SAMSONITE (01910) announces annual performance: shareholders' net profit decreased by 16.4% to 2.89 billion US dollars compared to the previous year.

SAMSONITE (01910) announced its performance for the year ending December 31, 2025. The Group achieved a net sales revenue of 3.498 billion US dollars, a decrease of 2.5% year-on-year; the attributable profit to equity holders was 289 million US dollars, a decrease of 16.4% year-on-year; and basic earnings per share was 0.208 US dollars. The decrease in net sales revenue was mainly due to the cautiousness of traditional physical wholesale customers in the uncertain macroeconomic environment and weak consumer sentiment. This was offset by the growth in net sales revenue from DTC channels (especially DTC e-commerce) and sales to online retail partners. The gross profit margin for the year ending December 31, 2025 was 59.6%, a decrease of 40 basis points from the year ending December 31, 2024. The Group continued to shift its sales revenue mix towards regions with higher gross margins, its DTC channels, and the TUMI brand. This favorable sales revenue mix offset the gross margin pressure caused by US tariffs and strategic promotional activities to drive net sales revenue in a weak demand environment. The strong gross margin of the Group was also supported by the mitigation measures of US tariffs implemented with the excellent procurement team, scale advantage, and close cooperation with long-term suppliers. Looking back at 2025, it was a mix of good and bad. In the first half of the year, global macroeconomic and geopolitical instability, especially related to US tariffs, significantly intensified, leading to weak consumer sentiment, slower retail traffic, and more cautious purchases from wholesale customers, affecting the Group's net sales revenue. The Group took swift and decisive measures to mitigate the impact of this crisis, while continuing to invest strategically in long-term growth. With the support of successful launch of new innovative products and impactful marketing activities in the second half of 2025, the trend of net sales revenue noticeably improved, highlighting the resilient business model of the Group and the solid execution capability of the global team, laying a foundation for 2026's net sales revenue growth at constant exchange rates. Furthermore, the Group continued to focus on driving strategic priorities for long-term growth. The Group continued to invest in strengthening its DTC business, making strategic upgrades to its global retail network, and investing in software to enhance its e-commerce platform and customer engagement capabilities. DTC channel net sales revenue accounted for 41.7% of the Group's sales revenue in 2025, compared to 39.8% in 2024. In addition, the Group continued to expand its non-travel product categories through new innovative product offerings. Therefore, the sales revenue from non-travel product categories accounted for 36.4% of the Group's sales revenue in 2025, compared to 34.3% in 2024.