Landis+Gyr Announces FY 2021 Financial Results
PR95823
CHAM, Switzerland, May 5, 2022 /PRNewswire=KYODO JBN/--
Landis+Gyr (SIX: LAND) today announced unaudited financial results for
financial year 2021 (April 1st, 2021 - March 31st, 2022). Key highlights
included:
-- Strong order intake of USD 2,665.5 million corresponding to a book-to-
bill ratio of 1.82 driven by contract wins across all regions
-- Record committed backlog of USD 3,388.6 million, an increase of 56.5%
year-over-year (YoY)
-- FY 2021 net revenues increased 6.9% YoY in constant currency to USD
1,464.0 million (5.1% organic) in all regions, primarily driven by the
recovery in the EMEA region
-- Adjusted EBITDA* up 5.3% to USD 147.0 million, equivalent to a margin
of 10.0% (10.6% organic)
-- Supply chain related constraints negatively impacted net revenues and
costs impacted Adjusted EBITDA
-- Net income of USD 79.4 million or USD 2.59 per share compared to a net
loss in the previous year
-- Free Cash Flow (excl. M&A) was USD 89.0 million compared to USD 97.6
million in FY 2020
-- Net debt of USD 143.6 million as per financial year-end – Intellihub
divestment on April 1st, 2022 resulting in proceeds of more than USD
220 million before tax in FY 2022
-- Distribution from statutory capital reserves of CHF 2.15 per share for
FY 2021 will be proposed to the Annual General Meeting
-- FY 2022 to be a transition year with high degree of uncertainty from
external factors – expecting reported net revenue growth of 6% to 10%
and an Adjusted EBITDA margin between 5% to 8%
-- Large installed base of more than 130 million connected intelligent
devices helped avoid 9 million tons of CO2 emissions
-- Dave Geary will not stand for re-election to the Board of Directors at
the upcoming AGM 2022
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"FY 2021 was a transformative year for us as we expand our reach in smart
infrastructure and grid edge intelligence solutions. We have closed a number of
important acquisitions, adding a cost-competitive metering platform and
solidifying our position in the EV charging solutions market, while leveraging
our co-innovation partnerships to expand our portfolio of holistic data
analytics solutions and services", said Werner Lieberherr, Chief Executive
Officer of Landis+Gyr.
"While delivering a strong performance in FY 2021, as a result of the ongoing
global supply chain challenges, we saw an impact of about USD 100 million of
revenues being pushed out as well as additional costs of approximately USD 30
million. We expect FY 2022 to be a transition year with continued high
investments and increasing supply chain and inflation headwinds before we see
the benefits of our transformative initiatives in FY 2023. In this context, I
would like to thank our customers and shareholders for their continued trust
and our employees for their tireless efforts and outstanding level of
commitment. Looking ahead, we are well positioned to drive our transformation
forward and continue to take on a key role in decarbonizing the grid",
Lieberherr concluded.
Read the full ad hoc announcement here (
https://www.landisgyr.com/news/landisgyr-announces-fy-2021-financial-results/ ).
Contact Media
Melissa van Anraad
Head of PR
Phone: +41-41-935-6398
Melissa.vanAnraad@landisgyr.com
Investor inquiries: ir@landisgyr.com
Media inquiries: pr@landisgyr.com
About Landis+Gyr
Landis+Gyr is a leading global provider of integrated energy management
solutions. We measure and analyze energy utilization to generate empowering
analytics for smart grid and infrastructure management, enabling utilities and
consumers to reduce energy consumption. Our innovative and proven portfolio of
software, services and intelligent sensor technology is a key driver to
decarbonize the grid. Having avoided more than 9 million tons of CO2 in FY 2021
and committed to achieve carbon neutrality by 2030, Landis+Gyr manages energy
better – since 1896. With sales of USD 1.5 billion in FY 2021, Landis+Gyr
employs around 6,500 talented people across five continents. For more
information, please visit our website www.landisgyr.com.
Disclaimer
This release and information referred to herein contains (a) preliminary,
unaudited numbers that may be subject to change and (b) information regarding
alternative performance measures or non USGAAP 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 measures and reconciliations between
such measures and their USGAAP counterparts if not defined in this release may
be found on pages 28 to 30 of the Landis+Gyr Half Year Financial Report Fiscal
Year 2021 on our website at www.landisgyr.com/investors.
* For a reconciliation of non-GAAP measures, see chapter "Supplemental
Reconciliations and Definitions (unaudited)" in the ad hoc announcement on
www.landisgyr.com/investors/results-center.
Forward-looking Information
This release includes forward-looking information and statements, including
statements concerning the outlook for Landis+Gyr Group AG's businesses. These
statements are based on current expectations, estimates and projections about
the factors that may affect the Company's future performance, including global
economic conditions, and the economic conditions of the regions and industries
that are major markets for Landis+Gyr. These expectations, estimates and
projections are generally identifiable by statements containing words such as
"expects", "believes", "estimates", "targets", "plans", "outlook", "guidance"
or similar expressions. There are numerous risks, uncertainties and other
factors, many of which are beyond Landis+Gyr's control, that could cause the
Company's actual results to differ materially from the forward-looking
information and statements made in this presentation and which could affect the
Company's ability to achieve its stated targets. The important factors that
could cause such differences include, among others: the duration, severity,
geographic spread and potential after effects of the COVID-19 pandemic,
government actions to address or mitigate the impact of the COVID-19 pandemic,
and the potential negative impacts of COVID-19 on the global economy, any of
the Company's operations and those of its customers and suppliers; global
shortage of supplied components as well as increased freight rates, business
risks associated with the volatile global economic environment and political
conditions, unrests and/or wars; costs associated with compliance activities;
market acceptance of new products and services; changes in governmental
regulations and currency exchange rates; estimates of future warranty claims
and expenses and sufficiency of accruals; and other such factors as may be
discussed from time to time in Landis+Gyr Group AG filings with the SIX Swiss
Exchange. Although Landis+Gyr Group AG believes that its expectations reflected
in any such forward-looking statement are based upon reasonable assumptions, it
can give no assurance that those expectations will be achieved.
SOURCE: Landis+Gyr
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