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Landis+Gyr Financial Performance: Full Year Review

Landis+Gyr Financial Performance: Full Year Review

Wed, May 8th 2024

Landis+Gyr unveils FY 2023 results with record revenues and strategic investments positioning for future growth.

KEYSTONE/Gaetan Bally

Landis+Gyr, the Swiss-based integrated energy management solutions firm, announced impressive unaudited financial results for FY 2023, marking a period of strong growth. The company saw its net revenues increase by 15.6% year-over-year in constant currency, reaching a new high of USD 1,963.0 million. This growth was primarily driven by improved component availability and robust demand conversion, leading to a record revenue figure.

The company’s Adjusted EBITDA also saw a remarkable increase of 60%, amounting to USD 223.9 million. This surge is attributed to effective operating leverage and a steady recovery in supply chain costs, underscoring Landis+Gyr’s operational resilience and efficiency.

The financial year closed with a net income of USD 110.0 million, demonstrating a substantial improvement from the previous year.

During FY 2023, Landis+Gyr made significant strategic investments, particularly in Brusa Elektronik in Switzerland and SPAN.io in the USA, enhancing its comprehensive solutions for energy management and grid resilience.

Looking ahead to FY 2024, Landis+Gyr anticipates low single-digit revenue growth and an Adjusted EBITDA margin between 11% and 13%.

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