Logitech International S.a. · SIX:LOGN
Logitech International — Investor Day (March 2023)
115 slides from Logitech International's investor day presentation, Mar 8, 2023
Slide 1: Logitech Analyst and Investor Day
LOGITECH ANALYST AND INVESTOR DAY MARCH 8, 2023
Slide 2: Agenda
AGENDA STRATEGY & OUTLOOK Bracken Darrell GAMERS & CREATORS Ujesh Desai BUSINESS-TO-BUSINESS Scott Wharton PERSONAL WORKSPACE SOLUTIONS Delphine Donné OPERATIONS & SUSTAINABILITY Prakash Arunkundrum FINANCE Chuck Boynton Q&A
Slide 3: Forward-Looking Statements / Non-GAAP Measures
FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding: our growth strategy and capabilities; long-term growth trends and opportunities in Gaming and Creators, Video
Slide 4: Strategy & Outlook
STRATEGY & OUTLOOK Building Capabilities and Repositioning for Growth Bracken Darrell President and CEO March 2023
Slide 5: Growing Core Capabilities
GROWING CORE CAPABILITIES CAPABILITIES Design and Operational Global Financial Marketing Sustainability Innovation Excellence Go-To-Market Discipline People & Culture CATEGORIES PERSONAL WORKSPACE ROOM COLLABORATION GAMING & CREATORS SOLUTIONS
Slide 6: Disappointing Year, Realigned Cost Structure
DISAPPOINTING YEAR, REALIGNED COST STRUCTURE FY16-FY23 NET SALES BY CATEGORY $6,000 ● Revenues down from peaks, still 50% higher than FY’20 Net Sales (in $M) $4,000 ● Quickly aligned operating expense with revenues $2,000 ● Investment in R&D up over 50% since FY’20 ● Categories significantly larger
Slide 7: Categories Remain Attractive
CATEGORIES REMAIN ATTRACTIVE Gaming & Creators Room Collaboration 3B+ active gamers, ~100M conference rooms, growing at over 4% worldwide only 10% penetration Creators build audiences in the millions Personal Workspace Solutions ~1B knowledge workers, billions of product sales and upgrade opportunit
Slide 8: Market Share Leader
MARKET SHARE LEADER #1 MARKET SHARE IN ATTRACTIVE CATEGORIES1 Pointing Devices Keyboards and Combos Logitech 53% Logitech 49% Gaming Video Conference Logitech 30% Logitech 28% 1 NPD/GFK worldwide market share data as of December, 2022 for Pointing Devices, Keyboards and Combos and Gaming. Video Conf
Slide 9: Our Goal
OUR GOAL Create outstanding, seamless experiences for people to work, play and create from anywhere.
Slide 10: Transforming Ourselves
TRANSFORMING OURSELVES Combined Commercial Integrated Hardware Organizations and Software Engineering Reorganized Across Restructured to the Our Categories Appropriate Opex Level
Slide 11: Scaled B2B Capabilities
SCALED B2B CAPABILITIES PERSONAL WORKSPACES MEETING ROOMS SERVICES AND CUSTOMER SUPPORT CHANNELS CUSTOMERS
Slide 12: Software Enabling Customer Experience
SOFTWARE ENABLING CUSTOMER EXPERIENCE HARDWARE HARDWARE INTEGRATED SOFTWARE INTEGRATED SOFTWARE ENTERPRISE CONSUMER
Slide 13: Mission
MISSION To help ALL people pursue their passions…in a way that is good for the planet.
