Landis+Gyr Group Ltd

Latest Results (12.10.2025):

Landis+Gyr Group Ltd reported its first half of the financial year 2024 with a net revenue of USD 925.6 million, reflecting a 4.3% year-over-year decline. Despite the decrease in revenue, the company achieved an adjusted EBITDA of USD 108.2 million and a net income increase of 16.8% compared to the previous year. The strategic focus remains on expanding in the Americas while reviewing opportunities in the EMEA region.

Order Intake and Committed Backlog

For the first half of FY 2024, Landis+Gyr recorded an order intake of USD 812.1 million, resulting in a book-to-bill ratio of 0.9 and a committed backlog of USD 3,645.1 million. The Americas region led with USD 565.5 million in orders, while EMEA faced an 18.1% decrease in backlog to USD 595.3 million.

Net Revenue

Net revenue declined by 4.3% year-over-year to USD 925.6 million in H1 FY 2024, primarily due to project timing in the EMEA region. The Americas maintained steady revenue with a slight decrease of 0.2% in constant currency, while EMEA and Asia Pacific saw revenues drop by 11.4% and 4.2% respectively.

Adjusted EBITDA and Margins

Adjusted EBITDA improved to USD 108.2 million, with a margin increase to 11.7%, up 60 basis points from the previous year. This improvement was driven by strong performance in the Americas and Asia Pacific, as well as a gain from the sale of real estate in India.

Net Income and Earnings per Share

Net income rose by 16.8% to USD 48.2 million, translating to USD 1.67 per diluted share. This growth was supported by higher profitability in regions with increased tax rates.

Free Cash Flow

Free Cash Flow, excluding M&A activities, was USD (13.5) million in H1 FY 2024, impacted by higher operating working capital requirements.

Strategic Update

Landis+Gyr is intensifying its focus on the Americas while launching a strategic review of its EMEA operations. The company is also evaluating the potential for a US listing to enhance value creation.