Business · Companies · 9 hrs ago
Landis+Gyr lifts margin outlook as half-year revenue falls
Swiss electricity meter maker Landis+Gyr reported lower revenue but higher profit measures for the six months from April to September 2026.
Revenue fell 6.3% to $501.4 million after the sale of its EMEA business and a gap between an ending project and new work.
Its adjusted gross margin reached a record 37.7% for a half year, which the company attributed to efficiency improvements and a favorable product mix.
The order backlog was $2.72 billion at the end of September, down 6.5% from a year earlier, but a $509 million order booked in October was not included in that figure.
Profit from continuing operations rose to $51.1 million, more than three times the previous level.
Landis+Gyr raised its full-year adjusted EBITDA margin target to 15%–16% and narrowed its revenue forecast to $1.085 billion–$1.115 billion.
It is also preparing for a US stock listing and said it would provide an update in due course.
Landis+Gyr raised its adjusted EBITDA margin outlook for 2026/27 while reporting lower revenue for the first half.
Revenue fell 6.3% to $501.4 million in the six months from April to September.
The company said a gap between a finishing project and new projects contributed to the revenue decline.
Adjusted EBITDA rose 3.5% to $73.9 million, and its margin increased to 14.7% from 13.3%.
Landis+Gyr now expects an adjusted EBITDA margin of 15% to 16% for 2026/27, up from its previous forecast of 14.5% to 15.5%.
- Who
- Landis+Gyr, the electricity meter producer.
- What
- It reported lower first-half revenue and raised its adjusted EBITDA margin outlook for 2026/27.
- When
- The reported period ran from April to September 2026. The company announced the results on October 29, 2026.
- Where
- Not stated.
- Why
- Revenue fell because of a gap between a finishing project and new projects. The company attributed improved profitability to operational efficiency gains and a favorable product mix.
This story does not have two clearly opposing sides.
Landis+Gyr recorded revenue of $501.4 million, down 6.3% from the prior-year period.
The company reported an order backlog of $2.72 billion, 6.5% lower than a year earlier.
Landis+Gyr booked a $509 million order after the reporting period ended.
The company announced its half-year results and revised its margin outlook.
- First-half revenue
- $501.4 million, down 6.3%
- Adjusted EBITDA
- $73.9 million, up 3.5%
- Adjusted EBITDA margin
- 14.7%, compared with 13.3% a year earlier
- New 2026/27 margin outlook
- 15% to 16%
- Order backlog at September 30, 2026
- $2.72 billion
What people are saying
in due course