Half Year 2026 Landis+Gyr Group AG Earnings Call Transcript
Key Points
- Landis+Gyr Group AG (LDGYY) reported a strong order intake of $595 million, resulting in a book-to-bill ratio of 1.1, driven by key grid edge tech wins in the Americas.
- The company achieved a record order backlog of nearly $4 billion, providing a solid base and clear outlook for long-term growth.
- The divestment of the EMEA business was completed, allowing the company to return proceeds to shareholders through a $175 million share buyback program.
- Landis+Gyr Group AG (LDGYY) successfully executed two out of three strategic initiatives, with a continued focus on the Americas as a key priority.
- The company increased its adjusted EBITDA margin forecast from 10.5%-12% to 13%-14.5% of revenue, reflecting a more focused and efficient operating model.
- Net revenue for the first half of 2025 was $535.9 million, reflecting a year-over-year decline due to early milestone completions and the wrap-up of a major APAC project in the prior year.
- The lower sales volume impacted both gross margin and adjusted EBITDA on a year-over-year basis, driven by reduced operating leverage and the absence of a one-time gain from the previous year.
- Revenue in the Americas declined by 16% year-over-year, largely due to the early completion of deliverables on a large software project in Japan and lower sales of certain legacy meters.
- APAC revenue declined by 17.4% year-over-year, primarily due to the completion of a major project in Hong Kong and a delayed project rollout in Bangladesh.
- The company faced a temporary $5 million impact from tariffs in the first half of the year, affecting financial performance.
Ladies and gentlemen, welcome to the analyst and investor call half year 2025 conference call and live webcast. I am Sandra, the Chorus Call operator. (Operator Instructions) The conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Christian Waelti. Please go ahead, sir.
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Thank you, Sandra. And good afternoon, good morning, everyone. As you know, earlier today, Landis+Gyr issued its results ad hoc release and related presentation for the first half year 2025, which are available on our website.
This session will follow the structure of the earnings presentation, so we encourage you to follow along. We'll conclude with Q&A, where Sandra will provide further instructions and where you will be able to ask questions. Please take a moment to review the usual disclaimer on slide 2 of the presentation.
A brief note on reporting before
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