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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Landis+Gyr Group AG    LAND   CH0371153492

LANDIS+GYR GROUP AG

(LAND)
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Landis+Gyr : EN – May 28, 2020 – Landis+Gyr publishes Annual Report 2019 and Invitation to AGM 2020

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05/28/2020 | 01:03am EDT

Media Release

Landis+Gyr publishes Annual Report 2019 and Invitation to

AGM 2020

Zug, Switzerland. - May 28, 2020 - Landis+Gyr (LAND.SW) today published its Annual Report 2019 which is available on the company's website (www.landisgyr.com/investors/results-center/). The report provides comprehensive information about the Group's business and financial performance, corporate governance and remuneration in financial year 2019 (April 1, 2019 - March 31, 2020).

In addition, Landis+Gyr today issued the invitation to the Annual General Meeting to be held virtually on June 30, 2020 which is available on the company's website (www.landisgyr.com/investors/annual- general-meeting/). In line with the COVID-19 Ordinance 2 of the Swiss Federal Council the Annual General Meeting will be held without the physical presence of the shareholders and voting rights can only be exercised through the independent proxy.

As communicated on May 6, 2020, the Board of Directors, as a precautionary measure due to the uncertainties surrounding the COVID-19 pandemic and the current business environment, will not propose a dividend to the Annual General Meeting. Rather, the Board has decided to defer the decision on the FY 2019 dividend and intends to revisit the situation in conjunction with the release of the results of the first half year ending September 2020. By taking this measure, Landis+Gyr further strengthens an already robust level of liquidity, adding support to the company's overall financial position in view of the uncertainties stemming from the present crisis. A further announcement will be made at the time of the release of the Group's first half FY 2020 results on October 28, 2020. The Board of Directors therefore proposes to carry forward the results for the financial year 2019 to the new account.

Also proposed on the meeting agenda are approval items for both conditional and authorized capital, which when combined may not exceed 2,890,894 registered shares (corresponding to a 10% cap). Furthermore, the Group proposes to cancel 342,305 shares bought under the suspended share buyback program through April 30, 2020.

All current members of the Board of Directors will stand for re-election for another one-year term.

Contact

Stan March

Phone +1 678 258 1321

Stan.March@landisgyr.com

Christian Waelti

Phone +41 41 935 6331

Christian.Waelti@landisgyr.com

Media Release

Key dates

Annual General Meeting 2020

June 30, 2020

Release of Half Year Results 2020

October 28, 2020

Release of Sustainability Report

October 28, 2020

Capital Markets Day

January 27, 2021

Release of Results for Financial Year 2020

May 5, 2021

Publication of Annual Report 2020 and Invitation to AGM 2021

May 28, 2021

About Landis+Gyr

Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in smart metering, grid edge intelligence and smart infrastructure. With sales of USD 1.7 billion, Landis+Gyr employs approximately 5,800 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.

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Disclaimer

Landis&Gyr Group AG published this content on 28 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 May 2020 05:02:03 UTC

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Financials (USD)
Sales 2021 1 520 M - -
Net income 2021 66,9 M - -
Net Debt 2021 24,8 M - -
P/E ratio 2021 28,1x
Yield 2021 3,66%
Capitalization 1 902 M 1 905 M -
EV / Sales 2020
EV / Sales 2021 1,27x
Nbr of Employees 5 611
Free-Float 88,3%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 70,60 $
Last Close Price 64,53 $
Spread / Highest target 40,3%
Spread / Average Target 9,41%
Spread / Lowest Target -8,94%
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Managers
NameTitle
Werner Lieberherr Chief Executive Officer
Jonathan Elmer Chief Financial Officer & Executive Vice President
Eric A. Elzvik Lead Independent Director
Andreas Stanley Spreiter Independent Director
Pierre-Alain Graf Independent Director
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