CHAM, Switzerland, Oct. 29, 2026 /PRNewswire/ -- Landis+Gyr Group AG (SIX: LAND), a global energy technology leader driving intelligent innovation across the grid, today announced unaudited financial results for its second quarter and the first half FY 2026 ended September 30, 2026.

Q2 FY 2026

Net revenue of $269.2 million with a record adjusted gross margin* of 38.0% and an order intake of $170.3 million achieved in the quarter

First Half FY 2026

Order intake of $337.3 million, representing a book-to-bill ratio of 0.7x, with a backlog of $3.7 billion
Major contract award post H1 close in October resulting in $509 million order intake
Net revenue of $501.4 million, a decrease of 6.3% year-over-year, driven by project transition timing
Adjusted gross profit* increased 4.0% to $189.2 million, with gross margin expanding 370 basis points to 37.7%
Adjusted EBITDA* grew 3.5% to $73.9 million, corresponding to a margin of 14.7%, up 140 basis points
Income from continuing operations of $51.1 million or $1.84 per share (diluted), an increase of 268%
Operating Cash Flow of $74.0 million with continued focus on working capital management

Strategic Initiatives and Outlook

Completed in October the return of $175 million to shareholders through share repurchases as announced with the EMEA divestment
Continued progress toward a U.S. listing while retaining the Swiss listing
Updated FY 2026 guidance: narrowing the net revenue range to between $1,085 and $1,115 million while raising adjusted EBITDA margin to between 15.0% and 16.0%

"Our first half FY2026 top-line performance was in line with expectations and reflected the timing of transition between two major customer deployments, while our continued focus on operational excellence resulted in a record adjusted gross margin in the second quarter," said Peter Mainz, Chief Executive Officer of Landis+Gyr. "We continue to execute on our strategic trans-formation and returned the proceeds from the EMEA divestment to our shareholders as prom-ised. In recent months we also made further progress in our preparations toward a U.S. listing."

Davinder Athwal, Chief Financial Officer of Landis+Gyr, commented: "We expect a strong second half of FY 2026, supported by the ramp-up of new customer deployments and continued improvements in profitability, as reflected in our increased adjusted EBITDA margin guidance of 15% to 16%."

Read the full ad hoc announcement here.

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

About Landis+Gyr

Landis+Gyr is a global energy technology leader, delivering intelligent solutions that connect devices, data, and decisions across the grid. Trusted by more than 2,000 utilities worldwide, we transform traditional devices into intelligent, networked sensors, giving utilities real-time grid visibility and system control. With these combined insights, electric, gas, and water companies can anticipate demand, optimize operations, and deliver energy that's more reliable, resilient, accessible, safe, and sustainable for everyone. For more information, please visit our website www.landisgyr.com.

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