Slide 14: Gamers & Creators
GAMERS & CREATORS Ujesh Desai GM Gamers and Creators March 2023
Slide 15: 3.2B Worldwide Gamers
3.2B WORLDWIDE GAMERS 2022 Global Players Per Region with Year-on-Year Growth Rates Middle East & Africa 15% 488M +8.2% YoY Asia-Pacific 1,746M +4.2% YoY 2022 Total 13% Europe 430M +3.4% YoY 55% 3,198M +4.6% YoY Latin America 10% 315M +4.8% YoY 7% North America 219M +2.6% YoY Source: Newzoo Global G
Slide 16: Yip
Yip
Slide 17: A Digital Community Across the Globe
A DIGITAL COMMUNITY ACROSS THE GLOBE
Slide 18: Playing Across More Devices
PLAYING ACROSS MORE DEVICES El. cal Fr
Slide 19: Wide Variety of Games
WIDE VARIETY OF GAMES Monument Valley published by UsTwo Games God of War Ragnarök developed by Santa Monica Studio and published by Sony Interactive Entertainment Not affiliated with Logitech Not affiliated with Logitech
Slide 20: Gamers & Creators Are the Next Superstars
GAMERS & CREATORS ARE THE NEXT SUPERSTARS
Slide 21: Devin Booker Professional Basketball Player
Not affiliated with Logitech Not affiliated with Logitech Devin Booker Not affiliated with Logitech Professional Basketball Player
Slide 22: Different Types of Personalities & Spaces
DIFFERENT TYPES OF PERSONALITIES & SPACES
Slide 23: Serving the Needs of Gamers & Creators
SERVING THE NEEDS OF GAMERS & CREATORS
Slide 24: Different Types of Gaming Motivations
DIFFERENT TYPES OF GAMING MOTIVATIONS
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Slide 26: PRO Wheel testimonial, Lando Norris
“ The PRO Wheel makes the sim racing experience incredibly realistic. I'm able to feel the conditions of the track and how the car changes during the race, which is ” game changing. When I use this wheel at home, I feel like I'm right there on the track. LANDO NORRIS - MCLAREN F1 TEAM
Slide 27: BOD Meeting, September 2021 LOGITECH CONFIDENTIAL: NOT FOR DISTRIBUTION
BOD Meeting, September 2021 LOGITECH CONFIDENTIAL: NOT FOR DISTRIBUTION 27
Slide 28: Riot Games League of Legends Worlds 2022
Riot Games League of Legends Worlds 2022.
Slide 29: PRO X Superlight
jee ee ZERO % OPPOSITION OUR LIGHTEST, FASTEST PRO MOUSE EVER PLAY TO WIN Y | PRO X SUPERLIGHT > 6hCUC/' Ly |
Slide 30: Wireless Leadership
WIRELESS LEADERSHIP $2,000M Logitech G Wireless Gaming Market $1,500M 37% $1,000M 33% $500M $0 2019 2022 Source: Market data from Jan 2019 to November 2022 - PC Gaming Wireless Keyboards, Mice, Headsets, Console Headsets NPD market data is for data within US and Canada. GFK is for data outside of US
Slide 31: 45% of Gamers Are Women
45% OF GAMERS ARE WOMEN Global Gamer Gender Split Female Male 45% Non-binary/Other 54% Source: Newzoo Consumer Insights – Games & Esports, May 2022
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Slide 34: Cloud Game Streaming Will Further Expand Our TAM
CLOUD GAME STREAMING WILL FURTHER EXPAND OUR TAM
Slide 35: Creator audiences and followers
shroud xchocobars Khleo Thomas Twitch: 10.4M followers Twitch: 963K followers Twitch: 36.5K followers YouTube: 6.79M followers YouTube: 251K followers YouTube: 75.5K followers TikTok: 523k followers TikTok: 140k followers TikTok: 1.2M followers Instagram: 1.48M followers Instagram: 520k followers In
Slide 36: Emergence of Creators as Businesses of One
EMERGENCE OF CREATORS AS BUSINESSES OF ONE 6 1 Create Manage Content Your Business 5 2 Monetize Grow Your Offline Audience 4 3 Monetize Own Your Online Audience
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Slide 38: Total Gear Control
TOTAL GEAR CONTROL G
Slide 39: Herman Miller and Logitech G partnership
In July 2020, Herman Miller and Logitech G partnered to launch the world’s first health-positive and high performance gaming chair, the Embody Gaming Chair.
