Samsonite Group S.a. · HKEX:1910
Samsonite — Q3 2025 Earnings Presentation
40 slides from Samsonite's earnings presentation, Nov 12, 2025
Slide 1: Q3 2025 Results
Q3 2025 RESULTS NOVEMBER 12, 2025 Samsonite Group S.A. Stock Code: 1910
Slide 2: Disclosure Statement
DISCLOSURE STATEMENT This presentation and the accompanying slides (the “Presentation”), which have been prepared by Samsonite Group S.A. (“Samsonite” or the “Company”), do not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for, or be rel
Slide 3: Agenda
AGENDA 01 BUSINESS UPDATE 02 FINANCIAL HIGHLIGHTS 03 OUTLOOK 04 Q&A All net sales growth rates throughout the presentation are presented on a constant currency basis, unless stated otherwise. 3
Slide 4: Business Update
BUSINESS UPDATE 4
Slide 5: Strong Momentum Supported by Innovative Products with all Regions and Core Brands Delivering Sequential Improvement
Strong Momentum Supported by Innovative Products with all Regions and Core Brands Delivering Sequential Improvement • Clear Sales Momentum in Q3 2025: Net sales decreased 1.3%(1) period-over-period in Q3 2025, a sequential improvement relative to a net sales decrease of 5.8%(1) period-over-period in
Slide 6: Net Sales Growth Improved Sequentially Across our Core Brands
Net Sales Growth Improved Sequentially Across our Core Brands Period-over-Period Constant Currency Net Sales Growth • Samsonite brand year-over-year net sales growth • TUMI brand year-over-year net sales growth sequentially • American Tourister brand year-over-year net sales sequentially improved to
Slide 7: Favorable net sales drivers position us for growth over the medium-term
Favorable net sales drivers position us for growth over the medium-term Period-over-Period Constant Currency Growth in Samsonite Group Net Sales(1) Revenge Travel Drivers for medium-term constant currency net sales growth: • Global air traffic is projected to grow ~4%(2), underpinned by resilient co
Slide 8: Focused on Profitable Long-Term Growth
Focused on Profitable Long-Term Growth • We remain focused on profitable long-term growth and are strategically investing in our business. • We believe these investments will strengthen our competitive advantages in market leadership, platform capabilities, and scale by enabling us to: • Continue to
Slide 9: Our Highly Attractive and Fragmented Global Bags & Luggage Industry
Our Highly Attractive and Fragmented Global Bags & Luggage Industry 2010 - 24 2024 – 29 % CAGR Global Bags (1)(2) CAGR Market Share +2% +5% ~$84Bn 2029 2010 - 24 2024 – 29 CAGR Global Luggage (1) CAGR +3% +6% ~$29Bn ~$65Bn 2029 2024 Samsonite Group’s global ~$22Bn 2010-2024 net sales 2024 Compound A
Slide 10: Net sales growth historically correlated to growth in travel, and outlook for travel remains strong
Our net sales growth has historically been strongly correlated to growth in travel, and outlook for travel remains strong Global RPK’s (Revenue Passenger Kilometers) vs. Samsonite Samsonite Group Net Sales vs. Global Air Passenger Traffic (measured in RPK’s) Group Net Sales – LTM Q3 2025 vs. LTM Q3
Slide 11: Non-travel category has grown at ~14% CAGR from '20 - '25
Non-travel category has grown at ~14% CAGR from ’20 - ‘25 with continued focus on growth via engagement of our core customers and expanding customer base YTD September non-travel Net Sales evolution • Expanding presence in non-travel category: Concurrently, our focused efforts in the non-travel prod
Slide 12: Innovative and stylish collections have fueled the success in the non-travel category
Innovative and stylish collections have fueled the success in the non-travel category American Tourister Samsonite Ecodiver Take2cabin Underseater Backpack Samsonite Better Than Basic Gregory Kiro Samsonite Paralux TUMI Celina Backpack Weekender backpack 2-1 Travel Backpack 12
Slide 13: Samsonite brand ranked #1 best luggage brand in the world by 2025 Business Traveller Awards
