Landis+Gyr Group AG (LAND.SW) Tuesday said that it slipped to loss in the first half of the year from last year's profit, impacted by the loss from the divestment of EMEA operations and lower reveneue. Additionally, the company also announced a $175 million share buyback program.
The Swiss company, which offers integrated energy management solutions, reported net loss attributable to Landis+Gyr Group shareholders of $189.4 million or $6.56 per share in the first half of 2025, compared to net income attributable to Landis+Gyr Group shareholders of $48.2 million or $1.67 per share in the same period last year.
During the first six months, the company's net revenue declined 16.2 percent to $535.9 million from $639.4 million recorded in the year-ago period.
According to Landis+Gyr Group, reported EBITDA for the half-year period declined to $62.6 million from $111.2 million in the first six months of last year. Adjusted EBITDA came in at $69.2 million during the period, down from $111.3 million in the corresponding period of fiscal 2024.
Looking ahead, the company updated its fiscal 2025 guidance to include the divestment of its EMEA operations. While the net revenue growth outlook is unchanged at between 5 percent and 8 percent, the Adjusted EBITDA margin outlook is lifted to between 13.0 percent and 14.5 percent of net revenue, when compared to the earlier outlook of 10.5 percent-12.0 percent range.
Separately, Landis+Gyr Group also announced a share buyback programme of up to $175 million or a maximum of 10 percent of shares outstanding to give back the net proceeds from the EMEA divestment to shareholders. The share buyback refers to a maximum of 2.89 million registered shares, the company added.
The program is expected to begin on October 29 and will run up for a period of 36 months until October 27, 2028.
On the Swiss Exchange, LAND ended Monday's trading at 61.60 Swiss francs, down 0.32 percent.
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