Sustainability Report Landis+Gyr also issued its 2020/21 Sustainability Report on the Company's website today (www.landisgyr.com/about/ corporate-social-responsibility/). The report provides a detailed overview of the Group's Environmental, Social and Governmental (ESG) initiatives. Highlights include the introduction of a Green Design Manual for all new designs or redesigns and the launch of an Eco-Portfolio, which includes a set of ESG criteria to be met by Landis+Gyr's products. During the reporting period, Landis+Gyr enabled 8.5 million tons of direct CO[2] emission avoidance through the installed smart meter base. Furthermore, supported by the effects of the pandemic, Landis+Gyr reduced its own CO[2] emissions by 47%, water consumption by 12%, chemicals by 26% and waste by 27% YoY.

The Company exceeded its Short-Term-Incentive-linked ESG targets for FY 2020 and has taken the decision to increase the number of targets from three to eleven and the ESG component weight as part of the Short-Term-Incentive for all bonus-eligible employees from 10% to 20%. Furthermore, Landis+Gyr set up a COVID-19 fund, consisting of the 10% voluntary Board of Directors and Executive Management's salary reduction in FY 2020, to provide financial relief, medical care and vaccines to its staff and their relatives in India.

"Our strategic vision is driven by the desire to provide unrivaled customer value as the leading partner for integrated energy and resource management solutions with sustainability at the heart of everything we do," said Werner Lieberherr, Chief Executive Officer of Landis+Gyr. "Holding ourselves to very high standards, we are committed to the principles defined in the UN Global Compact as the foundation of our efforts to establish a culture of integrity and to act responsibly - today and tomorrow."

Outlook for FY 2021 Landis+Gyr confirms its guidance for FY 2021 provided in May 2021 with 7-11% organic net revenue growth, an Adjusted EBITDA margin between 9.0-10.5% and a Free Cash Flow (excl. M&A) of between USD 80-100 million, but expects results at the lower end of the guided ranges due to the ongoing constrained supply chain situation. The company expects the negative financial impact from the supply chain situation to increase in H2 compared to H1 of FY 2021.

Mid-term targets through FY 2023, communicated during the Capital Markets Day in January 2021, are confirmed and the share buyback program, which expires in January 2022, remains suspended.

The H1 FY 2021 earnings presentation, which forms part of this ad hoc announcement, is available on the Company's website at www.landisgyr.com/investors/results-center/.

Investor Webcast and Telephone Conference The management of Landis+Gyr will host an investor/analyst call to discuss the Company's results.

Date and time: October 28^th, 2021 at 10:00 am CET

Speakers: Werner Lieberherr, Chief Executive Officer

Elodie Cingari, Chief Financial Officer

Audio webcast: www.landisgyr.com/investors/results-center/

Telephone: Europe: +41 (0)58 310 5000

UK: +44 (0)207 107 0613

US: +1 (1)631 570 5613

Please dial in 10 minutes before the start of the presentation and ask for 'Landis+Gyr's first half year results 2021'.

Contact Media Melissa van Anraad Head of PR Phone +41 41 935 6398 Melissa.vanAnraad@landisgyr.com

Eva Borowski SVP Investor Relations & Corporate Communications Phone +41 41 935 6396 Eva.Borowski@landisgyr.com

Contact Investors Christian Waelti Head of Investor Relations Phone +41 41 935 6331 Christian.Waelti@landisgyr.com

Key dates 


Release of Results for Financial Year 2021                   May 5^th, 2022 
Publication of Annual Report 2021 and Invitation to AGM 2022 May?30^th, 2022 
Annual General Meeting 2022                                  June?24^th, 2022 
Release of Half Year Results 2022                            October 26^th, 2022

About Landis+Gyr Landis+Gyr is a 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 1.4 billion in FY 2020, Landis+Gyr employs around 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better. For more information, please visit our website www.landisgyr.com.

Disclaimer This ad hoc announcement and information referred to herein contains (a) preliminary, unaudited numbers that may be subject to change and (b) information regarding alternative performance measures or non USGAAP measures, such as Reported EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Research and Development, Adjusted Sales, General and Administrative, and Adjusted Operating Expenses. Definitions of these measures and reconciliations between such measures and their USGAAP counterparts if not defined in this release may be found on pages 28 to 30 of the Landis+Gyr Half Year Financial Report Fiscal Year 2021 on our website at www.landisgyr.com/investors.

Forward-looking Information This ad hoc announcement includes forward-looking information and statements, including statements concerning the outlook for Landis+Gyr Group AG's (hereinafter also the 'Company' or 'Landis+Gyr') businesses. These statements are based on current expectations, estimates and projections about the factors that may affect the Company's future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for Landis+Gyr. These expectations, estimates and projections are generally identifiable by statements containing words such as 'expects', 'believes', 'estimates', 'targets', 'plans', 'outlook', 'guidance' or similar expressions. There are numerous risks, uncertainties and other factors, many of which are beyond Landis+Gyr's control, that could cause the Company's actual results to differ materially from the forward-looking information and statements made in this presentation and which could affect the Company's ability to achieve its stated targets. The important factors that could cause such differences include, among others: the duration, severity and geographic spread of the COVID-19 pandemic, government actions to address or mitigate the impact of the COVID-19 pandemic, and the potential negative impacts of COVID-19 on the global economy, the Company's operations and those of its customers and suppliers; global shortage of supplied components as well as increased freight rates, business risks associated with the volatile global economic environment and political conditions; costs associated with compliance activities; market acceptance of new products and services; changes in governmental regulations and currency exchange rates; estimates of future warranty claims and expenses and sufficiency of accruals; and other such factors as may be discussed from time to time in Landis+Gyr filings with the SIX Swiss Exchange. Although Landis+Gyr believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

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* For a reconciliation of non-GAAP measures, see chapter 'Supplemental Reconciliations and Definitions (unaudited)' in this ad hoc announcement.

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End of ad hoc announcement

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Language:     English 
Company:      Landis+Gyr Group AG 
              Alte Steinhauserstrasse 18 
              6330 Cham 
              Switzerland 
E-mail:       ir@landisgyr.com 
Internet:     www.landisgyr.com 
ISIN:         CH0371153492 
Valor:        37115349 
Listed:       SIX Swiss Exchange 
EQS News ID:  1244189 
 
End of Announcement EQS Group News Service 
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1244189 28-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1244189&application_name=news

(END) Dow Jones Newswires

October 28, 2021 00:57 ET (04:57 GMT)