share buybacks after the dual listing [63][64]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported a net sales increase of 2.2% on a reported basis and approximately 1% on a constant currency basis, marking a return to positive growth [3][4] - Gross margin improved to 60.3%, a 10 basis point increase from the previous year, attributed to regional mix and effective tariff mitigation [4][30] - Adjusted EBITDA margin for Q4 was 20.3%, maintaining strong performance while investing in new store openings [31] Business Line Data and Key Metrics Changes - The direct-to-consumer (D2C) business saw significant growth, with D2C e-commerce up 12% and D2C blended sales up 5.2% [11] - The non-travel category grew by 6.7% year-over-year, now representing 37.6% of total sales [12] - Travel sales experienced a slight decrease of 2.2% compared to the previous year, but showed sequential improvement from a decline of 5.3% [13] Market Data and Key Metrics Changes - The Asia region showed a strong recovery with 5.1% growth on a constant currency basis in Q4, driven by improvements in China, Korea, India, and Japan [7][8] - North America experienced sequential improvements, although still facing challenges from prior year comparisons [8] - Europe maintained steady growth at 1% for both quarters, with strong D2C performance particularly in Q4 [8] Company Strategy and Development Direction - The company plans to focus on four strategic pillars: amplifying brand awareness, winning in digital, seizing opportunities in lifestyle bags, and enhancing product development [14][15] - Increased marketing spend is planned, targeting 6.5% of net sales in 2026 to support brand awareness and long-term growth [16][40] - The company is preparing for a potential dual listing in the U.S. to enhance shareholder value [28][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth driven by travel demand and strategic execution, despite uncertainties from geopolitical conflicts [38][40] - The company anticipates Q1 2026 net sales to be flat on a constant currency basis due to the impact of the Middle East conflict [38] - Management highlighted the importance of maintaining strong gross margins and effective supplier relationships to navigate cost pressures [30][49] Other Important Information - The company generated strong adjusted free cash flow of $246 million for the year, with a healthy balance sheet showing a net debt position of approximately $1.1 billion [35] - The company received recognition for sustainability efforts, ranking 74th in Time's World's Best Companies in Sustainable Growth for 2025 and 2026 [23][24] Q&A Session Summary Question: Performance by market and resilience trends - Management noted sequential improvement across all business areas, with specific impacts in the Middle East and resilience in Japan, Korea, and China [47][48] Question: Cost pressures from Middle East conflicts - Management acknowledged early signs of cost impacts, particularly in shipping and raw materials, but emphasized their ability to manage margins effectively [49][50] Question: Margin expectations for Q1 and store expansion plans - Margins are expected to remain stable in Q1, with store expansions focused on Asia and Europe, particularly for TUMI [54][56] Question: Revenue trends in North America and wholesale customer sentiment - North America showed improving trends, although wholesale customers remain cautious in their purchasing [60][62] Question: Shareholder return expectations post dual listing - The company plans to maintain a dividend payout ratio of around 45% of adjusted net income and will evaluate share buybacks after the dual listing [63][64]

2025 ANNUAL RESULTS MARCH 19, 2026 Samsonite Group S.A. Stock Code: 1910 DISCLOSURE STATEMENT This Presentation contains forward-looking statements. Forward-looking statements reflect our current views with respect to future events and performance. These statements may discuss, among other things, the Company's net sales, gross margin, operating profit, adjusted net income, adjusted EBITDA, adjusted EBITDA margin, cash flow, adjusted free cash flow, ratio, liquidity and capital resources, potential impairme ...

Financial Data and Key Metrics Changes - The company reported a net sales decline of 1.3% for Q3, an improvement from a 5.2% decline in the first half of the year [38][39] - Gross margin for Q3 was 59.6%, up 30 basis points year-over-year and 60 basis points from the previous quarter [6][45] - Adjusted EBITDA for the quarter was $143 million, with an adjusted EBITDA margin of 16.3% [39][46] - Adjusted net income was reported at $64 million [39] Business Line Data and Key Metrics Changes - Direct-to-consumer (D2C) sales increased by 3.5% period over period, with D2C e-commerce up over 10% [4][5] - Non-travel sales grew almost 7% in Q3, representing a significant opportunity for the company [6][50] - Wholesale channel net sales declined by 4.5%, with traditional brick-and-mortar sales down around 7% [5][40] Market Data and Key Metrics Changes - North America saw a net sales decline of 10%, although TUMI brand improved by 3.3% in Q3 [11][42] - Asia's net sales were roughly flat, with TUMI showing a 7.1% increase in Q3 [40][42] - Europe reported a 1% increase in sales, while Latin America grew by 1.2% [40][44] Company Strategy and Development Direction - The company is focused on capitalizing on growth in travel and expanding its non-travel business, which has shown a 14% CAGR from 2020 to 2025 [10][26] - There is a strong emphasis on product innovation and enhancing brand awareness across all brands [18][19] - The company plans to complete a dual listing in the U.S. by 2026 to enhance shareholder value [61][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in medium and long-term sales growth despite current macroeconomic uncertainties [57] - Positive trends in consumer demand for travel are expected to continue, with strong product launches anticipated for Q4 [57][58] - The company is well-positioned to maintain strong gross margins due to effective tariff mitigation strategies [59][60] Other Important Information - The company has successfully refinanced its corporate debt, extending maturities and improving liquidity [53][54] - The DTC sales mix has increased to 42%, with e-commerce channels growing significantly [49][50] - The company has opened 43 net new stores over the past year, impacting G&A expenses [46] Q&A Session Summary Question: Can you provide insights on the performance of TUMI in North America? - TUMI showed a positive growth of 3.3% in Q3, a significant improvement from a decline of 3.3% in Q2 [42] Question: What are the expectations for the non-travel segment? - The non-travel segment is expected to continue growing, with a reported 6.7% growth in Q3 and representing 35.6% of total sales [50][51] Question: How is the company managing its cost structure amid current challenges? - The company has maintained a disciplined approach to managing its cost structure, with gross margins remaining strong despite tariff impacts [45][46]

