Q4 FY2021 Logitech Results

KEY MESSAGES - Q4 FY 2021 Q4'21 sales increased a record 108% (CC) to $1.54B, an acceleration of growth versus prior quarters and demonstrated the sustainability of several large secular trends that are driving growth across our product categories Gross margin expanded to 46.6% due to stronger-than-expected sales, lower promotional spending, favorable product mix, and a benefit from currency exchange rates Operating profits increased more than fourfold to $325M as record sales growth and gross margins provided the funding to reinvest across our capabilities while still generating significant operating leverage Cash flow from operations was $530M, up from $101M last year, driven by strong operating profits that allowed us to tactically invest in our working capital to support near-term demand and to improve component and finished goods buffer levels across the global supply chain Note: Results are non-GAAP, except for cash flow from operations. Comparisons are Y/Y and in constant currency unless otherwise specified.

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