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    LAND   CH0371153492


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Landis+Gyr Strengthens Smart Metering Core through Agreement on Acquisition of Luna

09/28/2021 | 12:57am EST

EQS Group-Ad-hoc: Landis+Gyr Group AG / Key word(s): Acquisition Landis+Gyr Strengthens Smart Metering Core through Agreement on Acquisition of Luna 28-Sep-2021 / 06:55 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement.


The planned acquisition of the Turkish meter provider Luna further solidifies Landis+Gyr's position in Smart Electricity and Water Metering.

Cham, Switzerland - September 28^th, 2021 - Landis+Gyr Group AG (SIX: LAND), a leading provider of integrated energy management solutions, today announced its subsidiary Landis+Gyr AG has entered into a binding agreement to acquire 100% of the shares of Luna Elektrik Elektronik Sanayi ve Ticaret A.S., a provider of smart metering devices for electricity, water and heat and associated software solutions, with headquarters in Izmir, Turkey, for a high double digit million US Dollar purchase price. The transaction is expected to close by the end of the calendar year 2021 with closing being subject to customary governmental approvals and other customary closing conditions.

'The acquisition of Luna offers a unique opportunity for Landis+Gyr, as it allows us to expand our core capabilities in smart metering while increasing our offering of cost-competitive solutions with well-established manufacturing capabilities in Izmir,' said Werner Lieberherr, Chief Executive Officer of Landis+Gyr. 'Luna's range of devices and software complements our portfolio and thus will allow us to expand our reach and serve our customers even better.'

Luna is the leading meter provider in Turkey and has established a strong position in engineering, certification, and manufacturing of metering solutions. With revenues of around USD 60 million and more than 850 employees, the acquisition of Luna will allow Landis+Gyr to acquire a meaningful share of the Turkish market, where the transition to Advanced Metering Infrastructure (AMI) has yet to commence, and utilize Luna's vertically integrated manufacturing to drive sales in adjacent markets. Currently, Luna exports products to numerous countries in Africa, Asia, Europe and South America. Next to low-cost solutions for markets, where Landis+Gyr currently has a limited presence, Luna also offers electricity meters for Germany, where it has established a foreign sales entity.

'Our mission is to create value for our employees and customers as the first choice partner with our products, solutions, after-sales services, reliability and high business ethics', stated Mustafa Karabagli, Chairman of the Board at Luna Elektrik Elektronik Sanayi ve Ticaret A.S. 'We are happy and excited to join Landis+Gyr and look forward to supporting even more customers on their journey towards a smarter grid with our product portfolio and cost-effective solutions.'

After the closing, the current management team will continue to drive Luna's market expansion and profitable growth as part of the Landis+Gyr group.

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 more than 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.

About Luna Elektrik Elektronik Sanayi ve Ticaret A.S. Having started its operations in 1991, Luna is a leading smart electricity and water meter supplier, providing high quality advanced metering technology inside and outside of Turkey. With a production capacity of more than 400,000 smart meters per month and more than 850 employees, Luna is one of the Research and Development Centers registered by the Turkish government. For more information, please visit www.lunatr.com.

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


End of ad hoc announcement


Language:     English 
Company:      Landis+Gyr Group AG 
              Alte Steinhauserstrasse 18 
              6330 Cham 
E-mail:       ir@landisgyr.com 
Internet:     www.landisgyr.com 
ISIN:         CH0371153492 
Valor:        37115349 
Listed:       SIX Swiss Exchange 
EQS News ID:  1236337 
End of Announcement EQS Group News Service 

1236337 28-Sep-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1236337&application_name=news

(END) Dow Jones Newswires

September 28, 2021 00:56 ET (04:56 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
LANDIS+GYR GROUP AG -0.17% 59.9 Delayed Quote.-13.54%
SMART METERING SYSTEMS PLC 0.25% 803 Delayed Quote.12.66%
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Financials (USD)
Sales 2022 1 523 M - -
Net income 2022 50,6 M - -
Net Debt 2022 117 M - -
P/E ratio 2022 36,6x
Yield 2022 3,48%
Capitalization 1 865 M 1 866 M -
EV / Sales 2022 1,30x
EV / Sales 2023 1,16x
Nbr of Employees 5 000
Free-Float 88,8%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 64,69 $
Average target price 72,88 $
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Werner Lieberherr Chief Executive Officer
Elodie Cingari Chief Financial Officer & Executive Vice President
Andreas Vicente Umbach Executive Chairman
Eric A. Elzvik Lead Independent Director
Andreas Stanley Spreiter Independent Director
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