Financial Performance - Net sales decreased by 1.3% in Q3 2025, but showed sequential improvement compared to a 5.8% decrease in Q2 2025[14] - DTC net sales increased by 3.5% in Q3 2025, with DTC e-commerce up 10.1%[14] - Q3 2025 gross margin remained strong at 59.6%, a 30 basis point improvement period-over-period[14] - Adjusted EBITDA decreased by US$12 million from Q3 2024[58] - Adjusted net income decreased by US$16 million mainly due to lower adjusted EBITDA and higher depreciation[56] Regional Performance - North America net sales decreased by 4.5% in Q3 2025, but improved sequentially from a decrease of 7.3% in Q2 2025[63] - Asia net sales were approximately flat, down 0.3% in Q3 2025, a significant improvement compared to a 7.6% decrease in Q2 2025[63] - Europe net sales were up 0.9% in Q3 2025 compared to down 0.9% in Q2 2025[66] - Latin America net sales growth improved to +1.2% in Q3 2025 compared to down 2.2% in Q2 2025[66] Brand Performance - Samsonite brand net sales growth sequentially improved to -4.1% in Q3 2025 from -4.9% in Q2 2025[19] - TUMI brand net sales growth sequentially improved to 5.0% in Q3 2025 from -3.0% in Q2 2025[19] - American Tourister brand net sales growth sequentially improved to -3.7% in Q3 2025 from -14.4% in Q2 2025[19]

Group 1 - The peak season for luggage sales has arrived in Yiwu International Trade City due to the back-to-school period, with merchants launching various multifunctional new luggage products to meet student needs [1][3] - Recent statistics indicate that luggage sales in Yiwu International Trade City have increased by over 30% year-on-year, driven by the influx of students preparing for university [3][5] - Daily foot traffic in the luggage area of Yiwu International Trade City has grown by over 40% compared to regular days, prompting merchants to stock up and increase staff to ensure market supply during the back-to-school season [7] Group 2 - Merchants in Yiwu International Trade City are catering to nationwide demand, with significant purchases from regions like Shandong, and selling around 100 units daily, leading to factories operating at full capacity [5] - New luggage designs have been upgraded in both appearance and functionality, with features such as cup holders, customs locks, and moisture-proof bags being particularly popular among students [5]

Financial Data and Key Metrics Changes - The company reported net sales of $1,662 million for the first half, a decrease of 5.2% compared to the previous year, but still up 24.4% compared to pre-pandemic levels in the first half of 2019 [16][18][19] - Gross margin remained robust at 59.2%, slightly down from 60% in the previous year, primarily due to a mix effect and strategic promotional initiatives [11][19] - Adjusted EBITDA margin was 16.2%, reflecting a decrease from 19% in the prior year, influenced by lower gross margin and higher SG&A expenses [49][56] Business Line Data and Key Metrics Changes - The wholesale channel experienced a decline of 7.4% in the first half, while the direct-to-consumer (DTC) channel only declined by 1.6%, indicating stronger resilience in consumer demand through direct channels [6][19] - Non-travel categories showed constant currency growth, with non-travel sales up 180 basis points to 36.2% compared to the prior year [9][26] Market Data and Key Metrics Changes - North America sales were down 7.3%, showing improvement from a 8% decline in Q1, while Asia saw a decline of 7.6% [50][51] - Europe experienced a slight decline of about 1% in Q2, with specific markets like France and the UK showing weakness [54] Company Strategy and Development Direction - The company is focusing on profitable growth and brand positioning, avoiding competition with low-priced unbranded products to protect profitability [8] - Strategic investments in the DTC channel are yielding positive results, with DTC now accounting for 40% of net sales, up from 38% last year [9][23] - The company is committed to product innovation and expanding its market presence, particularly in underpenetrated categories and regions [12][34] Management's Comments on Operating Environment and Future Outlook - Management noted that while travel demand remains strong, there is a softening in consumer sentiment due to macroeconomic uncertainties and trade policy shifts [6][70] - The company anticipates sequential improvement in net sales for the back half of the year, although consumer sentiment remains difficult to predict [70][72] Other Important Information - The company has added 57 net new stores since June 2024, with distribution and G&A expenses up less than 1% compared to the prior year [10][60] - The company is preparing for a dual listing of its securities in the United States, monitoring market conditions closely [73] Q&A Session Summary Question: Updates on full year guidance and strategy for American Tourister - Management sees sequential improvement in the back half of the year but refrains from providing specific Q4 guidance due to uncertainty [79] - For American Tourister, the strategy involves disciplined management and leveraging collaborations to draw consumers into the brand while navigating competitive pressures [82][84] Question: Details on tariff impacts and inventory management - Management indicated that a combination of price increases, supplier negotiations, and forward inventory purchases will help neutralize tariff impacts on gross margin [91] - Inventory levels have increased intentionally to prepare for future sales, with expectations of working capital returning to historical levels [93]

