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Samsonite Group (1910) investor relations material
Samsonite Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net sales were $872.7 million, down 1.3% year-over-year, but showed sequential improvement from Q2, with all regions and brands improving and DTC net sales up 3.5%.
Gross margin expanded to 59.6%, up 30 bps year-over-year, driven by favorable mix, DTC growth, and effective tariff mitigation.
Adjusted EBITDA margin was 16.3%, down 130 bps year-over-year due to higher distribution and G&A expenses.
Operating profit for Q3 2025 increased to $139.2 million, aided by a $14.5 million accrual reversal in Belgium.
Non-travel sales rose nearly 7% in Q3, now representing 35.6% of total sales, reflecting a strategic focus on this growth area.
Financial highlights
Q3 2025 net sales: $872.7 million, down 1.3% year-over-year; nine months: $2.53 billion, down 4.2%.
Gross margin: 59.6% in Q3 2025, up 30 bps year-over-year.
Adjusted EBITDA: $142.6 million in Q3 2025, margin 16.3%, down 7.7% year-over-year.
Adjusted net income: $63.6 million in Q3 2025, down 20.2% year-over-year.
Adjusted free cash flow: $64.7 million in Q3 2025.
Outlook and guidance
Expecting sequential improvement in Q4 net sales, supported by strong travel demand, new product launches, and increased advertising.
Gross margin expected to remain strong, with further expansion possible as Asia and TUMI grow.
Ongoing investments in DTC and e-commerce channels to support long-term growth.
Confident in medium- and long-term growth, with plans for a dual US listing in 2026.
Management expects continued macroeconomic uncertainty and cautious wholesale purchasing to impact near-term sales.
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