Samsonite brand ranked #1 best luggage brand in the world by 2025 Business Traveller Awards (followed by TUMI at #3) • Our Samsonite brand was named "Best Luggage Brand in the World" at the prestigious Business Traveller Awards 2025, a significant validation of our brand leadership. • The award, whi
Slide 14: Global launch of Samsonite's award winning Paralux collection in Q3 2025
Global launch of Samsonite’s award winning Paralux collection in Q3 2025 • Successfully launched the Paralux collection globally in Q3 2025, supported by a cohesive, high-impact media campaign across all operating regions. • The collection features a range of hardside luggage and travel bags enginee
Slide 15: Elevating TUMI: A Product-Centric & Communication Strategy
Elevating TUMI: A Product-Centric & Communication Strategy • Leverage the TUMI Difference: Build upon our established heritage of exceptional quality and high performance to solidify our position as the leading international lifestyle and accessories brand. • Continued to elevate the TUMI brand towa
Slide 16: Continued to open brand elevating TUMI flagship locations across the world
Continued to open brand elevating TUMI flagship locations across the world South Coast Plaza in California, USA Chengdu IFS in Chengdu, China Shanghai Center in Shanghai, China Beijing China World in Beijing, China 16
Slide 17: Financial Highlights
FINANCIAL HIGHLIGHTS 17
Slide 18: Q3 2025 Results Highlights
Q3 2025 Results Highlights (2) (2) Improved vs. the -5.2%(1) net sales decline in 1H 2025 • Net sales decreased by • Gross margin for Q3 2025 • Adjusted EBITDA(2) decreased by US$12 • Adjusted net income(2) 1.3%(1) from Q3 2024 in line was strong at 59.6% and million from Q3 2024 due to slightly low
Slide 19: Q3 2025 Regional Net Sales Performance
Q3 2025 Regional Net Sales Performance Net sales growth sequentially improved in every region since Q2, reflecting a strengthening global trend and highlighted by significant acceleration in the Asian market. Net Sales Performance by Region Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Constant Currency Growt
Slide 20: Q3 2025 Regional Net Sales Highlights
Q3 2025 Regional Net Sales Highlights • Net sales in North America decreased by 4.5%(1) in Q3 2025 but improved sequentially from a decrease of 7.3%(1) in Q2 2025. That said, North America continued to be impacted by soft consumer sentiment, lower inbound international tourism, and cautious purchasi
Slide 21: Q3 2025 Regional Net Sales Highlights (cont'd)
Q3 2025 Regional Net Sales Highlights (cont’d) • Net sales in Europe were up 0.9%(1) in Q3 2025 compared to down 0.9%(1) in Q2 2025 driven by improved sequential net sales performance in all three of our core brands. • Both Samsonite and TUMI delivered positive net sales growth of 1.3%(1) and 6.3%(1
Slide 22: Gross Margin Stability Driven by Diversified, Scaled Sourcing Platform
Gross Margin Stability Driven by Diversified, Scaled Sourcing Platform • Q3 2025 gross margin remained strong at 59.6%, 30 basis points higher than Q3 2024 gross margin of 59.3%, due to a positive mix effect from higher contributions to total net sales from the TUMI brand and the DTC channel, suppor
Slide 23: Other Financial Highlights
Other Financial Highlights • Combined Q3 2025 distribution and G&A expenses of US$339 million were up 5.1% compared to Q3 2024 including the impact of 43 net new company-operated stores opened in the past 12 months, as well as inflationary increases in expenses. • Advertising spend of US$53 million
Slide 24: Our DTC net sales grew due to DTC e-commerce sales and new stores
Our DTC net sales grew due to DTC e-commerce sales and new stores, leading to significant increase in DTC channel penetration Comparison of net sales by channel - Total DTC net sales increased 3.5%(1) period-over- Q3 2024 period. Q3 2025 - DTC e-commerce increased 10.1%(1). US$877.7 million - Retail
Slide 25: Strong growth in non-travel products and travel net sales growth improved sequentially from Q2 2025
