1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Landis+Gyr Group AG
  6. News
  7. Summary
    LAND   CH0371153492

LANDIS+GYR GROUP AG

(LAND)
  Report
Delayed Swiss Exchange  -  05/27 11:31:37 am EDT
55.80 CHF   +2.10%
05/23Landis+Gyr to Showcase Latest Grid Edge Intelligence and Smart Infrastructure Technology at DISTRIBUTECH
CI
05/06Landis+Gyr Plans Acquisition
CI
05/05TRANSCRIPT : Landis+Gyr Group AG, Q4 2022 Earnings Call, May 05, 2022
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Landis+Gyr : divests stake in Intellihub joint venture

12/20/2021 | 01:00am EDT

Cham, Switzerland and Sydney, Australia - December 20th, 2021 - Landis+Gyr Group AG (SIX: LAND), a leading provider of integrated energy management solutions, today announced that its subsidiary Landis+Gyr Pty Ltd. has entered into an agreement to sell its ownership in Intellihub Operations Pty Ltd ("Intellihub") for over AUD 310 million in total.

The buyer, global asset manager Brookfield will become a strategic investor in Intellihub Group, the smart utility infrastructure-as-a-service company, alongside Pacific Equity Partners' (PEP) Secure Assets Fund. Brookfield will acquire Landis+Gyr's 16.8% interest in the company, diluted from approximately 20% after the conversion of a previously issued convertible note during the course of the transaction. The transaction is subject to various closing conditions, and once the transaction is completed, Intellihub will be jointly owned by Brookfield Infrastructure and PEP.

"The investment in Intellihub has been a great success for Landis+Gyr and we believe that Brookfield's investment in Intellihub comes at an appropriate time in the energy transition that Australasia is undergoing. While we look forward to continuing to partner with Intellihub as a customer in the future, we are focusing our efforts on the expansion of our position in smart infrastructure, grid edge intelligence and smart metering solutions and services", said Werner Lieberherr, Chief Executive Officer Landis+Gyr. "The proceeds of the sale will be reinvested in both organic and inorganic strategic growth areas to drive the decarbonization of the grid and empower utilities and consumers around the world to manage energy better."

In financial year 2020, Landis+Gyr had extended its supply contract with Intellihub until 2026, ensuring smart meter supply continues across their Australia and New Zealand meter provision business.

The Intellihub joint venture was formed in May 2018, with Landis+Gyr contributing both cash and its 2015 established Intellihub business for an approximate 20% stake in the joint venture.

Landis+Gyr expects the cash proceed for the transaction of over USD 220 million, at the time of closing, to be partially offset by capital gain tax in Australia and stamp duty in Switzerland.

The transaction is expected to close by the end of February 2022.

Contact Media

Melissa van Anraad
Head of PR
Phone +41 41 935 63 98
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

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.

Disclaimer

Landis&Gyr Group AG published this content on 20 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2021 05:59:07 UTC.


© Publicnow 2021
All news about LANDIS+GYR GROUP AG
05/23Landis+Gyr to Showcase Latest Grid Edge Intelligence and Smart Infrastructure Technolog..
CI
05/06Landis+Gyr Plans Acquisition
CI
05/05TRANSCRIPT : Landis+Gyr Group AG, Q4 2022 Earnings Call, May 05, 2022
CI
05/05Landis+Gyr Swings To FY22 Profit On Revenue Growth; Board Ups Dividend
MT
05/05Landis+Gyr Announces FY 2021 Financial Results
EQ
05/05Landis+Gyr Group AG Announces Resignation of Dave Geary as Member of the Board of Direc..
CI
05/05Landis+Gyr Group Ag Proposes Dividend
CI
05/05Landis+Gyr Group Ag Provides Earnings Guidance for Fiscal Year 2022
CI
05/04Landis+Gyr Applauded by Frost & Sullivan for Offering Customer Value Additions and Tech..
AQ
04/25LANDIS+GYR : Publication of FY 2021 Financial Results – Investor Webcast / Conferenc..
PU
More news
Analyst Recommendations on LANDIS+GYR GROUP AG
More recommendations
Financials (USD)
Sales 2022 1 482 M - -
Net income 2022 87,1 M - -
Net Debt 2022 86,0 M - -
P/E ratio 2022 22,1x
Yield 2022 3,81%
Capitalization 1 682 M 1 682 M -
EV / Sales 2022 1,19x
EV / Sales 2023 1,12x
Nbr of Employees 6 500
Free-Float 88,9%
Chart LANDIS+GYR GROUP AG
Duration : Period :
Landis+Gyr Group AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LANDIS+GYR GROUP AG
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 58,35 $
Average target price 66,48 $
Spread / Average Target 13,9%
EPS Revisions
Managers and Directors
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
Sector and Competitors
1st jan.Capi. (M$)
LANDIS+GYR GROUP AG-11.50%1 640
KYOCERA CORPORATION-8.76%2 583 010
TDK CORPORATION-12.57%1 633 467
KEYENCE CORPORATION-31.67%94 062
SCHNEIDER ELECTRIC SE-27.42%74 551
EATON CORPORATION PLC-22.42%54 376