Landis+Gyr Group (LAND) CMD 2026 summary

Strategic transformation, vision, and market positioning

• Completed exit from EMEA, focusing on high-growth, profitable markets in North America and APAC, with leadership in the U.S., Australia, and Japan.

• Reorganized into Connected Platforms (hardware, devices, deployment services) and Grid Intelligence (software, analytics, AI applications), aligning with customer transformation and industry trends.

• Operating in a $120 billion serviceable addressable market, with a $3.9 billion contracted backlog and strong presence in 40+ countries.

• Trusted by over 2,000 utilities, with 127+ million intelligent sensors deployed and 33+ million cloud-connected endpoints under contract.

• Positioned as a leader in intelligent energy solutions, supporting utilities through industry transformation and energy transition.

Technology innovation and customer value

• Introduced Revelo and Surent platforms, enabling real-time grid insights, flexibility management, and expansion in intelligent gas and AI-enabled applications.

• Grid Intelligence segment delivers double-digit growth, offering software and AI-driven applications that enhance operational control and customer engagement.

• Applications include outage detection, load disaggregation, DER orchestration, predictive maintenance, and proactive wildfire intelligence.

• Open ecosystem approach allows third-party and partner-developed applications, expanding monetization opportunities.

• Multi-decade partnerships with utilities drive platform adoption, innovation, and operational integration, with high retention rates and proven land-and-expand model.

Financial outlook and capital allocation

• Mid-single-digit revenue CAGR expected through FY2028, with adjusted EBITDA CAGR at twice the rate of revenue growth and gross margin above 35%.

• Grid Intelligence segment expected to grow revenue by over 10% annually, with gross margin near 50%; Connected Platforms to grow at low to mid-single digits with ~30% margin.

• Free cash flow conversion targeted at ~80% of adjusted EBITDA, supporting annual dividends, share buybacks, and M&A.

• Asset-light model targets ROIC above 30% and maintains strong balance sheet for strategic flexibility.

• Internally ready for a potential U.S. listing, with timing to be determined by shareholder value considerations.