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Visit the BlogCham, Switzerland / Alpharetta, GA, USA – July 28, 2026
Landis+Gyr Group AG (SIX: LAND), a global energy technology leader driving intelligent innovation across the grid, today issued a trading update for its first quarter (April 1 – June 30, 2026) of the financial year 2026 ending March 31, 2027.
In this release, the Group's financial results are presented for the first time under the new reporting segmentation announced at the 2026 Capital Markets Day, with comparative figures restated accordingly and are unaudited.
Group | Q1 FY 2026 | Q1 FY 2025 | Change |
Order intake | 167.0 | 171.7 | (2.7%) |
Net revenue | 232.3 | 249.1 | (6.8%) |
Adjusted gross profit margin (in %) | 37.4% | 34.6% | 280bps |
Adjusted gross profit | 87.0 | 86.2 | 1.0% |
“In Q1 FY 2026, our business performed in line with expectations, and pipeline activity remained very strong. While the anticipated deployment timing affected net revenue, we delivered on significantly improving the profitability of our business and are operating in our new segment structure,” said Peter Mainz, Chief Executive Officer of Landis+Gyr. “Following the successful closing of the EMEA transaction, we intend to accelerate our share buyback through a fixed-price offer to return the proceeds to our shareholders. At the same time, we continue to advance our preparations for a U.S. listing while maintaining our commitment to the Swiss listing and reiterate our FY 2026 guidance.”
Order Intake and Backlog
Group order intake totaled $167.0 million in Q1 FY 2026, resulting in a quarterly book-to-bill ratio of 0.7x and a trailing twelve-month (TTM) book-to-bill ratio of 1.0x.
As of June 30, 2026, backlog stood at $3,820 million, with 47% attributable to the Grid Intelligence segment. Compared to $3,868 million as of June 30, 2025, backlog remained broadly stable year-over-year.
Net Revenue and Adjusted Gross Profit Margin
Our first fiscal quarter, which is seasonally low historically, had net revenue of $232.3 million, down 6.8% from the prior-year quarter due to the timing of project deployments.
Adjusted gross profit for the quarter increased 1.0% year-over-year to $87.0 million, resulting in an adjusted gross margin of 37.4%, an improvement of 280 basis points. The higher profitability was driven by operational efficiencies and a favorable shift in the revenue mix toward recurring software and services.
Segment Performance
Connected Platforms in USD millions, unless otherwise indicated | Q1 FY | Q1 FY | Change |
|
Order intake | 116.5 | 136.9 | (14.9%) |
|
Net revenue | 161.4 | 187.4 | (13.9%) |
|
Adjusted gross profit margin (in %) | 34.3% | 29.1% | 520bps |
|
The Connected Platforms segment recorded order intake of $116.5 million in the quarter, corresponding to a book-to-bill ratio of 0.7x. Net revenue declined 13.9% year-over-year to $161.4 million, primarily due to the timing of large project deployments. Adjusted gross margin increased by 520 basis points to 34.3%, driven by operational efficiencies and a favorable product mix.
Grid Intelligence in USD millions, unless otherwise indicated | Q1 FY 2026 | Q1 FY 2025 | Change |
|
Order intake | 50.5 | 34.8 | 45.1% |
|
Net revenue | 70.9 | 61.7 | 14.8% |
|
Adjusted gross profit margin (in %) | 44.7% | 45.9% | (120)bps |
|
In the Grid Intelligence segment, order intake increased 45.1% year-over-year to $50.5 million, resulting in a book-to-bill ratio of 0.7x. Net revenue grew 14.8% to $70.9 million, primarily driven by SaaS offering. Adjusted gross margin was 44.7% in the first quarter.
Acceleration of Share Buyback through Fixed-Price Offer
Under the current share buyback program, Landis+Gyr has repurchased approximately 1.2 million of its own shares, representing approximately 4.2% of its share capital, for a total consideration of CHF 60 million. To accelerate capital returns to shareholders, the Company intends to launch a fixed-price offer to repurchase up to CHF 50 million of its own shares over a 10-day period. Landis+Gyr expects to publish the terms of the fixed-price offer, including the buyback notice on August 3, 2026. The Company remains committed to returning a total of $175 million to shareholders and intends to recommence daily share buybacks following the completion of the fixed-price offer.
Reiterating FY 2026 Guidance
The Company reiterates its guidance for FY 2026 provided in May 2026 with:
· Net revenue of between $1,075 and $1,125 million; and an
· Adjusted EBITDA margin of between 14.5% and 15.5% of net revenue.
Documents
The Q1 FY 2026 trading update presentation, which forms part of this ad hoc announcement, is available on the Company's website at www.landisgyr.com/investors/results-center/.
Investor Webcast and Telephone Conference
The management of Landis+Gyr will host an investor/analyst call and webcast to discuss the Company's Q1 FY 2026 trading update.
Date and time | July 28, 2026, at 18:30 CET / 12:30 PM EST |
Speakers | Peter Mainz (Chief Executive Officer) Davinder Athwal (Chief Financial Officer) |
Audio webcast |
Key Dates
Release of Results for H1 FY 2026 |
|
Trading Update for Q3 FY 2026 | January 26, 2027 |
Release of Results for Financial Year 2026 | May 5, 2027 |
Publication of Annual Report 2026 and Invitation to AGM | May 28, 2027 |
Annual General Meeting 2027 | June 23, 2027 |
Disclaimer
This ad hoc announcement and information referred to herein contains (a) preliminary, unaudited numbers that may be subject to change and (b) information regarding alternative performance measures or non USGAAP measures, such as “Adjusted Gross Profit”. Reconciliations and definitions of these measures may be found in the appendix to this document.
Forward-looking Information
This ad hoc announcement includes forward-looking information and statements, including statements concerning the outlook for Landis+Gyr Group AGʼs businesses. These statements are based on current expectations, estimates and projections about the factors that may affect the Companyʼs future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for Landis+Gyr. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects”, “believes”, “estimates”, “targets”, “plans”, “outlook”, “guidance” or similar expressions. There are numerous risks, uncertainties and other factors, many of which are beyond Landis+Gyrʼs control, that could cause the Companyʼs actual results to differ materially from the forward-looking information and statements made in this announcement and which could affect the Companyʼs ability to achieve its stated targets. The important factors that could cause such differences include, among others: possible effects of pandemics, global shortage of energy or supplied components as well as increased freight rates, business risks associated with the volatile global economic environment and political conditions, including wars or military actions; market acceptance of new products and services; changes in governmental regulations and currency exchange rates; estimates of future warranty claims and expenses and sufficiency of accruals; and other such factors as may be discussed from time to time in Landis+Gyr Group AG filings with the SIX Swiss Exchange. Although Landis+Gyr Group AG believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved. Landis+Gyr Group AG undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law or the rules of the SIX Swiss Exchange.
