Rapport Annuel 2010, Invitation et Document D’Information Geschäftsbericht 2010, Einladung und Informationsmaterial L O G I 2010 Annual Report, Invitation and Proxy Statement T E C H 2 0 1 0 SIX: LOGN-VX NASDAQ: LOGI For more information about Logitech and its products, please visit our web site: www.logitech.com. 195763Logitech_Cvr_r1.indd 1 CREATION DATE: 07/27/10 OUTPUT DATE: 07/27/10 7/17/10 3:26 AM Executive Team Board of Directors Gerald P. Quindlen Guerrino De Luca President and Chief Executive Officer Chairman of the Board Logitech Erik K. Bardman Selected Financial Highlights Chief Financial Office, Senior Vice President, Finance Gerald P. Quindlen President and Chief Executive Officer The following selected historical information has been derived from audited financial statements included in our annual reports for such years. Accordingly, the table Junien Labrousse Logitech should be read in conjunction with the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our annual reports for Fiscal Years 2008 through 2010 and the section titled “Operating and Financial Review and Prospects,” in our annual reports for Fiscal Years 2006 through 2007. Executive Vice President, Products Daniel Borel Werner Heid Co-Founder and Former Chairman of the Board Fiscal Year 20061 2007 2008 2009 2010 Senior Vice President, Worldwide Sales and Marketing Logitech (in thousands of U.S. dollars, except per share amounts) David Henry Matthew Bousquette Net sales $ 1,796,715 $ 2,066,569 $ 2,370,496 $ 2,208,832 $ 1,966,748 Senior Vice President, Customer Experience and Chairman Gross margin 32.0% 34.3% 35.8% 31.3% 31.9% Chief Marketing Officer Enesco LLC Operating income $ 198,911 $ 230,862 $ 286,680 $ 109,654 $ 78,364 Operating margin 11.1% 11.2% 12.1% 5.0% 4.0% L. Joseph Sullivan Erh-Hsun Chang Senior Vice President, Worldwide Operations Former Senior Vice President, Worldwide Operations and Net income $ 181,105 $ 229,848 $ 231,026 $ 107,032 $ 64,957 General Manager, Far East Earnings per diluted share $ 0.92 $ 1.20 $ 1.23 $ 0.59 $ 0.36 Martha Tuma Logitech Diluted number of shares (in millions) 198,769 190,991 187,942 182,911 179,340 Vice President, Human Resources Cash flow from operations $ 152,217 $ 303,825 $ 393,079 $ 200,587 $ 365,259 Kee-Lock Chua Capital expenditures $ 54,102 $ 47,246 $ 57,900 $ 48,263 $ 39,834 Catherine Valentine President and Chief Executive Officer Vice President, Legal, Vertex Group Cash and cash equivalents and short-term investments, net of short-term debt $ 230,943 $ 398,966 $ 486,292 $ 494,396 $ 319,944 General Counsel and Secretary of the Board Sally Davis Shareholders’ equity $ 685,176 $ 844,524 $ 960,044 $ 997,708 $ 999,715 Chief Executive Officer BT Wholesale 1 Oper ating income, Operating margin, Net income and Earnings per diluted share for Fiscal Year 2006 do not include the effect of share-based compensation expense because Logitech changed its method of accounting for share-based compensation expense effective April 1, 2006. Richard Laube Executive Vice President Nestlé S.A. Chief Executive Officer This document contains forward-looking statements, including the statements regarding being positioned for a return to double-digit growth in Fiscal Nestlé Nutrition Year 2011 and beyond, our long-term growth strategy, our product introduction plans, our belief that we can create a seamless video experience across screens, our plan for China to become one of our top three markets, and our plans for developing products for open eco-systems. The forward- looking statements involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these Robert Malcolm forward-looking statements. Factors that could cause actual results to differ materially include: our inability to predict the timing and strength of the Former President, Global Marketing, Sales and Innovation improvement in our business, operating results and financial condition; het demand of our customers and our consumers for our products and our Diageo plc ability to accurately forecast it; if we fail to execute upon our long-term strategic plans and opportunities; if our investments in our strategic priorities do not result in the growth we expect; consumer reaction to our new products; if we fail to take advantage of long-term trends in the consumer electronics and personal computers industries; if we fail to successfully innovate in our current and emerging product categories and identify new Monika Ribar feature or product opportunities; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our