Page 7 - Landis+Gyr | Company Profile 2013 - 14

Landis+Gyr Group Landis+Gyr ended the year with a record-high order backlog while generating lower sales in 2013/14. Looking forward, the Group is confident sales will rebound thanks to the new tech- nology agreements and major contracts signed during the year. “By building on the strength of our technology portfolio we will play a key role in many of the upcoming Substantially Increased Order Intake Smart Meter rollouts worldwide as markets and In its financial year ending March 31, 2014, Landis+Gyr, demand pick up.” an independent growth platform within the Toshiba Group, achieved sales of USD 1.539 billion (2012/13: USD 1.669 billion). Given the challenging global envi- Andreas Umbach, ronment characterized by certain regional market President and Chief Executive Officer slowdowns, continued budget constraints in the pub- lic sector and structural change in connection with the substitution of fossil fuels by renewable energy sources, the overall market experienced a significant contraction. Landis+Gyr was unable to escape this general trend as sales fell 7.8 %, primarily due to the postponement of Smart Metering projects previously project delays in Australia and the completion of planned for the reporting period. Sales in the Ameri- a Smart Metering rollout in Victoria. Nevertheless, the cas and EMEA regions tracked the broader market number of meter devices produced and delivered decline, whereas sales in Asia Pacific decreased by increased slightly to 17,381,000 units in 2013/14 23.7 % compared to the previous year, mainly as a (2012/13: 17,273,000; + 0.6 %). Delays in various Ad- result of a general contraction in the Advanced Meter- vanced Metering projects resulted in a shift of the ing Infrastructure (AMI) sector as well as several product mix away from bidirectional communicating smart devices. Even though the Company suffered this temporary setback in the 2013/14 financial year, Landis+Gyr is looking to the future with confidence and expects to regain business momentum and revitalize its top- line performance. This guidance is underpinned by the highest-ever year-end order backlog. It reached 7 |