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Landis+Gyr Group (LAND) investor relations material

Landis+Gyr Group H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary28 Oct, 2025

Executive summary

  • Achieved strong commercial momentum in H1 FY 2025 with USD 595 million order intake, a book-to-bill ratio of 1.1, and a record USD 3,980 million backlog, supporting long-term growth and sector leadership.

  • Completed divestment agreement for EMEA business at USD 215 million (13.4x EBITDA), enabling a USD 175 million share buyback and a more focused Americas and APAC strategy.

  • Strategic transformation led to a higher-margin, lower-capital-intensity business profile, centered on Grid Edge intelligence and technology platforms, with a US listing targeted for H2 2026.

  • Sustainability leadership advanced, earning EcoVadis Platinum Medal and launching ESG roadmaps for FY 2025-2027.

Financial highlights

  • Net revenue for H1 FY 2025 was USD 535.9 million, down 16.2% year-over-year but up 10.9% sequentially from H2 FY24.

  • Adjusted EBITDA was USD 69.2 million (12.9% margin), down 37.8% year-over-year; adjusted gross profit margin was 33.9%.

  • Net income from continuing operations was USD 11.8 million; net loss attributable to shareholders was USD (189.4) million due to a USD (200.4) million loss from discontinued operations.

  • Net debt at period end was USD 209.3 million, with a net debt to Adjusted EBITDA ratio of 1.4x.

  • Cash flow from operating activities was USD 23.1 million; free cash flow (excluding M&A) was USD 10.2 million.

Outlook and guidance

  • FY 2025 net revenue growth expected at 5%-8%, with strong H2 top-line performance anticipated.

  • Adjusted EBITDA margin guidance raised to 13.0%-14.5% of revenue, up from 10.5%-12.0%, including USD 10-15 million in temporary dis-synergies.

  • Financial year expected to be back-end loaded due to strategic focus on Americas and APAC.

  • US listing targeted for H2 2026, with a transitional dual listing period.

Explain H1 FY25 net loss drivers
US listing impact on existing shareholders?
Drivers for lifted FY25 EBITDA margin guidance?
Revisit M&A strategy post-US listing?
Americas growth drivers beyond current backlog?
Quantify Revelo's margin uplift for Americas
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Q3 2026 TU28 Jan, 2026
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Frequently asked questions

Landis+Gyr Group AG is a Switzerland-based company engaged in the manufacture of electrical components and equipment, specializing in advanced metering and intelligent energy management solutions. The company's product portfolio includes electricity meters, heating and cooling meters, grid management solutions, and personal energy management solutions, among others.. In addition to its hardware offerings, the company provides a range of software services, managed services, cloud services, smart grid services, systems integration, training, consulting, and support services. Landis+Gyr Group AG is headquartered in Cham, Switzerland, and its shares are listed on the SIX Swiss Exchange.

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