Capital Returns And Balance Sheet StrengthA larger dividend, a new share buyback and share cancellations combined with strong free cash flow and an effectively debt-free balance sheet strengthen shareholder returns and boost per-share metrics.
End-market DiversificationRevenue diversification into automotive, packaging and industrial segments offsets softness in leather and footwear, reducing dependence on cyclical luxury demand.
Operating Leverage And Margin ImprovementMargin expansion driven by operating leverage from higher volumes and a leaner cost base improves profitability and supports earnings sustainability.