Strong growth in non-travel products and travel net sales growth improved sequentially from Q2 2025 Comparison of travel vs. non-travel net sales Q3 2024 - Travel declined 5.3%(1) in Q3 2025 compared to Q3 2025 Q3 2024 but sequentially improved from US$877.7 million -9.6%(1) in Q2 2025. US$872.6 mil
Slide 26: YTD September 2025 Results Highlights
YTD September 2025 Results Highlights (2) (2) • Net sales decreased by 3.9%(1) • Gross margin for YTD Sep 2025 was • Adjusted EBITDA(2) decreased by • Adjusted net income(2) compared to YTD Sep 2024 with 59.3%, compared to 59.9% for YTD US$77 million from YTD Sep 2024 decreased by US$67 sequential i
Slide 27: Balance Sheet
Balance Sheet US$m September 30, September 30, $ Chg Sep-25 % Chg Sep-25 2024 2025 vs. Sep-24 vs. Sep-24 • Our balance sheet remained very healthy, and we believe we remain Cash and cash equivalents 682.3 496.7 (185.6) -27.2% Trade and other receivables, net 325.0 356.0 31.0 9.5% well positioned to
Slide 28: Key Refinancing Highlights
Key Refinancing Highlights • Successfully executed a comprehensive As of refinancing of our senior notes and senior credit Pro Forma Capitalization September (US$m) 30, 2025 Pro Forma Margin / Coupon (1) Maturity facilities, optimizing our corporate debt structure. • Significantly extended debt matu
Slide 29: YTD Sep 2025 Capex investments focused on retail store remodels, new stores, and strategic initiatives
YTD Sep 2025 Capex investments focused on retail store remodels, new stores, and investment in strategic initiatives Capital Expenditures by project type US$m YTD Sep 2024 YTD Sep 2025 Retail 29.5 33.8 • Retail capex of US$33.8 million in Manufacturing / Supply 23.1 12.0 YTD Sep 2025 consisted prima
Slide 30: Outlook
OUTLOOK 30
Slide 31: Outlook
Outlook • We remain confident in longer-term tailwinds supporting the business. Although the current macroeconomic environment is uncertain with inflationary pressures that could further weigh on consumer demand, particularly in the U.S., we expect to drive both medium and long-term net sales growth
Slide 32: Q&A
Q&A 32
Slide 33: Thank You
THANK YOU. 33
Slide 34: Appendix
APPENDIX 34
Slide 35: Non-IFRS Financial Measures
Non-IFRS Financial Measures In addition to our results determined in accordance with IFRS Accounting Standards, management reviews certain non-IFRS financial measures, including constant currency net sales growth, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic and dilut
Slide 36: Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation Adjusted EBITDA, a non-IFRS financial measure, eliminates the effect of a number of costs, charges and credits and certain other non-cash charges. Adjusted EBITDA is defined as profit for the period, adjusted to eliminate income tax expense,
Slide 37: Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation For the Nine Months Ended September 30, 2025 The following table reconciles adjusted EBITDA and adjusted EBITDA margin to our profit for the period and profit margin, the most directly comparable financial measures stated in accordance with I
Slide 38: Adjusted Net Income and Adjusted EPS Reconciliation
Adjusted Net Income and Adjusted EPS Reconciliation Adjusted net income, a non-IFRS financial measure, eliminates the effect of a number of costs, charges and credits and certain other non-cash charges, along with their respective tax effects, that impact our reported profit attributable to equity h
Slide 39: Adjusted Net Income and Adjusted EPS Reconciliation
Adjusted Net Income and Adjusted EPS Reconciliation For the Nine Months Ended September 30, 2025 The following table reconciles our adjusted net income and adjusted basic and diluted earnings per share to profit for the period and basic and diluted earnings per share, the most directly comparable fi
Slide 40: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation We define adjusted free cash flow, a non-IFRS financial measure, as cash generated from operating activities, less (i) purchases of property, plant and equipment and software and (ii) principal payments on lease liabilities. We believe adjusted free cash flow p