Slide 40: Slide 40
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Slide 42: Serving the Needs of Gamers & Creators
SERVING THE NEEDS OF GAMERS & CREATORS
Slide 43: Business-to-Business
BUSINESS-TO-BUSINESS Scott Wharton GM B2B March 2023
Slide 44: Market Update, Our Progress, Positioned to Win
MARKET OUR POSITIONED UPDATE PROGRESS TO WIN
Slide 45: Market Update
| MARKET UPDATE
Slide 46: Market Update
MARKET UPDATE Hiring Outside Supporting Employees Video is Standard Office Location Area Anywhere Shared Desks & Uncertainty Creates Expanded IT Role Real Estate Optimization the Need for Data
Slide 47: The Path to Hybrid Is Unclear
THE PATH TO HYBRID IS UNCLEAR 2-3 RTO Scheduling Days/Week Mandates Complexity
Slide 48: Total Addressable Market Shows Sizable Opportunity
TOTAL ADDRESSABLE MARKET SHOWS SIZABLE OPPORTUNITY ~100M Meeting Rooms and Classrooms ~10% are video enabled Source: Frost & Sullivan, State of the Global Video Conferencing Devices Market—Forecast to 2027, October 2022
Slide 49: Our Progress
ip new of R PROGRESS rer 4 = ge ~ logitech =
Slide 50: Logitech Is the #1 Player in Conference Camera Market
LOGITECH IS THE #1 PLAYER IN CONFERENCE CAMERA MARKET LOGITECH MARKET SHARE REVENUE 40% 31% 29% 30% 25% 20% 15% 11% 10% 7% 0% 2017 2018 2019 2020 2021 2022 (PRELIM) Source: Synergy Research Group - UC Market Tracker - Traditional & USB Video, February 2023 (excludes webcams); years by calendar year
Slide 51: Market Share Volatility Based on Competitor Supply Issues
MARKET SHARE VOLATILITY BASED ON COMPETITOR SUPPLY ISSUES $200M $150M Revenue $100M $50M 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 (PRELIM) Source: Synergy Research Group - UC Market Tracker - Traditional & USB Video, February 2023 (excludes webcams); years by calendar year
Slide 52: Revenue per Room: Our Strategy Is Working
REVENUE PER ROOM: OUR STRATEGY IS WORKING Conference Cameras Accessories Revenue per Room FY19 FY20 FY21 FY22 FY23 Q1-Q3
Slide 53: Innovative, New and Refreshed Solutions
INNOVATIVE, NEW AND REFRESHED SOLUTIONS BRIO 305 BRIO LOGITECH SIGHT LOGI DOCK 505 ZONE TRUE WIRELESS ZONE VIBE WIRELESS
Slide 54: Positioned to Win
POSITIONED TO WIN
Slide 55: Shift from Products to Systems
SHIFT FROM PRODUCTS TO SYSTEMS
Slide 56: Meeting Equity
MEETING EQUITY logitech’
Slide 57: Meeting Equity
MEETING EQUITY
Slide 58: Meeting Equity
MEETING EQUITY logitech
Slide 59: Meeting Equity
MEETING EQUITY
Slide 60: Meeting Equity
MEETING EQUITY logitech’
Slide 61: Delivered Speaker Tracking and Grid View to Focus on People
DELIVERED SPEAKER TRACKING AND GRID VIEW TO FOCUS ON PEOPLE INTELLIGENT FRAMING AND FOCUSING
Slide 62: This Is What the Experience Should Be
THIS IS WHAT THE EXPERIENCE SHOULD BE
Slide 63: This Is What the Experience Should Be
THIS IS WHAT THE EXPERIENCE SHOULD BE
Slide 64: And We're Enabling It with Sight
AND WE’RE ENABLING IT WITH SIGHT
Slide 65: Extend Enterprise Leadership
EXTEND ENTERPRISE LEADERSHIP
Slide 66: Leader with Key Cloud Video Players
LEADER WITH KEY CLOUD VIDEO PLAYERS
Slide 67: Strong, Ongoing Innovation
STRONG, ONGOING INNOVATION BRIO 305 BRIO LOGITECH SIGHT LOGI DOCK 505 ZONE TRUE WIRELESS ZONE VIBE WIRELESS
Slide 68: The Future Is Bright
THE FUTURE IS BRIGHT World Moving Move to Systems Equitable to Hybrid is Working Meetings Transition to Gaining Market Video Share Everywhere!
