▷ Landis + Gyr publishes results for the first half of the fiscal year 2021


28.10.2021 – 07:45

Landis+Gyr

CHAM, Switzerland, Jan. 23 / PRNewswire /

Landis + Gyr (SIX: LAND) today announced the unaudited financial results for the first half of fiscal year 2021 (April 1 to September 30, 2021). Important highlights:

  • Order intake of USD 1,786.9 million corresponds to a book-to-bill ratio of 2.55, driven by major orders won in the USA
  • Record order backlog of USD 3,235.6 million; an increase of 55.5% compared to the previous year
  • Net sales up 9.1% in constant currency to USD 700.9 million in the first half of 2021 due to the recovery in the EMEA region and despite supply chain challenges
  • Adjusted EBITDA * increased 41.3% to USD 70.8 million, a margin of 10.1% compared to 8.0% in the prior-year period
  • Net income of USD 35.0 million or USD 1.21 per share compared to USD (2.0) million or USD (0.07) per share in the prior-year period
  • Free cash flow (excluding M&A) of USD 41.6 million compared to USD 45.3 million in the first half of 2020
  • Strong balance sheet with low net debt of USD 79.3 million and a ratio of net debt to Adjusted EBITDA of 0.5x after multiple acquisitions
  • Outlook for fiscal year 2021 confirmed, whereby the results are likely to be at the lower end of the forecast ranges due to the ongoing and growing challenges in the supply chains
  • Company transformation with strategic initiatives and acquisitions on track

“In the first half of the 2021 financial year, Landis + Gyr achieved a very respectable result in a very challenging global environment characterized by the Covid 19 pandemic and supply chain bottlenecks. We are particularly proud of winning several large orders in the USA, the were finally signed after regulatory delays. These wins are evidence of our industry-leading expertise and technology that empowers our customers to manage energy in a more informed and sustainable manner. These and other key contracts result in a record backlog that is the basis of our Develops medium and long-term business development and motivates our teams around the world to continue to be passionately committed to the success of our customers, “said Werner Lieberherr, Chief Executive Officer of Landis + Gyr.

“We also made encouraging progress in our transformation with several strategic acquisitions that will enable us to grow further in new segments and regions. However, the global supply chain bottlenecks have had a negative impact on our positive development. We expect the negative financial effects of the supply chain situation in the second half of the year compared to the first half of 2021. We have taken various measures and are confirming our outlook for the 2021 financial year, whereby the expected results are likely to be at the lower end of the forecast ranges, “said Lieberherr in conclusion.

Read the entire ad hoc announcement here.

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About Landis + Gyr

Landis + Gyr is a leading global provider of integrated energy management solutions for the energy industry. With one of the broadest offers in the industry, we deliver innovative and flexible solutions and thus help energy supply companies to master their complex challenges in the areas of smart metering, grid edge intelligence and smart infrastructure. With sales of USD 1.4 billion in fiscal 2020, Landis + Gyr employs around 5,000 people in over 30 countries on all five continents with a mission to better manage energy. Further information can be found at www.landisgyr.com.

Important instructions

This ad hoc announcement appears in German and English. In the event of any discrepancies between the English and German versions, the English version is decisive.

This ad hoc announcement contains information on alternative performance measures or non-US-GAAP measures, such as Reported EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Research and Development, Adjusted Sales, General and Administrative and Adjusted Operating Expenses. Definitions of these key figures and reconciliations to comparable key figures under US GAAP can be found on pages 28 to 30 of Landis + Gyr’s 2021 semi-annual report on our website, unless included in this media release www.landisgyr.com/investors.

* For a reconciliation of the non-GAAP measures, see “Additional reconciliations and definitions” in the appendix to the ad hoc announcement www.landisgyr.com/investors/results-center.

Forward-Looking Statements

This ad hoc announcement contains forward-looking, ie future-related information and statements, including on the business outlook for Landis + Gyr Group AG. Such forward-looking statements are based on current expectations, estimates and projections regarding factors that could influence the future business development of the company, including global economic conditions and the economic conditions in the regions and industries in which Landis + Gyr operates essential markets. Such expectations, estimates and projections are generally identified by terms such as “expected”, “believes”, “estimates”, “sets itself a goal”, “plans”, “outlook”, “guidance” or similar formulations. There are many known and unknown risks, uncertainties, and other factors; many of them are beyond the control of the company. This could mean that the actual results differ materially from those assumed in this media release. In addition, these factors could adversely affect the company’s ability to achieve the goals set. Key factors that could lead to such discrepancies include: the duration, severity and geographic spread of the Covid-19 pandemic, the measures taken by governments to combat or mitigate the effects of the Covid-19 pandemic, and the potentially negative ones The impact of Covid-19 on the global economy, the company’s operations, and those of its customers and suppliers; Business risks related to the volatile global economic environment and the volatile global political environment; Costs related to compliance activities; the market acceptance of new products and services; Changes in regulation and exchange rates; the estimate of future warranty and guarantee claims and the resulting costs as well as corresponding provisions; as well as other factors that Landis + Gyr Group AG makes or has made in its communications and entries in connection with the listing on the SIX Swiss Exchange. Although Landis + Gyr Group AG believes that the expectations contained in such forward-looking statements are based on reasonable assumptions, there is no guarantee that these expectations will be met or achieved.

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Original content by: Landis + Gyr, transmitted by news aktuell


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