Samsonite (01910) management expects the global tourism industry to maintain healthy growth in 2024, and the Asian region is expected to continue to grow, especially outbound travel from China.
The Zhitong Finance App learned that Jefferies released a research report saying that Samsonite (01910)'s adjusted EBITDA/sales for the fourth quarter of 2023 were in line with the bank's and market expectations, while profits were higher than expected. The bank believes that the highlights of the Group's management meetings include year-to-date transaction updates, whether to maintain sales guidelines for the full year of 2024, and the Group's comments on privatization news. The bank gave a target price of HK$33.7, with a “buy” rating.
According to the report, Samsonite's net profit for the fourth quarter of 2023 was US$149 million, far higher than the bank's expectations of US$88 million and the market's US$99 million, mainly due to losses of US$84 million. Management expects the global tourism industry to maintain healthy growth in 2024, and the Asian region is expected to continue to grow, especially outbound travel from China, and the outlook for Europe is relatively strong.