Financial Data and Key Metrics Changes - The company reported net sales of $1,662 million for the first half, a decrease of 5.2% compared to the previous year, but still up 24.4% compared to pre-pandemic levels in the first half of 2019 [16][18][54] - Gross margin remained robust at 59.2%, slightly down from 60% in the same period last year, primarily due to a mix effect and strategic promotional initiatives [11][54] - Adjusted EBITDA margin was 16.2%, reflecting a decrease from 19% last year, attributed to lower gross margin and higher SG&A expenses [47][54] Business Line Data and Key Metrics Changes - The wholesale channel experienced a decline of 7.4% in the first half, while the direct-to-consumer (DTC) channel only declined by 1.6%, indicating stronger resilience in consumer demand through direct channels [6][19] - Non-travel categories showed constant currency growth, now representing 36.2% of net sales, up 180 basis points from the previous year [10][24] - The American Tourister brand faced a significant decline of 12.7%, while the Samsonite brand was down 4.7%, with Tumi showing a modest decline of 2.5% [25][27] Market Data and Key Metrics Changes - North America sales were down 7.3%, with Asia down 7.6%, while Europe showed a slight decline of about 1% [49][50] - Latin America remained flat in Q1 and down 2.2% in Q2, driven by consumer sentiment issues in Mexico and Brazil [53][54] - The company noted a softening in travel demand in key markets, particularly in North America, influenced by macroeconomic uncertainties [6][70] Company Strategy and Development Direction - The company is focused on profitable growth and brand positioning, consciously avoiding competition with low-priced unbranded products to protect profitability [7][10] - Strategic investments in the DTC channel are yielding positive results, with DTC now accounting for 40% of net sales, up from 38% last year [8][23] - The company is committed to product innovation and expanding its market reach, particularly in underpenetrated categories and regions [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth despite current macroeconomic challenges, indicating that travel demand remains a priority for consumers [70][71] - The company anticipates sequential improvement in net sales for the second half of the year, although consumer sentiment remains uncertain [68][70] - Ongoing investments in new products and brand elevation are seen as critical for maintaining a robust margin profile [70][71] Other Important Information - The company added 57 net new stores since June 2024, while managing distribution and G&A expenses to remain up less than 1% compared to the prior year [10][60] - The company is preparing for a dual listing of its securities in the United States, closely monitoring market conditions for the right timing [71][72] Q&A Session Summary Question: Can you provide updates on full year guidance and strategy for American Tourister? - Management indicated that while there are signs of improvement in the third quarter, full year guidance remains uncertain due to macroeconomic factors. The strategy for American Tourister involves disciplined management and targeted promotions to draw consumers up from lower-end competition [76][80][82] Question: What details can you share regarding tariffs and inventory management? - Management confirmed that efforts are being made to neutralize the impact of tariffs through a combination of price increases and inventory management. The increase in inventory is intentional to prepare for future sales, and free cash flow is expected to improve as inventory levels normalize [87][90][92]

Financial Performance - 1H 2025 net sales were US$1,662 million, a decrease of 5.2% compared to 1H 2024, but still up 24.4% compared to pre-pandemic 1H 2019[29] - Wholesale channel net sales were down 7.4%, while the DTC channel was down only 1.6% in 1H 2025[29] - Gross margin for 1H 2025 was 59.2%, a decrease of 100 basis points from 1H 2024, but still up 320 basis points compared to 1H 2019[29] - Adjusted EBITDA for 1H 2025 was US$269 million, representing an adjusted EBITDA margin of 16.2%, which was 400 basis points higher than 1H 2019[29] - Q2 2025 net sales decreased by 5.8% from Q2 2024[74] Channel and Category Diversification - DTC mix in 1H 2025 was approximately 40% of net sales, an increase from approximately 38% in the same period last year[34] - Non-travel net sales penetration increased by approximately 180 basis points to 36.2% in 1H 2025 compared to the prior year[34] Brand Performance - TUMI grew 18.6% and 6.2% in Latin America and Europe, respectively, but declined 2.5% in Asia and 4.7% in North America[38] - Gregory brand had strong growth of 14.7% in 1H 2025[44] Financial Position - Combined 1H 2025 distribution and G&A expenses of US$644 million were up just 0.8% compared to 1H 2024[93] - Net debt position was US$1,162 million as of June 30, 2025, with a calculated total net leverage ratio of 1.85x[93] - Liquidity of approximately US$1.4 billion as of June 30, 2025, including cash of US$669 million[93]