Landis+Gyr Q1 revenue falls 6.8%, plans accelerated buyback

Landis+Gyr Group AG (SIX: LAND) reported net revenue of $232.3 million for the first quarter of fiscal year 2026 (April 1 – June 30, 2026), down 6.8% from $249.1 million in the same period a year earlier, according to a trading update issued by the company.

Order intake declined 2.7% year-over-year to $167.0 million, compared with $171.7 million in Q1 FY2025. The adjusted gross profit margin improved by 280 basis points to 37.4%, from 34.6% in the prior-year period, while adjusted gross profit edged up 1.0% to $87.0 million.

The company noted this release marks the first time results are presented under a new reporting segmentation announced at its 2026 Capital Markets Day, with prior-period figures restated accordingly. The figures are unaudited.

Chief Executive Officer Peter Mainz attributed the revenue decline to deployment timing and said pipeline activity remained strong. "We delivered on significantly improving the profitability of our business and are operating in our new segment structure," he said.

Following the closing of what the company referred to as the EMEA transaction, Landis+Gyr said it intends to accelerate its share buyback through a fixed-price offer to return proceeds to shareholders. The company also said it is continuing preparations for a U.S. stock listing while maintaining its Swiss listing, and reiterated its FY2026 guidance.

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