CHAM, Switzerland, Jan. 31, 2023 /PRNewswire/ -- Landis+Gyr Group AG (SIX: LAND) today holds its Capital Markets Day at Google in Zürich, Switzerland, and virtually, with Executive Management providing an update on the financial targets, industry, strategy and technology roadmaps. Highlights include:
- Introduction of mid-term financial year 2025 targets with mid to high single digit growth, Adjusted EBITDA of between 12% and 14% and a confirmation of the progressive dividend policy, while the Company puts a strong focus on cash conversion
- Confirmation of strategy based on three pillars Smart Metering, Grid Edge Intelligence and Smart Infrastructure, shifting the portfolio towards the latter ones, increasing analytics offering
- Strong balance sheet enables continued investments in innovation, positioning the Company for longer-term growth, with investment capacity for acquisitions
- Fully integrated "edge-to-cloud" portfolio enabled by Google Cloud provides customers with flexibility and choice, and forms the basis for EV and demand flexibility solutions
- Landis+Gyr has signed up to the Science Based Targets initiative and commits to reducing Scope 1 and 2, as well as Scope 3 emissions by 42% by 2030
Werner Lieberherr, Landis+Gyr`s Chief Executive Officer, said: "The urgent need for global decarbonization along with the current energy crisis are key drivers for the increased demand of intelligent power grids, driving energy efficiency and ensuring stability of critical infrastructure. Our solutions to solve these challenges position us in the sweet spot of the energy transition as an ESG-centric industry leader, driving sustainable impact by empowering utilities and end consumers to manage energy better.
At our last Capital Markets Day in 2021, we announced various initiatives to transform Landis+Gyr for future long-term profitable growth. Since then, and despite various challenges associated with the global pandemic and supply chain constraints, we have invested heavily to expand Grid Edge Intelligence and Smart Infrastructure by making five acquisitions and investing an additional 2% or revenues in R&D. Our transformational efforts, also as part of our seven-year strategic partnership with Google, are now delivering additional tangible benefits for our customers and end consumers.
Going forward, we continue to build on our strong Smart Metering base with leading innovation, while driving profitable growth in the additional two strategic pillars Grid Edge Intelligence and Smart Infrastructure by computing intelligence at the edge, guarding critical infrastructure and empowering cloud-based insights. We are excited about the opportunities ahead as our portfolio expansion empowers people around the globe to manage energy, water and gas more efficiently and drive sustainable efforts forward."
Read the full ad hoc announcement here.
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Landis+Gyr is a leading global provider of integrated energy management solutions. We measure and analyze energy utilization to generate empowering analytics for smart grid and infrastructure management, enabling utilities and consumers to reduce energy consumption. Our innovative and proven portfolio of software, services and intelligent sensor technology is a key driver to decarbonize the grid. Having avoided more than 9 million tons of CO2 in FY 2021, Landis+Gyr manages energy better – since 1896. With sales of USD 1.5 billion in FY 2021, Landis+Gyr employs around 7,500 talented people across five continents. For more information, please visit our website www.landisgyr.com.