President, Chief Executive Officer sales, gross margins and profitability; our product introductions and marketing activities not resulting in the product or category growth we expect, Panalpina Group or when we expect it; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech’s periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the Fiscal Year ended March 31, 2010, and our subsequent Quarterly Reports on Form 10-Q available at www.sec.gov. Logitech does not undertake to update any forward-looking statements. Investor Relations Investor inquiries may be directed to: [email protected] © 2010 Logitech. All rights reserved. Logitech, the Logitech Annual Meeting logo, and other Logitech marks are registered in the United Logitech’s annual meeting of shareholders will be held at States and other countries. All other trademarks are the 14:30 Central European Summer Time, September 8, 2010, property of their respective owners. at the Palais de Beaulieu in Lausanne, Switzerland. 195763Logitech_Cvr_r1.inddCREATION DATE: 07/27/10 2 OUTPUT DATE: 07/27/10 7/17/10 3:26 AM Executive Team Board of Directors 1 Logitech 2010 Gerald P. Quindlen Guerrino De Luca fraNPresidentçais and Chief Executive Officer deutsche Chairman of thee NBoargldish Logitech Erik K. Bardman Selected Financial Highlights A nosChief actionnair Financiales Office, Senior Vice President,Sehr F inancegeehrte Aktionärin, sehrGer ald P. Quindlento our shareholders geehrter Aktionär President and Chief Executive Officer The following selected historical information has been derived from audited financial statements included in our annual reports for such years. Accordingly, the table L’exerciceJunien fiscal Labr 201ousse0 a été critique a bien Das Geschäftsjahr 2010 war für LogitLogitechec inh Fiscal Year 2010 was pivotal for Logitech should be read in conjunction with the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our annual reports for des égards pour Logitech. jeder Hinsicht wegweisend. in every sense. Fiscal Years 2008 through 2010 and the section titled “Operating and Financial Review and Prospects,” in our annual reports for Fiscal Years 2006 through 2007. Executive Vice President, Products Sans conteste, 2010 a été l’une des Einerseits stellten sich dem UntDanielernehm Boren el On one hand, it was among the most annéesW leers nerplus Heidexigeantes de toute enorme Herausforderungen. Die wCo-Felt- ounder andch Faorllemerngin Chairg in omanur co ofm pthean yBoar’s hisdtory. l’histoire de notre société. Dans le sillage weite Rezession, die im September In the wake of the global recession Fiscal Year 20061 2007 2008 2009 2010 Senior Vice President, Worldwide Sales and Marketing Logitech de la récession mondiale qui avait débuté 2008 begonnen hatte, belastete die that began in September 2008, weak (in thousands of U.S. dollars, except per share amounts) en septembre 2008, l’affaiblissement de Nachfrage und führte zu enttäuschenden David Henry Matthew Bousqcouettnsumeer demand led to disappointing la demande des consommateurs a généré Finanzergebnissen. Trotz des wirtschaft- Net sales $ 1,796,715 $ 2,066,569 $ 2,370,496 $ 2,208,832 $ 1,966,748 Senior Vice President, Customer Experience and Chairman financial results. However, in spite of the des résultats financiers décevants. Dans lichen Umfelds gelang es uns jedoch, im Gross margin 32.0% 34.3% 35.8% 31.3% 31.9% Chief Marketing Officer Enesco LLC economic environment, we succeeded in un contexte économique défavorable, letzten Quartal des Geschäftsjahres ein Operating income $ 198,911 $ 230,862 $ 286,680 $ 109,654 $ 78,364 finishing the fiscal year with a very solid nous avons toutefois terminé l’exercice äusserst solides Ergebniss zu erzielen L. Joseph Sullivan Erh-Hsun Changquarter and with strong momentum Operating margin 11.1% 11.2% 12.1% 5.0% 4.0% sur un trimestre très solide, qui nous a und das Geschäftsjahr 2011 unter guten Senior Vice President, Worldwide Operations Former Senior Veicente rPrinesident,g FY 201 W1. orOnldwide the ot Operher hationsand, and Net income $ 181,105 $ 229,848 $ 231,026 $ 107,032 $ 64,957 donné l’élan nécessaire pour entamer Vorzeichen zu beginnen. Andererseits General Managcerha, Fnargin Easg ctonsumers delivered unique new 2011 sur de bonnes bases. Autre point boten sich dank neuer Konsumenten einma- Earnings per diluted share $ 0.92 $ 1.20 $ 1.23 $ 0.59 $ 0.36 opportunities, and we began a strategic positif,Mar l’évothaluti oTnuma du comportement des lige Chancen. Wir leiteten eine strLogitategisecchhe Diluted number