Summary by Moomoo AI
Samsonite International released its semi-annual financial report on June 30, 2024. While net sales decreased slightly by 0.4%, they increased by 2.8% based on unchanged exchange rates. The gross margin reached 60.2%, setting a record for the first half of the year. Operating profit slightly increased to USD 314.7 million, while profit for the period was USD 179.1 million, a 4.5% increase from the same period last year. The profit attributable to shareholders was USD 164.3 million, a 7.7% increase. Adjusted EBITDA was USD 333.5 million, a slight decrease of 0.3%, while the adjusted EBITDA margin reached a new high of 18.9%. Adjusted net income increased to USD 174.0 million. The company conducted refinancing with a B term loan during the reporting period and recommended distributing USD 150.0 million in cash dividends to shareholders, approximately USD 0.1026 per share. As of June 30, 2024, the company had USD 815.5 million in cash and cash equivalents, and total current assets of USD 1,559.6 million.