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Result Announcements

15/05/2020 12:15

Samsonite International (01910) 1Q turns red at US$787m

[ET Net News Agency, 15 May 2020] Samsonite International S.A. (01910) said its loss
attributable to the equity holders was US$787.3 million for three months ended 31 March
2020, compared to the profit of US$22.8 million in the same period of the previous year.
Basic loss per share was US$0.55, versus earnings of US$0.016 a year earlier.
It said net sales dropped 27.7% to US$601.2 million, compared to US$832 million last
year. Operating loss rose to US$842 million from a profit of US$56 million last year.
Samsonite noted that the huge loss includes US$819.7 million of impairment charges,
comprised of US$732.0 million related to goodwill and tradename intangible assets and
USUS$87.7 million related to lease right-of-use assets and property, plant and equipment
at certain retail locations, as well as restructuring charges of US$6.7 million. (KL)

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