Logitech is aiming for long-term growth of between 8% and 10%, or even more, said the general manager of the computer peripherals manufacturer, Bracken Darrell, in an interview published on Friday on the news portal The Market.
For the current year, the Vaudois group forecasts growth of 2% to 4% in local currencies, instead of the approximately 5% previously articulated, he indicated at the beginning of May. Logitech has stopped deliveries to Russia, which together with Ukraine represents 2% of the company’s turnover.
The American boss said he was less worried about the confinements in China, the second market for Logitech. The Chinese “bought more products when they were confined” and the production lines continued to run despite the Covid-19, he underlined.
Significant acquisitions are not on the agenda, added the leader. With net liquid assets of $1.3 billion, there is no shortage of funds for this type of operation, but these are complex and difficult to carry out. Nevertheless, Logitech remains “very aggressive” in its search for takeover targets and regularly acquires new technologies.
In this context, a small acquisition should be announced soon.
/ATS