Zug, Switzerland, October 29th / PRNewswire / -- Landis + Gyr Group AG ( SIX : LAND ) Today, the company announced its unaudited financial results for the second quarter and the first half of the fiscal year 2026, which ended on September 30, 2026. This company is a global leader in energy technology, driving innovation in smart grid systems.

Second Quarter of Fiscal Year 2026

• Net revenue was $269.2 million, with the adjusted gross margin reaching a record high of 38.0%. The order volume for that quarter was $170.3 million.

First half of fiscal year 2026

• The order amount is 337.3 million US dollars, the order fulfillment ratio is 0.7 times, and there are backlogged orders totaling 3.7 billion US dollars.
• In October, at the end of the first half of the year, the company secured a major contract, resulting in an order value of $509 million.
• Net revenue was $501.4 million, a year-on-year decrease of 6.3%, due to changes in the project handover timing.
• After adjustment, gross profit increased by 4.0% to $189.2 million, and the gross margin expanded by 370 basis points to 37.7%.
• After adjustment, EBITDA increased by 3.5% to $73.9 million, with a corresponding profit margin of 14.7%, an increase of 140 basis points.
• Operating income from continuing operations amounted to $51.1 million, diluted to $1.84 per share, representing a growth of 268% compared to the previous year.
• Operating cash flow amounted to 74 million US dollars, and the company continues to focus on working capital management.

Strategic Initiatives and Prospects

• The company stated that in October, it completed the return of $175 million to shareholders through stock repurchases, a move that was announced simultaneously with the EMEA divestiture transaction.
• The company continues to advance its listing in the United States while maintaining its listing status in Switzerland.
• Update for the 2026 fiscal year guidance: The net revenue range has been narrowed to $1.085 billion to $1.115 billion, while the adjusted EBITDA profit margin has been raised to 15.0% to 16.0%.

Landis + Gyr CEO Peter Mainz stated: "Our revenue performance in the first half of fiscal year 2026 met expectations, reflecting the transition period between two major customer deployments. Our ongoing focus on operational excellence led to a record adjusted gross margin in the second quarter." He mentioned that the company continues to advance its strategic transformation and has fulfilled its commitment to return the proceeds from the divestiture of EMEA to shareholders. "In recent months, we have also made further progress in preparing for our listing in the United States."

Landis + Gyr Chief Financial Officer Davinder Athwal stated: "We expect a strong performance in the second half of fiscal year 2026, thanks to the accelerated deployment of new customers and the continuous improvement in profitability, which is also reflected in our upward adjustment of the EBITDA profit margin guidance to 15% to 16%."

For the complete temporary announcement, please refer to here.

Regarding Landis + Gyr

Landis + Gyr is a global leader in energy technology, providing intelligent solutions that connect devices, data, and decision-making within power grids. The company claims that over 2,000 utility customers worldwide rely on its products and services. It transforms traditional equipment into smart, networked sensors, offering utilities real-time visibility into their grids and system control. With these comprehensive insights, power, gas, and water companies are able to predict demand, optimize operations, and provide everyone with more reliable, resilient, accessible, safer, and more sustainable energy.