Logitech grows in the second quarter of 2024/25 and raises outlook
Published: Tuesday, Oct 22nd 2024, 06:10
Retour au fil d'actualité
Logitech increased both turnover and profit in the second quarter of the 2024/25 financial year. In addition, the computer accessories manufacturer is once again raising its outlook, which was only raised in the first quarter of the year.
Sales in the months of July to September rose by 6 percent to 1.12 billion US dollars, as the Group announced on Tuesday. The growth was broad-based across all regions and categories, CEO Hanneke Faber was quoted as saying.
In addition, operating profit (EBIT, non-GAAP) adjusted for costs in connection with acquisitions and restructuring increased by 5% to 192.8 million dollars. EBIT (GAAP) improved by 3 percent to 160.9 million. Logitech achieved a significant improvement in gross margin, which increased by 210 basis points to 43.6 percent (GAAP) and 44.1 percent (non-GAAP) respectively.
On the bottom line, Logitech achieved an unadjusted net profit (GAAP) of 145.5 million dollars. This is an increase of 6 percent.
Logitech thus exceeded analysts' expectations, particularly in terms of adjusted non-GAAP figures and the margin, but otherwise fell slightly short.
The company is once again raising its outlook for the full year 2024/25. Logitech is now targeting revenue of 4.39 to 4.47 billion US dollars, which corresponds to growth of 2 to 4 percent. Non-GAAP operating profit is now expected to be between 720 and 750 million - an increase of 3 to 7 percent. Previously, the company had forecast sales of USD 4.34 to 4.43 billion and non-GAAP operating profit of USD 700 to 730 million.
CEO Faber is positive in the press release thanks to the numerous innovations that Logitech has brought to the market. "We are ready for the holidays," she is quoted as saying.
©Keystone/SDA
French 
English 
German 
Spanish 
Arabic