Brief: Landis+Gyr Group FY Net Income Down At USD 3.6 Mln

Landis+Gyr AG

05/05/2021 06:07

May 5 (Reuters) - Landis+Gyr Group AG  LANDI.S :
    * LANDIS+GYR GROUP AG - FY 2020 IMPACTED BY COVID-19 AND
WEAKNESS
IN DEMAND IN NORTH AMERICA AND EMEA RESULTING IN REVENUES OF USD
1,357.4 MILLION
    * LANDIS+GYR GROUP AG - IN H2 FY 2020, REVENUES WERE USD
733.9
MILLION, A 12.2% DECREASE YOY AND UP 17.7% FROM H1 FY 2020
    * LANDIS+GYR GROUP AG - A DISTRIBUTION OF CHF 2.10 PER SHARE
FOR
FY 2020 WILL BE PROPOSED
    * LANDIS+GYR GROUP AG - FY ORDER INTAKE WAS USD 1,298.7
MILLION
    * LANDIS+GYR GROUP AG - FY ADJUSTED EBITDA* OF USD 139.6
MILLION,
A MARGIN OF 10.3% COMPARED TO USD 237.2 MILLION WITH A MARGIN OF
14.0% IN PRIOR YEAR
    * LANDIS+GYR GROUP AG - FY 2021 GUIDANCE SHOWS 7% TO 11%
ORGANIC
GROWTH DUE TO EXPECTED COVID-19-RECOVERY IN EMEA AND MATERIAL
INVESTMENTS IN STRATEGIC INITIATIVES / BUSINESS TRANSFORMATION
    * LANDIS+GYR GROUP AG - FY NET INCOME, EXCLUDING GOODWILL
IMPAIRMENT, WAS USD 3.6 MILLION OR USD 0.13 PER SHARE, COMPARED
TO USD 113.7 MILLION OR USD 3.90 PER SHARE IN PRIOR YEAR
    * LANDIS+GYR GROUP AG - FY NET LOSS WAS USD 392.4 MILLION OR
USD
13.61 PER SHARE
    * LANDIS+GYR GROUP AG - OUTLOOK 2021: ADJUSTED EBITDA MARGIN
IS
EXPECTED TO BE BETWEEN 9.0% AND 10.5% OF NET REVENUES

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