LDGYY - Landis+Gyr Group AG GAAP EPS of $6.57 revenue of $728.7M misses by $1.3M

October, 27 2022 03:45 AM Landis+Gyr Group AG ADS

Landis+Gyr Group AG press release ( OTCPK:LDGYY ): 1H GAAP EPS of $6.57.
Revenue of $728.7M (+4.0% Y/Y) misses by $1.3M .
Sustained solid order intake of $773.2M corresponding to a book-to-bill ratio of 1.06.
Committed backlog at record-high level of $3,479.7M, up 7.5% Y/Y.
Adjusted EBITDA declined 31.2% to $48.7M equivalent to a margin of 6.7% due to higher supply chain cost, and USD strength.
Confirmation of FY 2022 guidance with expected significant volume ramp up in H2 as supply chain situation is expected to start easing
"Barring any unforeseen circumstances, Landis+Gyr confirms its guidance for FY 2022 provided in May 2022 with net revenue growth in FY 2022 of between 6% and 10% including FY 2021 acquisitions. As announced earlier, Landis+Gyr will continue to make significant additional strategic transformation investments of approximately 2% of net revenues in FY 2022. Together with higher expected cost from supply chain and cost inflation, the Adjusted EBITDA margin for FY 2022 is expected to be between 5% and 8% of net revenues. Due to higher operating working capital needs, the Free Cash Flow (excluding M&A) for FY 2022 is expected to come in towards the lower end of the guided range of between USD 30 million and USD 60 million."

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