Slide 69: Personal Workspace Solutions
PERSONAL WORKSPACE SOLUTIONS Delphine Donné GM Personal Workspaces March 2023
Slide 70: Growth Trends, Our Opportunity, Proven Recipe to Scale
PROVEN GROWTH OUR RECIPE TO TRENDS OPPORTUNITY SCALE PERSONAL WORKSPACE SOLUTIONS
Slide 71: Personal workspace ecosystems for everyone
We create magical personal workspace ecosystems for everyone to WORK, CREATE, AND LEARN anywhere. PERSONAL WORKSPACE SOLUTIONS
Slide 72: Big, Long-Term Growth Trends
BIG, LONG-TERM GROWTH TRENDS NEW, HYBRID REALITY DEMOCRATIZATION OF CONTENT CREATION 1B 23% Knowledge People Are Workers Creators Sources: Gartner, “1 billion knowledge workers” blog, 2019 post PERSONAL WORKSPACE SOLUTIONS 2022 Adobe press release on “Future of Creativity” study
Slide 73: The Huge Hybrid Opportunity
THE HUGE HYBRID OPPORTUNITY of hybrid-capable of people 74% organizations setting 50% still do not up for hybrid work use a mouse Sources: Frost & Sullivan, State of the Global Video Conferencing Devices Market—Forecast to 2027, October 2022, PERSONAL WORKSPACE SOLUTIONS US Ipsos Usage & Purchase Tr
Slide 74: The Huge Hybrid Opportunity
THE HUGE HYBRID OPPORTUNITY ~2B PC & Monitor Installed Base Current Penetration Rates ~50% Mouse ~25% Keyboard ~10% Webcam Sources: IDC PC & Monitor installed base data, Dec 2022 PERSONAL WORKSPACE SOLUTIONS US Ipsos Usage & Purchase Tracker 2022
Slide 75: The Hybrid Opportunity Is Growing
THE HYBRID OPPORTUNITY IS GROWING New Categories More Devices New Experiences Higher Value More Workspaces More People Opportunity Cycle to Increase Continues New Office, Penetration, +150M Home & On-the-go Refresh, X-Sell, Upsell by FY25 Setups Advanced Users & Content Creators PERSONAL WORKSPACE S
Slide 76: It's Complex… and We Love That
IT’S COMPLEX… AND WE LOVE THAT PERSONAL WORKSPACE SOLUTIONS
Slide 77: How to Take Advantage of the Opportunity?
HOW TO TAKE ADVANTAGE OF THE OPPORTUNITY? PERSONAL WORKSPACE SOLUTIONS
Slide 78: The Key Is Our Multi-Audience Approach
THE KEY IS OUR MULTI-AUDIENCE APPROACH ONE SIZE DOES NOT FIT ALL ADVANCED MAINSTREAM USERS DIGITAL LIFESTYLE WELLBEING MOBILE SOLUTIONS PERSONAL WORKSPACE SOLUTIONS
Slide 79: Innovation Leadership Catalysts
INNOVATION LEADERSHIP CATALYSTS ENVIRONMENT DIVERSITY & INCLUSION SOFTWARE WIRELESS CONNECTIVITY PWS Mice Women 38M (P2Y) Logi BOLT 75% & Keyboards 40% Buyers FIPS Compliant with PCR +26% YOY PERSONAL WORKSPACE SOLUTIONS Sources: Logitech internal sales and software
Slide 80: It's a Recipe for Growth
IT’S A RECIPE FOR GROWTH +12pts 80% +4pts Flat GROW MARKET SHARE 60% ● Leadership across PWS ● 5-star innovation & diverse 40% portfolio ● Targeted, emotional marketing +4pts ● Global GTM excellence 20% 49% 53% 49% 49% 49% 49% 60% 60% 72% 72% 9% 9% 13%13% 0% Pointing Devices Keyboards & Combos Webca
Slide 81: It's a Recipe for Growth
IT’S A RECIPE FOR GROWTH GROW MARKET SHARE GROW THE MARKET GROW & CREATE NEW MARKETS ● Leadership across PWS ● Bring more people into the ● 5-star innovation & diverse categories ● Identify new audiences portfolio ● Increase attach to PCs & Desks ● Innovate with new experiences ● Targeted, emotional
Slide 82: A Recipe for Growth: Advanced Users
A RECIPE FOR GROWTH ADVANCED USERS Achievements What’s Next? 1 1 2x user base 2x share 80% software download rate Partnerships: Sources: Logitech internal data + Worldwide market data as of December, 2022 for Pointing Devices, Keyboards and Combos and Gaming. PERSONAL WORKSPACE SOLUTIONS NPD market
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Slide 84: A Recipe for Growth: Digital Wellbeing
A RECIPE FOR GROWTH DIGITAL WELLBEING Achievements What’s Next? Awareness New Audiences: Education Women Left-Handed Mac Users Increase Penetration More Loyal Consumers: 90% will never go back* PERSONAL WORKSPACE SOLUTIONS Source: Logitech proprietary research among USA enterprise IT decision makers
