$SAMSONITE (01910.HK)$ At the opening, the price fell nearly 13%. As of the time of publication, it has fallen by 9.69% to HKD 19.10, with a turnover of 96.8008 million Hong Kong dollars.
On the news front, Samsonite announced its 2024 mid-term results. Sales revenue was USD 17.685 billion, a YoY decrease of 0.4%; equity holders' attributable surplus was approximately USD 1.64 billion, a YoY growth of 7.7%; basic earnings per share were USD 0.113, and no interim dividend will be distributed. The Group's gross margin rose from 58.8% in 2023 first half to 60.2% in the first half of this year, setting a record for the first half. All regions have seen improvements.
Morgan Stanley's report predicts that Samsonite's sales growth will increase by 4% to 5% this year, and revenue growth will increase by 3% calculated using fixed exchange rates. The bank significantly lowered its sales forecast for Asia, while the forecast for Europe and America remained roughly the same. It also expects the company's revenue to grow 5% and 4% in 2025 and 2026, respectively. In addition, the bank maintains its gross margin forecast for Samsonite at 60% for this year, which means there will be more discounts in the second half of the year; the gross margin forecast for 2025 and 2026 is 59.5% and 60%, respectively.