Landis+Gyr Reports Mixed H1 2024 Financial Results

Landis+Gyr Group AG ( (LGYRF) ) has realeased its Q2 earnings. Here is a breakdown of the information Landis+Gyr Group AG presented to its investors.

Landis+Gyr Group AG is a leading global provider of energy management solutions, known for its innovative approach in integrating edge-to-enterprise solutions for utilities, operating primarily in the energy sector with a strong focus on sustainable practices.

The company recently released its earnings report for the first half of 2024, showing a mixed financial performance. While the company faced a slight decline in net revenue, there was a notable increase in net income and adjusted EBITDA, highlighting its resilience and operational efficiency amid fluctuating market conditions.

Key financial metrics revealed a net revenue of USD 925.6 million, a decrease of 4.3% in constant currency compared to the previous period. Despite this, adjusted EBITDA improved marginally to USD 108.2 million, and net income attributable to shareholders rose by 17% to USD 48.2 million, reflecting operational efficiencies and strategic initiatives. The company also maintained a strong committed backlog of USD 3.7 billion, primarily driven by the Americas market.

Landis+Gyr’s strategic focus on the Americas is evident, as it plans to evaluate a potential US listing to align with its growth strategy. The company also intends to explore strategic options for its EMEA business, aiming to enhance value creation across its operations.

Looking forward, Landis+Gyr remains optimistic about its growth prospects, reiterating its outlook for fiscal year 2024 with expectations of modest revenue growth and an adjusted EBITDA margin between 11% and 13%. The company continues to prioritize operational efficiencies and cash conversion while supporting its customers in the global energy transition.