Brief: Landis+Gyr Group H1 Net Revenues Down At USD 623.5 Mln

Landis+Gyr AG

28/10/2020 06:08

Oct 28 (Reuters) - LANDIS+GYR GROUP AG  LANDI.S :
    * H1 NET REVENUES OF USD 623.5 MILLION, A DECREASE OF 27.1%
IN
CONSTANT CURRENCY YEAR-OVER-YEAR (YOY)
    * H1 ORDER INTAKE USD 456.9 MILLION
    * H1 COMMITTED BACKLOG DOWN 17.2% YOY TO USD 2.1 BILLION
    * H1 ADJUSTED EBITDA* OF USD 50.1 MILLION, A MARGIN OF 8.0%
COMPARED TO 14.5% IN H1 FY 2019;
    * H1 ADJUSTED OPERATING EXPENSES* REDUCED BY USD 32.2
MILLION YOY
    * H1 NET LOSS WAS USD 2.0 MILLION, INCLUDING RESTRUCTURING
COSTS
OF USD 15.4 MILLION; LOSS PER SHARE WAS USD 0.07
    * H1 NET CASH WAS USD 12.1 MILLION COMPARED TO NET DEBT OF
USD
99.4 MILLION AT THE END OF H1 FY 2019
    * A DISTRIBUTION OF CHF 2.00 PER SHARE FOR FY 2019 WILL BE
PROPOSED AT AN EXTRAORDINARY GENERAL MEETING ON NOVEMBER 24TH,
2020
    * AN UPDATE ON THE REVENUE & MARGIN OUTLOOK FY 2020 IS BEING
PROVIDED, BUT REMAINS SUBJECT TO ONGOING COVID-19 DEVELOPMENTS
    * EXPECTS NET REVENUE BETWEEN USD 1.3 BILLION AND USD 1.4
BILLION
FOR FY 2020
    * WITH HIGHER MARGINS IN H2 COMPARED TO H1 FY 2020, GIVEN
IMPROVED
OPERATIONAL LEVERAGE

Source text - https://bit.ly/3mt2aH1
Further company coverage:  LANDI.S 

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