Unknown Analyst

Hey, everyone. Thank you for joining us today. For our last session, we have the CEO of Logitech, Hanneke Faber. Thank you, Hanneke, for joining us today. I appreciate your time.

Johanna Faber
CEO & Director

With pleasure.

Unknown Analyst

So maybe I want to start with a more open-ended question. You're entering your third year as the CEO. Maybe can I ask you to reflect back on your prior 2 years. Specifically, what has taken you the most surprised or taken you by the most surprise at the helm? And how is that kind of shaping your strategic vision going forward, particularly just given kind of the geopolitical environment, AI, et cetera?

Johanna Faber
CEO & Director

Yes. There's a lot of questions in one. I would say, overall, my top line would be, I feel proud of what the team has accomplished in the last 2 years. But I'm also feel a great sense of urgency about what we now need to do. So proud because when I came in 2.5 years ago, the business was declining. China was in a really poor shape for us. Now when I look at the results we just delivered for our fiscal, we've had 8 quarters of growth. We have had fantastic earnings expansion, operating income margins at 18.8%, well above our long-term model last year, great balance sheet.

China is our star. So our execution has been very, very strong. So I'm proud of that. But at the same time, I feel a huge sense of urgency because AI is changing the way people work and play and that provides fantastic opportunities