Slide 85: A Recipe for Growth: Lifestyle
A RECIPE FOR GROWTH LIFESTYLE Achievements What’s Next? CN WW Increase Refresh Cycles New Audiences for POP mouse and KB: Increase Attach & Cross-Sell 60% Women 40% Gen Z + PERSONAL WORKSPACE SOLUTIONS Source: Tableau Amazon Q1FY23
Slide 86: Many New Audiences Out There
MANY NEW AUDIENCES OUT THERE PERSONAL WORKSPACE SOLUTIONS
Slide 87: Personal workspace ecosystems for everyone
We create magical personal workspace ecosystems for everyone to WORK, CREATE, AND LEARN anywhere. $20 $1000 PERSONAL WORKSPACE SOLUTIONS
Slide 88: Set for Long-Term Growth
SET FOR LONG-TERM GROWTH 1 2 3 4 5 Hybrid & Bigger Growing Share Growing Bring New Digital Creation in B2B & Leadership Markets Categories PERSONAL WORKSPACE SOLUTIONS
Slide 89: Operations & Sustainability
OPERATIONS & SUSTAINABILITY Prakash Arunkundrum COO March 2023
Slide 90: Our Operations Are Diverse, Global, and Resilient
OUR OPERATIONS ARE DIVERSE, GLOBAL, AND RESILIENT GLOBAL GLOBAL GLOBAL CONSUMERS GLOBAL SUPPLIERS MANUFACTURING DISTRIBUTION & CHANNELS DIVERSE DESIGN & CLIMATE PORTFOLIO QUALITY POSITIVE
Slide 91: Resilient Operational Priorities
RESILIENT OPERATIONAL PRIORITIES INVENTORY DIVERSIFIED COST FOCUS MANUFACTURING LEVERAGE POISED TO DELIVER SUSTAINED COGS IMPROVEMENTS
Slide 92: Product Cost Focus
PRODUCT COST FOCUS FY16 Cost as % of Value Shipped Today Future Maniacal COST Focus ● Strategic control of supply ● Value engineering ● Component diversification ● Next gen logistics ● Design for cost ● Assembly diversification ● Shortages ● Strategic sourcing ● Leverage growth ● Shipping disruption
Slide 93: Inventory Matched to Macro Environment
INVENTORY MATCHED TO MACRO ENVIRONMENT Today Inventory as % of Revenue Port congestion and Tough component Demand variability longer shipping times market
Slide 94: Supply Chain Diversification
SUPPLY CHAIN DIVERSIFICATION Other China SE Asia Mexico India Taiwan Thailand Vietnam Mainland China Malaysia 2018 Today Future
Slide 95: Headwinds / Tailwinds
HEADWINDS / TAILWINDS Headwinds Tailwinds Intermittent COVID disruptions Components no longer in shortage Unresolved geopolitical tension Cost pressure easing Inflation led market challenge Shipping congestion resolved Product mix variability Ocean lead-times and costs improving China reopening WE R
Slide 96: New Product Innovation
NEW PRODUCT INNOVATION EXPERIENCE FRAMEWORK PRODUCT LAUNCH PLAYBOOK New E T Enhance Transform X Users S E ITERATE + PROTOTYPE PRODUCT DEVELOPMENT COMMERCIALIZATION Sustain Enhance Existing Experience New 200+ New products launched in last 5 years
Slide 97: Design & Innovation Leadership
DESIGN & INNOVATION LEADERSHIP 180+ DESIGN Awards Over Past 5 years
Slide 98: Sustainability
ee | SUSTAINABILI . logitech
Slide 99: Path to Climate Positive
PATH TO CLIMATE POSITIVE 2030+ 2021 Climate Carbon Positive 2020 Neutral Carbon 2019 Labels 1.5 Climate Pledge
Slide 100: Our Climate Positive Strategy
OUR CLIMATE POSITIVE STRATEGY RETHINKING BUSINESS REDUCE RENEW RESTORE Design for Sustainability (DfS) Drive ambitious uptake of Adopt a climate positive to achieve ambitious carbon renewable electricity in our approach to restore forestry reductions in our products, own operations and supply and cl
Slide 101: We Have Collectively Made Important Steps
WE HAVE COLLECTIVELY MADE IMPORTANT STEPS Design for Sustainability Low Carbon Aluminum Plastic Bag Elimination Post Consumer Optimized PCB Recycled Plastic
Slide 102: Carbon Is the New Calorie
CARBON IS THE NEW CALORIE First consumer electronics company to commit to providing detailed carbon impact labeling on product packaging across the entire portfolio. Over 45 labeled products already on shelves
Slide 103: 3rd Party Awards and Acknowledgements
