LANDIS GYR GROUP AG U/ADR - LDGYY STOCK NEWS

Landis+Gyr showcased advanced solutions for energy monitoring and electric vehicle (EV) management at DISTRIBUTECH 2022. The firm highlighted its ability to enhance data management through cloud services and cutting-edge metering technology aimed at decarbonizing the grid. Key innovations included the certified Revelo meter, which improves connectivity and energy data insights, along with collaborations with Google Cloud for smart grid analytics. Additionally, Landis+Gyr introduced new software for managing EV charging, promoting sustainability and efficient data use.

Landis+Gyr has been awarded the 2022 Global AMI Company of the Year Award by Frost & Sullivan, acknowledging its innovative smart metering solutions that enhance energy management and customer value. The company leverages advanced technologies such as LTE-M and NB-IoT cellular communications in its products. With a focus on real-time energy pattern recognition, Landis+Gyr improves the transparency and efficiency of energy delivery. The company's commitment to decarbonization includes avoiding over 8.5 million tons of CO2 in FY 2020, with initiatives aimed at achieving carbon neutrality by 2030.

Landis+Gyr has committed to joining the Science Based Target initiative (SBTi) to set science-based targets for reducing carbon emissions. Following a previous announcement to achieve carbon neutrality by 2030, the company aims to set both near-term and long-term emission reduction goals in line with the Paris Agreement. Since 2007, Landis+Gyr has reduced its carbon footprint by 47% and helped avoid over 9 million tons of CO₂ emissions in 2021. The SBTi commitment will enhance efforts in reducing emissions within operations and the supply chain.

Landis+Gyr Technology Inc. has secured a contract with Otter Tail Power Company to supply advanced metering infrastructure, software, and services to enhance the utility's energy grid across Minnesota, North Dakota, and South Dakota. The agreement entails the delivery of 175,000 advanced meters and a 20-year SaaS contract for data management and analytics. This initiative aims to improve outage management and empower consumers with better energy management through Landis+Gyr's innovative Revelo meters, highlighting the company's commitment to smart energy solutions.

Landis+Gyr Group AG announced the appointment of Sean Cromie as the new Executive Vice President and Head of Americas, effective January 1, 2022. Cromie, who joined the company in June 2020, has streamlined operations and stabilized the supply chain. His predecessor, Prasanna Venkatesan, will transition to the role of Executive Vice President Strategy. Venkatesan has significantly influenced the Americas region, ensuring strategic growth opportunities. This leadership change aims to enhance customer commitments and innovation in energy management solutions.

Landis+Gyr Group AG has announced the sale of its 16.8% stake in Intellihub Operations Pty Ltd for over AUD 310 million. The buyer, Brookfield, will collaborate with Pacific Equity Partners in this venture. The deal, expected to close by the end of February 2022, is projected to yield over USD 220 million for Landis+Gyr, although capital gain tax in Australia and stamp duty in Switzerland will partially offset this amount. Landis+Gyr's CEO highlighted the significance of this transaction in supporting the company's strategic growth in energy management solutions.

Landis+Gyr announced its unaudited financial results for the first half of FY 2021, revealing a strong performance amidst COVID-19 challenges. Key metrics included:

• Order intake of USD 1,786.9 million with a book-to-bill ratio of 2.55, driven by major US contracts.
• Net revenues increased by 9.1% YoY to USD 700.9 million.
• Adjusted EBITDA grew 41.3% to USD 70.8 million, with a margin of 10.1%.
• Net income reached USD 35.0 million, or USD 1.21 per share, compared to a loss in H1 FY 2020.
• Guidance for FY 2021 confirmed, but results expected towards the lower end due to supply chain issues.

Landis+Gyr Technology has inked a five-year contract with Louisville Gas and Electric and Kentucky Utilities to implement advanced metering and smart grid infrastructure. This deal includes 930,000 electricity meters and 300,000 gas modules, along with necessary network equipment and software. The technology aims to enhance service reliability and enable customers to better manage energy use. The project, approved by the Kentucky Public Service Commission, highlights Landis+Gyr's role in modernizing Kentucky's energy system, offering a comprehensive IoT network for energy distribution.