Welcome to our dedicated page for Landis Gyr Group news (Ticker: LDGYY), a resource for investors and traders seeking the latest updates and insights on Landis Gyr Group stock.
Landis+Gyr reports developments in integrated energy management solutions for utilities and grid operators. Company news commonly covers advanced metering infrastructure, grid edge sensing, energy data analytics, and software and services used for smart grid and infrastructure management.
Recurring updates include utility contracts for Gridstream Connect, Revelo grid sensors, cellular and RF Mesh IP communications, Wi-SUN network equipment, and partnerships that extend grid edge intelligence into homes, distributed energy resources, and critical infrastructure networks. News also covers product certifications, open-standard interoperability, cybersecurity and network-performance validation, and deployments that support outage response, energy information access, distribution automation, and two-way power-flow management.
Landis+Gyr (OTC-PINK: LDGYY, SIX: LAND) has signed a contract with EPCOR Water to implement advanced metering infrastructure (AMI) for approximately 270,000 water meters in Edmonton. The contract encompasses RF Mesh Series 5 water modules, software upgrades, and enhanced network security, utilizing the existing RF mesh network that supports 435,000 electric meters. The project, which aims to enhance leak detection and monitoring capabilities, is expected to be completed by the end of 2025. This implementation is part of Landis+Gyr's Gridstream® Connect platform, which connects intelligent devices and optimizes resource management.
Landis+Gyr (SIX: LAND) has entered into a significant agreement with EPCOR Water to deploy Advanced Metering Infrastructure (AMI) technology for approximately 270,000 water meters in Edmonton. This contract involves the installation of RF Mesh Series 5 water modules and software enhancements, which will utilize EPCOR's existing RF mesh network that supports around 435,000 electric meters. The project is anticipated to be completed by the end of 2025.
The Gridstream® Connect platform not only enables efficient water resource monitoring but also supports advanced features such as leak detection and tamper alerts. Landis+Gyr aims to enhance EPCOR's service delivery and operational efficiency through this partnership, as stated by VP Chuck Yechout.
Landis+Gyr Group AG (LDGYY) held its Capital Markets Day in Zürich on January 31, 2023, announcing mid-term financial targets for 2025. The company anticipates mid to high single-digit growth and an Adjusted EBITDA of 12% to 14%, while maintaining a progressive dividend policy. The strategy focuses on Smart Metering, Grid Edge Intelligence, and Smart Infrastructure, shifting the portfolio for enhanced analytics. With a strong balance sheet, Landis+Gyr plans continued investments and aims for a 42% reduction in Scope 1, 2, and 3 emissions by 2030. The partnership with Google is expected to enhance their
Landis+Gyr's subsidiary, Etrel, partners with ON Power to enhance EV charging services in Iceland utilizing the OCEAN charge point management system. This collaboration aims to address the rapid growth of electric vehicle registrations in Iceland, which surpassed 60% of new car registrations in 2022. The OCEAN platform supports a scalable and flexible charging infrastructure, allowing ON Power to improve user experience and operational efficiency. This strategic move positions ON Power to meet escalating market demands as it continues to expand its EV charging network, which has been operational since 2014.
Etrel, a Landis+Gyr company, has partnered with ON Power to scale EV charging services in Iceland using the OCEAN charge point management system. This collaboration aims to meet the rising demand for electric vehicle infrastructure, with EV registrations exceeding 60% of new cars in 2022. The OCEAN software is a flexible platform that allows management of various charging locations through a cloud-based solution. As part of the rollout, ON Power will also integrate OCEAN with its ERP and CRM systems to enhance operational efficiency.
Landis+Gyr has joined the LOT Network, an initiative designed to protect companies from patent litigation by patent assertion entities (PAEs). This membership allows Landis+Gyr to focus on its innovative energy management solutions rather than on legal battles. The company, with over 125 years of expertise, has invested around 11% of revenues into R&D for advanced smart infrastructure. The strategic partnership with Google Cloud enhances their electric vehicle software capabilities, positioning them as a leader in sustainable energy management.
Landis+Gyr has unveiled a new range of recyclable smart ultrasonic water meters and advanced solutions for e-mobility at the Enlit Europe conference in Frankfurt from November 29 to December 1, 2022. The new water meters, W270 and W370, are designed to last over 15 years and feature IoT technology for enhanced data collection. The company also showcased its electric vehicle chargers, INCH Pro and INCH Duo, which optimize energy use and support grid resilience. With a focus on decarbonization and efficient energy management, Landis+Gyr continues to innovate in smart infrastructure.
Landis+Gyr's Revelo® meter has received approval from the New York Public Service Commission for electric metering applications. Following extensive testing, the meter complies with accuracy and reliability standards, making it a key component in New York's transition to a smart energy infrastructure. National Grid plans to deploy approximately 1.7 million electric meters and 640,000 smart gas meter modules. The Revelo technology enables real-time energy monitoring, enhancing operational efficiency and consumer data access.
Kajave, a Finnish distribution network operator, has successfully connected its Landis+Gyr AIM system to Finland's national Datahub using the Datahub Connector (DHC), enhancing efficiency and reducing operational costs. This integration simplifies access to metering data for over 3.7 million electricity points, facilitating faster supplier switches, which occur 400,000 times annually in Finland. The change eliminates the need for a redundant MDM system, streamlining processes for Kajave's service area of 60,000 customers and improving data availability and accuracy.
Landis+Gyr announced its H1 FY 2022 financial results, revealing a solid order intake of USD 773.2 million and a record-high backlog of USD 3,479.7 million, a 7.5% increase year-over-year. Net revenues rose 10.3% to USD 728.7 million despite supply chain challenges. However, adjusted EBITDA decreased by 31.2% to USD 48.7 million due to rising costs. Net income stood at USD 186.5 million with a diluted EPS of USD 6.57. Free cash flow was negative at USD (38.9) million due to inventory buildup, but FY 2022 guidance remains confirmed with expectations of a volume increase.