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