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CHAM, Switzerland, Oct. 27, 2022 /PRNewswire/ — Landis+Gyr (SIX: LAND) in the present day introduced unaudited monetary outcomes for the primary half of monetary yr 2022 (April 1st – September 30th, 2022). Key highlights included:
- Sustained strong order consumption of USD 773.2 million akin to a book-to-bill ratio of 1.06
- Committed backlog at record-high stage of USD 3,479.7 million, up 7.5% year-over-year
- Net revenues elevated in H1 FY 2022 by 10.3% in fixed foreign money to USD 728.7 million pushed by the Americas area and regardless of provide chain headwinds
- Adjusted EBITDA* declined 31.2% to USD 48.7 million equal to a margin of 6.7% resulting from increased provide chain value, and USD energy
- Net earnings was USD 186.5 million in H1 FY 2022 together with a one-off acquire associated to divestment of minority stake in Intellihub; Diluted EPS of USD 6.57
- Significant stock build-up in anticipation of robust shipments in H2 ends in damaging Free Cash Flow (excl. M&A) of USD (38.9) million in H1 FY 2022
- Strong steadiness sheet with low web debt of USD 79.3 million and web debt / trailing twelve months adjusted EBITDA ratio of 0.63x
- Confirmation of FY 2022 steerage with anticipated important quantity ramp up in H2 as provide chain state of affairs is anticipated to start out easing
- Well positioned to help utilities and finish clients by means of power disaster with options enabling grid intelligence, driving power effectivity 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”, stated 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 total advert hoc announcement right here.
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About Landis+Gyr
Landis+Gyr is a number one international supplier of built-in power administration options. We measure and analyze power utilization to generate empowering analytics for good grid and infrastructure administration, enabling utilities and customers to scale back power consumption. Our modern and confirmed portfolio of software program, providers and clever sensor expertise is a key driver to decarbonize the grid. Having averted greater than 9 million tons of CO2 in FY 2021, Landis+Gyr manages power higher – since 1896. With gross sales of USD 1.5 billion in FY 2021, Landis+Gyr employs round 6,800 proficient individuals throughout 5 continents. For extra info, please go to our web site www.landisgyr.com.
Disclaimer
This advert hoc announcement and data referred to herein accommodates (a) preliminary, unaudited numbers which may be topic to vary and (b) info relating to different efficiency measures or non USGAAP measures, reminiscent of “Reported EBITDA”, “Adjusted EBITDA”, “Adjusted Gross Profit”, “Adjusted Research and Development”, “Adjusted Sales, General and Administrative”, and “Adjusted Operating Expenses”. Definitions of those measures and reconciliations between such measures and their USGAAP counterparts if not outlined on this announcement could also be discovered on pages 28 to 30 of the Landis+Gyr Half Year Financial Report Fiscal Year 2022 on our web site at www.landisgyr.com/buyers.
* For a reconciliation of non-GAAP measures, see chapter “Supplemental Reconciliations and Definitions (unaudited)” within the advert hoc announcement on www.landisgyr.com/buyers/results-center.
Forward-looking Information
This advert hoc announcement consists of forward-looking info and statements, together with statements in regards to the outlook for Landis+Gyr Group AGʼs companies. These statements are based mostly on present expectations, estimates and projections concerning the elements that will have an effect on the Companyʼs future efficiency, together with international financial circumstances, and the financial circumstances of the areas and industries which are main markets for Landis+Gyr. These expectations, estimates and projections are usually identifiable by statements containing phrases reminiscent of “expects”, “believes”, “estimates”, “targets”, “plans”, “outlook”, “guidance” or related expressions. There are quite a few dangers, uncertainties and different elements, a lot of that are past Landis+Gyrʼs management, that might trigger the Companyʼs precise outcomes to vary materially from the forward-looking info and statements made on this announcement and which may have an effect on the Companyʼs capability to realize its acknowledged targets. The essential elements that might trigger such variations embody, amongst others: the period, severity, geographic unfold and potential after results of the COVID-19 pandemic, authorities actions to handle or mitigate the impression of the COVID-19 pandemic, and the potential damaging impacts of COVID-19 on the worldwide economy, any of the Company’s operations and people of its clients and suppliers; international scarcity of power or equipped elements in addition to elevated freight charges, business dangers related to the unstable international financial setting and political circumstances, unrests and/or wars; prices related to compliance actions; market acceptance of recent services and products; modifications in governmental laws and foreign money trade charges; estimates of future guarantee claims and bills and sufficiency of accruals; and different such elements as could also be mentioned every so often in Landis+Gyr Group AG filings with the SIX Swiss Exchange. Although Landis+Gyr Group AG believes that its expectations mirrored in any such forward-looking assertion are based mostly upon cheap assumptions, it can provide no assurance that these expectations will likely be achieved.
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