罗技Logitech International SA (LOGI) 2017财年年度报告「NASDAQ」.pdf

1、2017 Annual General Meeting Invitation,Proxy Statement and Annual ReportLetter to Shareholders(i)WEVE COME A LONG WAYWhen we meet people from outside Logitech,we often hear,“Wow,you really had a terrific year!”,or“What a turnaround this past year or two!”.The truth is we started down this road five

2、years ago.That was Fiscal Year 2013,when retail sales in constant currency fell-7%year on year.We made changes to our strategy,our culture and our team.And since then weve systematically and passionately worked toward our goal to become a design company.A design company is not one focused on fashion

3、 or beautiful products(although our products are beautiful).Its a company that puts the consumer at the heart of every experience.Weve made great progress.We have won over a hundred design awards across fourteen categories;weve grown market share in almost every category;and weve created new busines

4、ses in Mobile Speakers,Video Collaboration,and Home Video.Were working to reinvent existing categories,too-like Presenters,where the introduction of our Spotlight presentation remote disrupted our own existing offering and transformed the category,taking the experience to a new level.We also acquire

5、d Jaybird,complementing our portfolio with a new brand focused on wireless earbuds that delight those with a sports and active lifestyle.Our focus on design and expansion into new businesses have helped drive the top line.Retail sales have grown each successive fiscal year from a-7%decline in FY 201

6、3 to+2%,+4%and+9%growth each successive year.Last year,we drove+15%growth.Over the same period,our profit has almost quadrupled,from$67 million in FY 2013 to$252 million in FY 2017,up over 40%this last year alone.In FY 2017,we also delivered$279 million in cash flow,returning two thirds of that back