12th July 2021
Olivier Aeschlimann, Senior Financial Analyst
The group is a global provider of integrated solutions for measuring consumption of electricity, gas, heating / refrigeration and water. Landis + Gyr thus enables companies and public services to optimally manage their energy consumption by aggregating all data using smart meters. The company suffered a significant decline in sales in fiscal year 2020/21 (closing at the end of March) due to the Covid-19 pandemic which severely hampered the installation of meters. However, management remains optimistic and expects revenue growth of between 7 and 11% in 2021/22. In fact, the group has just signed a 20-year contract for a network modernization project with the American operator National Grid. National Grid will use approximately 1.7 million smart electricity meters and 640,000 next-generation gas meter modules in the supply area of the northern part of New York.