Samsonite Group S A (SMSOF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, good afternoon, and good evening, ladies and gentlemen. Welcome to the Samsonite Group 2025 Interim Results Conference Call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please note that this event is being recorded. And I'd like to hand the conference over to Mr. William Yue, Vice President of Investor Relations. Thank you. Please go ahead, sir. Thank you, Operator. Thank you, everyone, for taking the time to join the call. Today, we have our CEO, Mr. Carl Gendro, and our CFO, Mr. Reza Taleghani, with us. And Mr. Gendro will begin with a few opening remarks. Thank you very much. Okay. Thanks, William. Thanks, everybody, for joining. I'm starting on slide five. I'm assuming that is up and running. And I'm going to start with an overview of first half performance and, importantly, the market dynamics that we're seeing. When I think about where we are today, we're significantly benefited from unprecedented revenge travel from 2021 to 2023, a period where the recovery of our business significantly outpaced the market. From 2021 to 24, our reported net sales category grew six times faster than the bag and luggage industry, as we were really set up to capitalize on that return of travelers in that time period. Our recent sales trends, particularly in the back half of 24 and first half 25, reflect a normalization from this record-setting 23 result, which has caused us to trail travel and pass-through to miles just a bit in the short term. That said, our Q2 n...