Landis+Gyr Group AG

Welcome to the Landis & Gere full year 2025 results presentation. Please note that this call will be recorded. During today's call, webcast participants will be in listen-only mode while we conduct the question and answer session. If you wish to ask a question, we ask that you please use the raised hand function at the bottom of your Zoom screen. Further instructions will follow at the time of the Q&A. I'd now like to turn the call over to Christian Welty, Head of Investor Relations. Please go ahead.

Thank you, moderator, and good afternoon, good evening, everyone. I'm Christian Welty, head of Investor Relations, and I'm joined today by Peter Mainz, our CEO, and by Davinder Otwal, our CFO. As you know, earlier today, Lansing Gear issued an ad hoc release and related presentation on the full year 2025 results. which are available on our website. This session will follow the structure of the presentation, so we encourage you to follow along. We'll conclude with Q&A, where our moderator will provide further instructions and where you will be able to ask questions. Please take a moment to review the usual disclaimer on slide 2 of the presentation. After this short introduction, I'd like to hand the floor over to our CEO, Peter Mainz.

Thank you, Christian. Good afternoon and good evening, everyone. I'm here with Davinda, our Chief Financial Officer, and we are pleased to present our full year 2025 financial results. With that said, let's now start with a review of the achievements in 2025. Let's turn to slide 3. Financial year 2025 was a pivotal and demanding year for the teams at Landes & Gier, marked by the successful execution of our strategic transformation. At the same time, we remained firmly focused on operational delivery and we met our targets. This highlights the strength and depth of our talent base, which continues to drive disciplined execution across multiple fronts. We began the year focused on the process of divesting our EMEA business. In September 2025, we signed an agreement with a private equity buyer and in April 2026, we successfully closed the transaction. With the transaction, we have created a business with elevated EBITDA and cash profile with low capital intensity and an attractive financial profile going forward. Our 2025 revenue growth reflects our continued focus on execution and customer engagement. Strong customer demand is evidenced by solid order intake and a sustained high backlog. Profitability improved further, with an EBITDA margin of 14.4%. This performance enabled us to return approximately $70 million to shareholders. For 2026, we intend to continue rewarding shareholders and propose an increased distribution of CHF 120 per share. In addition, we are progressing with our share buyback program to return the net proceeds from the EMEA divestment, with approximately $140 million remaining. Let's move to slide 4 on order intake and backlog. The sustained strength of our pipeline, the strongest pipeline I've seen, is clearly reflected in our order intake. We're pleased to report order intake of $1.1 billion in financial year 2025, highlighting the continued robustness of our pipeline. In contrast to last year, order intake was broad-based rather than driven by a few large contracts and included a significant contribution from new logos. This resulted in a book-to-bill ratio of around 1, representing a solid performance. In the fourth quarter, we maintained a book-to-bill ratio of approximately 1 while delivering revenue growth of 25%. Our entry into the gas metering market with ultrasonic technology paired with expanding our gas endpoint offering is clearly gaining momentum as a strong pipeline is translating into order intake. In Asia-Pacific, our grid edge offering is seeing increasing adoption, though from a smaller base but with lots of runway left. Overall, we're seeing solid momentum across our global platforms. We are particularly pleased with our order backlog, which remains stable at close to $4 billion. Approximately 43% of the backlog consists of software and software-enabled services, typically recognized over a period of 8 to 10 years, providing a strong foundation and enhanced visibility for long-term growth. And now I will give the floor to Davinda, our CFO, and he will run us through the financials in more detail.