Slide 1: Full Year 2024 Earnings Presentation
Full Year 2024 Earnings Presentation Peter Mainz | Chief Executive Officer Davinder Athwal | Chief Financial Officer May 2, 2025 1 | © Landis+Gyr 2025 | FY 2024 Results
Slide 2: Disclaimer
Disclaimer Forward-looking Information This presentation includes forward-looking information and statements, including statements concerning the outlook for Landis+Gyr Group AG and its affiliates, together referred to as Landis+Gyr Group, and hereinafter as “Landis+Gyr”. These statements are based
Slide 3: Highlights FY 2024
Highlights FY 2024 ▪ Exceptional order intake and book-to-bill ratio driven by key wins Order intake Order backlog centered around Grid Edge technology in Americas and APAC USD 2,614m USD 4,630m Book-to-bill 1.5 +22.9% ▪ Highest ever backlog of USD 4.6 bn providing strong foundation and visibility f
Slide 4: Update on Strategic Initiatives
Update on Strategic Initiatives + Focus on Americas business + Strategic review of EMEA + Working towards a US listing ▪ Offers the greatest opportunity with ▪ Review all options for the best value ▪ Majority of Group Revenues and Adj. higher value software and services creation from the EMEA busine
Slide 5: Science Based Target Initiative
9.0 Committed to the Science Based Target Initiative Targets validated by SBTI in 2023 Joined in January 2020 2030 100% renewable electricity ↓ 42% in S1&2 and S3, respectively Reporting according to GRI since 2020 Joined in September 2024 million tons CO2 Direct CO2 emissions avoided through instal
Slide 6: Driving Grid Edge Adoption Across the Globe
Driving Grid Edge Adoption Across the Globe + + + Americas EMEA APAC Revelo is the Grid Edge Standard: 2M+ Over 4M Deployed, 4M+ Contracted— More than 800K Deployed, Deployed, 10M Contracted—Unlocking Empowering Smarter Grids in a 2.5M Contracted to support the digital Scalable Intelligence from Edg
Slide 7: Order Intake / Backlog – FY 2024
Order Intake / Backlog – FY 2024 ORDER INTAKE BACKLOG 4’630 1.0x Book-to-Bill 1.5x 172 3’768 +22.9% 2’614 697 +33.3% 89 247 698 1’961 621 139 USD in millions 584 3’762 2’981 1’746 1’238 FY 2023 FY 2024 March 31, 2024 March 31, 2025 Americas EMEA APAC Americas EMEA APAC ▪ Very strong Order Intake of
Slide 8: Consolidated Results – FY 2024
Consolidated Results – FY 2024 USD in millions (except per share amounts) FY 2024 FY 2023 Change Net revenue 1,729.3 1,944.2 (11.1)% ▪ Revenue impacted by Americas, due to non- recurrence of pent-up demand realization and tariffs Change in constant currency (10.5)% impacting timing of shipments, and
Slide 9: Net Revenue Bridge
Net Revenue Bridge – FY 2024 USD in millions Americas 1963.0 1944.2 ▪ Revenue decline particularly in North 1931.8 (18.8) (12.4) America driven by pent-up demand normalization and tariff related delays, partially offset by strong backlog execution in Japan (155.3) (42.4) 1729.3 EMEA (4.7) ▪ Stronger
Slide 10: Adjusted EBITDA Bridge
Adjusted EBITDA Bridge – FY 2024 USD in millions ▪ Adjusted Gross Profit Volume 6.0 229.9 228.1 decrease driven by topline decline in 223.9 (1.8) Americas and EMEA ▪ Adjusted Gross Profit further impacted by unfavorable mix and a one-time inventory obsolescence adjustment of USD (20) million, partia
Slide 11: Adjustments to EBITDA – FY 2024
Adjustments to EBITDA – FY 2024 ▪ Restructuring Charges of USD 8.1 million are USD in millions FY 2024 FY 2023 Change primarily related to OPEX efficiency initiatives in Reported EBITDA 148.8 222.8 (33.2)% the Americas and EMEA Adjustments 22.0 7.1 211.3% ▪ Warranty normalization adjustments of USD
