Samsonite H1 2026: Sales Edge Up 1%, Profit Falls 23% as Group Confirms BÉIS Acquisition and U.S. Dual-Listing Plans

Bulletin Express
4小時前

Samsonite Group S.A. (stock code 01910) reported its unaudited interim results for the six months ended 30 June 2026. Net sales inched up 1.11% to US$1.68 billion, supported by a weaker U.S. dollar and higher direct-to-consumer and lifestyle bag sales. On a constant-currency basis, revenue slipped 0.70%.

Gross profit rose 3.34% to US$1.02 billion, lifting gross margin to 60.50% from 59.20%. The improvement includes a US$16.60 million U.S. tariff refund; stripping this out, underlying gross margin was 59.50%, up 30 basis points year-on-year.

Operating profit fell 13.20% to US$206.90 million, dragged by a 7.66% rise in distribution expenses and a 10.63% jump in marketing spend. Adjusted EBITDA declined 8.47% to US$246.00 million, with margin easing to 14.60% (13.70% excluding tariff refunds) from 16.20%. Profit attributable to equity holders dropped 23.09% to US$90.90 million.

Free cash flow generation strengthened: net cash from operations climbed 70.49% to US$207.50 million, while adjusted free cash flow surged to US$85.00 million from US$11.50 million. Net debt declined to US$1.07 billion (31 December 2025: US$1.10 billion), and total liquidity stood at US$1.51 billion.

Capital allocation remained active. Samsonite repurchased 27.10 million shares for US$50.00 million during the period and paid a US$140.00 million dividend on 15 July 2026. Shareholders have approved the cancellation of 79.30 million treasury shares, effective upon completion of a potential dual listing in the United States.

On 12 August 2026, Samsonite signed a definitive agreement to acquire 85% of fast-growing lifestyle and travel brand BÉIS for US$178.50 million in cash, funded from existing cash and available credit lines. Closing is targeted for Q4 2026, subject to regulatory approvals.

Management expects Q3 2026 constant-currency sales growth to stay broadly in line with Q2 despite continued macro-economic and Middle East conflict headwinds. The Group continues to target marketing spend of roughly 6.5% of sales for 2026 and foresees sequential improvement in adjusted EBITDA margin in the seasonally stronger second half.

The Board affirms confidence in long-term travel demand, ongoing gross-margin resilience, and the execution of strategic pillars encompassing brand elevation, digital expansion, lifestyle bag growth, and globally resonant product innovation.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10