3RD PARTY AWARDS AND ACKNOWLEDGEMENTS *The use by Logitech of any MSCI ESG Research LLC or its Affiliates (“MSCI”) data, and the use of MSCI logos, Trademarks, Service Marks or Index Names Herein, do not constitute a sponsorship, endorsement, recommendation or promotion of Logitech by MSCI. MSCI Ser
Slide 104: Finance
FINANCE Chuck Boynton CFO March 2023
Slide 105: Growing Core Capabilities
GROWING CORE CAPABILITIES CAPABILITIES Design and Operational Global Financial Marketing Sustainability Innovation Excellence Go-To-Market Discipline People & Culture CATEGORIES PERSONAL WORKSPACE ROOM COLLABORATION GAMING & CREATORS SOLUTIONS
Slide 106: Confirm Fiscal Year 2023 Outlook
CONFIRM FISCAL YEAR 2023 OUTLOOK FY 2023 Sales (CC) Decline (15%) – (13%) Non-GAAP Operating Income $550M - $600M Note: Figures are non-GAAP and sales decline is in constant currency (cc) Note: See the Forward-Looking Statements for factors that could cause actual results to differ materially from t
Slide 107: Macro Factors Remain Challenging
MACRO FACTORS REMAIN CHALLENGING MARKET CONDITIONS EXPECTED TO CONTINUE IN FY’24… Lower enterprise spend Inflation, monetary policy, impacted by cost reduction energy, and geopolitical and low visibility tensions impacting markets Moderately improved Uneven pace in customer sentiment; return to offi
Slide 108: Disciplined Companies Emerge from Challenging Markets Stronger
DISCIPLINED COMPANIES EMERGE FROM CHALLENGING MARKETS STRONGER FOCUS ON DELIVERING RESULTS… Protect operating Resilient global Maintain/grow share margins by managing diversified business with innovative new expenses model product offerings Enhance customer Maintain investments experience with that
Slide 109: Purpose Built Value Chain
PURPOSE BUILT VALUE CHAIN Capital Factory Inventory Distribution Payables Receivables Allocation Operations Improved On-time to Lower Cost and Improve Linearity Invest in the Excellence Inventory Turns Customers Payment Term Business Management Drive Collections Demand Planning Optimized Performance
Slide 110: Strong Cash Generation with Capital Allocation Framework
STRONG CASH GENERATION WITH COMPELLING CAPITAL ALLOCATION FRAMEWORK ANNUAL CASH FLOW FROM OPERATIONS 115% Our capital allocation framework $1.5B remains consistent with a focus on 87% M&A and strong capital return to shareholders 110% ~$500M 121% Returned $1.4B to shareholders $425M 87% 33% through
Slide 111: Historical Gross Margin, Operating Expense and Operating Profit
HISTORICAL GROSS MARGIN, OPERATING EXPENSE AND OPERATING PROFIT % Of Sales Trends ( Non-GAAP) Gross Margin % Opex % 44.8 Operating Profit % 41.7 37.8 38.4 38.4 37.3 35.9 33.9 26.0 25.4 25.6 25.0 24.7 25.2 24.2 25.2 20.6 16.5 12.6 13.0 12.8 11.4 11.2 8.9 FY‘16 FY‘17 FY‘18 FY‘19 FY‘20 FY’21 FY‘22 FY‘2
Slide 112: Fiscal Year 2024 Stack Ranked Product Category and Seasonality
FISCAL YEAR 2024 STACK RANKED PRODUCT CATEGORY AND RECENT SEASONALITY FY’23 PROJECTED FY‘24 PROJECTED NET SALES AVERAGE NET SALES(%) BY MARGIN% HIGH TO LOW GROWTH HIGH TO LOW QUARTER FOR FY‘20, FY‘22, FY‘23* Video Collaboration Tablets & Accessories Avg: Q1 24%, Q2 24%, Q3 30%, Q4 22% PC Webcams Gam
Slide 113: H1 FY'24 Outlook
H1 FY’24 OUTLOOK H1’23 H1’24 Outlook Revenue $2,309M $1,800M - $1,900M Sales Decline (%) (22%) - (18%) Non-GAAP Operating Income $302M $160M - $190M FY’24 ASSUMPTIONS Non-GAAP effective tax rate Approximately 13% Cash from operations Approximately 1x non-GAAP OP Capex Approximately $90M Note: OP = o
Slide 114: Growing Core Capabilities
GROWING CORE CAPABILITIES CAPABILITIES Design and Operational Global Financial Marketing Sustainability Innovation Excellence Go-To-Market Discipline People & Culture CATEGORIES PERSONAL WORKSPACE ROOM COLLABORATION GAMING & CREATORS SOLUTIONS
Slide 115: Logitech
logitech