Slide 12: Net Debt
Net Debt – FY 2024 USD in millions 1.07x 11.1 ▪ Maintained solid Balance Sheet position 72.5 21.7 182.9 ▪ 1.07x leverage ratio with a net debt position 0.59x 25.2 of USD 182.9 million 131.3 (78.9) ▪ M&A/Investment activities related to the proceeds from divestments net of cash ▪ Other primarily rela
Slide 13: Americas Segment
Americas Segment – FY 2024 USD in millions 1,300.0 80.0% 1,131.3 70.0% 1,100.0 ▪ Revenue decline of 14.7% due to prior 964.6 60.0% year benefit of catch-up on pent-up demand (USD 120 million) and tariffs ,900.0 50.0% delaying timing of shipments in March (USD 30 million) ,700.0 35.5% 40.0% 32.7% ▪ A
Slide 14: EMEA Segment
EMEA Segment – FY 2024 USD in millions 700 80.0% 649.3 606.6 70.0% 600 ▪ Stronger revenue performance in H2, 60.0% driven by growth in Belgium and Germany (Thermal solutions); not fully 500 50.0% compensating softness in H1 driven by project timing, the UK and Turkey 400 40.0% ▪ Adjusted EBITDA decl
Slide 15: APAC Segment
APAC Segment – FY 2024 USD in millions 170 80.0% 163.6 70.0% 160 158.1 ▪ Revenue impacted by project timing in SEA, partially offset by Esyasoft (India JV) 60.0% 150 ▪ Adjusted EBITDA expansion supported by 50.0% a gain from a real estate transaction in 140 40.2% India (USD 11.0m or 7% margin impact
Slide 16: Guidance FY 2025
Guidance FY 2025 Net Revenue Net revenue growth of between 5% and 8% Adjusted EBITDA Adjusted EBITDA margin between 10.5% and 12.0% of net revenue Guidance is subject to external factors including tariffs and elevated market uncertainties that could impact the results. 16 | © Landis+Gyr 2025 | FY 20
Slide 17: Q&A
Q&A 17 | © Landis+Gyr 2025 | FY 2024 Results
Slide 18: Key Messages
Key Messages ▪ Record backlog of almost USD 4.6bn and leading installed base providing strong foundation and visibility for future growth ▪ Growing energy demand and increased need for more intelligent power grids driving adoption of grid edge technology ▪ Net revenue expected to grow between 5% and
Slide 19: Dates & Contacts
Dates & Contacts Important Dates Contacts May 28, 2025 Publication of Annual Report 2024 Christian Waelti and Invitation to AGM 2025 Head Investor Relations & Corporate Communications June 25, 2025 Annual General Meeting 2025 Phone +41 41 935 6331 June 27, 2025 Ex-Dividend Date Christian.Waelti@land
Slide 20: Appendix
Appendix 20 | © Landis+Gyr 2025 | FY 2024 Results
Slide 21: Americas Segment – FY 2024
Americas Segment – FY 2024 USD in millions FY 2024 FY 2023 Change Order intake 1,745.6 1,238.1 41.0% Committed Backlog 3,761.9 2,981.1 26.2% Change in constant currency 26.2% Net revenue 964.6 1,131.3 (14.7)% Change in constant currency (13.9)% Adjusted Gross Profit 315.9 401.9 (21.4)% Adjusted Gros
Slide 22: EMEA Segment – FY 2024
EMEA Segment – FY 2024 USD in millions FY 2024 FY 2023 Change Order intake 620.7 584.1 6.3% Committed Backlog 696.8 697.9 (0.2)% Change in constant currency (1.2)% Net revenue 606.6 649.3 (6.6)% Change in constant currency (6.5)% Adjusted Gross Profit 164.9 176.5 (6.6)% Adjusted Gross Profit % 27.2%
Slide 23: APAC Segment – FY 2024
APAC Segment – FY 2024 USD in millions FY 2024 FY 2023 Change Order intake 247.4 138.8 78.3% Committed Backlog 171.8 89.5 92.0% Change in constant currency 94.2% Net revenue 158.1 163.6 (3.4)% Change in constant currency (2.9)% Adjusted Gross Profit 63.5 44.0 44.6% Adjusted Gross Profit % 40.2% 26.9
Slide 24: Investing in the Future
Investing in the Future #decarbonizethegrid 24 | © Landis+Gyr 2025 | FY 2024 Results