Logitech International S.a. · SIX:LOGN
Logitech International — Investor Day (March 2021)
11 slides from Logitech International's investor day presentation, March 2021
Slide 1: Finance
FINANCE NATE OLMSTEAD MARCH 2021
Slide 2: Forward-Looking Statements & Non-GAAP Measures
FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding: long-term structural trends and growth potential, our major category market growth, and ou
Slide 3: Raising Fiscal Year 2021 Outlook
RAISING FISCAL YEAR 2021 OUTLOOK Prior ~1.05B ~63% Net sales growth (CC) ~$1.1B Non-GAAP Operating income Prior 57-60% Note: Figures are non-GAAP and net sales comparisons are Y/Y. Net sales growth is in constant currency (CC).
Slide 4: Financial Acceleration ...
FINANCIAL ACCELERATION ... It took us 4 years to double profits ... … but it took us < 1 year to do it again FY’16 FY’20 FY’20 YTD FY’21 Net sales $2.0B $3.0B Net sales $3.0B $3.7B Operating Operating $179M $387M $387M $947M income income EPS $0.98 $2.15 EPS $2.15 $4.96 Note: Figures are non-GAAP un
Slide 5: ... and Building Blocks for Sustainable Growth
… AND BUILDING BLOCKS FUTURE GROWTH FOR SUSTAINABLE OPPORTUNITIES GROWTH Investment into business FY’18 - FY’21E CAGR Margin improvements Net sales Adjacent +24% (CC) markets Market Operating income share gains +57% Market growth Note: Figures are non-GAAP. Sales growth is in constant currency (CC).
Slide 6: Catalysts for Growth / Managing Risk
CATALYSTS MANAGING FOR GROWTH RISK ● New Product Introductions (NPIs) ● Diversified product portfolio ● Leveraging B2B investments ● Measured NPI launches ● Marketing-led focus ● Rigorous sales and operations reviews ● Software innovation ● Product lifecycle management ● New adjacent categories
Slide 7: No Change in Capital Allocation
NO CHANGE IN CAPITAL ALLOCATION PAST THREE YEARS $225M $385M $187M Share M&A Dividends buybacks Note: Share buyback data through Jan 29, 2021.
Slide 8: Fiscal Year 2022 Outlook
FISCAL YEAR 2022 OUTLOOK FY 2022 OUTLOOK ADDITIONAL ASSUMPTIONS Sales (CC) growth -5% to +5% Currency FY’21 avg rates Non-GAAP Non-GAAP $750M to $800M 11 - 12% operating income effective tax rate Cash from operations 1x non-GAAP OP Capex $80M to $90M Note: Figures are non-GAAP and net sales growth i
Slide 9: Fiscal Year 2022 Market Growth Expectations
FISCAL YEAR MAJOR CATEGORY (CC) GROWTH 2022 MARKET Creativity & Productivity -10% to flat GROWTH Video Collaboration +10% to +25% Gaming -5% to +5% EXPECTATIONS Music -15% to -5% Note: Net sales comparisons are Y/Y. CC = constant currency.
Slide 10: Navigating Through FY 2022
NAVIGATING THROUGH FY 2022 HEADWINDS TAILWINDS Increase/shift of consumer spending to other categories Sustained shift toward hybrid work and growth in video Slowdown in gaming as other forms of entertainment recover Growth in esports and social gaming Promotional spending increases as industry Impr
Slide 11: Raising Long-Term Model
RAISING LONG-TERM MODEL Prior New Sales (CC) growth High-single digits Sales (CC) growth Up 8 - 10% Gross margin 36 - 40% Gross margin 39 - 44% Operating margin 11 - 14% Operating margin 14 - 17% Note: Figures are non-GAAP and net sales growth is in constant currency (CC).