PR98499

CHAM, Switzerland, Oct. 27, 2022 /PRNewswire=KYODO JBN/ --

Landis+Gyr (SIX: LAND) today announced unaudited financial results for the

first half of financial year 2022 (April 1st - September 30th, 2022). Key

highlights included:

- Sustained solid order intake of USD 773.2 million corresponding to a

book-to-bill ratio of 1.06

- Committed backlog at record-high level of USD 3,479.7 million, up 7.5%

year-over-year

- Net revenues increased in H1 FY 2022 by 10.3% in constant currency to USD

728.7 million driven by the Americas region and despite supply chain headwinds

- Adjusted EBITDA* declined 31.2% to USD 48.7 million equivalent to a margin of

6.7% due to higher supply chain cost, and USD strength

- Net income was USD 186.5 million in H1 FY 2022 including a one-off gain

related to divestment of minority stake in Intellihub; Diluted EPS of USD 6.57

- Significant inventory build-up in anticipation of strong shipments in H2

results in negative Free Cash Flow (excl. M&A) of USD (38.9) million in H1 FY

2022

- Strong balance sheet with low net debt of USD 79.3 million and net debt /

trailing twelve months adjusted EBITDA ratio of 0.63x

- Confirmation of FY 2022 guidance with expected significant volume ramp up in

H2 as supply chain situation is expected to start easing

- Well positioned to support utilities and end customers through energy crisis

with solutions enabling grid intelligence, driving energy efficiency and grid

stability

"We see a favorable environment for energy efficiency technologies and

solutions, which is reflected in our continued solid order intake, and further

amplified by the current energy crisis. While the first half of FY 2022

continues to be impacted by ongoing supply chain challenges, we expect to see

improvements in the second half. Due to the volatile availability of components

needed to convert our high order backlog, we have temporarily higher

inventories. While this impacts our cash position in the short-term, we are

well positioned for a production ramp up in the second half of the current

fiscal year", said Werner Lieberherr, Chief Executive Officer of Landis+Gyr.

"Due to the continuation of deployments of critical infrastructure even during

economic cooldowns, Landis+Gyr is recession-resilient, and paired with our

strategic transformation, we feel confident about the future", Lieberherr

concluded.

Read the full ad hoc announcement here[

https://www.landisgyr.eu/news/landisgyr-announces-first-half-fy-2022-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, Landis+Gyr manages energy better – since 1896. With sales of USD 1.5

billion in FY 2021, Landis+Gyr employs around 6,800 talented people across five

continents. For more information, please visit our website www.landisgyr.com.

Disclaimer

This ad hoc announcement 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 announcement may be found on pages 28 to 30

of the Landis+Gyr Half Year Financial Report Fiscal Year 2022 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 ad hoc announcement 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 announcement 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 energy

or 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.

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Source Landis+Gyr