Landis+Gyr Comments on Toshiba Earnings Results
Zug, Switzerland, August 14, 2017 – Landis+Gyr (SWX: LAND), a global leader in transforming the way energy is delivered and managed, today issued the following statement.
Landis+Gyr's former majority shareholder Toshiba Corporation has released its fiscal year 2016 and Q1 2017 financial results. The results for fiscal year 2016 and Q1 2017 (which are as of June 30, 2017) included Landis+Gyr as a fully consolidated subsidiary. In addition, Toshiba Corporation provided certain additional financial information for Landis+Gyr, net sales and operating income, which included certain unspecified additions and adjustments.
As a stand-alone company, and consistent with the offering memorandum dated July 12, 2017 (as supplemented on July 20, 2017), Landis+Gyr posted USD 433 million in net revenue (unaudited) and USD 54.6 million in adjusted EBITDA (unaudited) for the three months ended June 30, 2017.
Landis+Gyr is providing this information in response to Toshiba Corporation's uncoordinated release of its financial results, and as an exception to Landis+Gyr's half year financial reporting policy. Landis+Gyr will provide its next financial update for H1 2017 on or about October 26, 2017.
Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios of products and services to address complex industry challenges, the company delivers comprehensive solutions for the foundation of a smarter grid, including smart metering, distribution network sensing and automation tools, load control, analytics and energy storage. Landis+Gyr operates in over 30 countries across five continents. With sales of approximately USD 1.7 billion, the company employs c. 6,000 people with the sole mission of helping the world manage energy better. More information is available at www.landisgyr.com.
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This document is not an offer to sell or a solicitation of offers to purchase or subscribe for shares. This document is not a prospectus within the meaning of Article 652a of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or a prospectus under any other applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of Landis+Gyr Group AG should be based exclusively on the issue and listing prospectus published by Landis+Gyr Group AG for such purpose. Copies of such issue and listing prospectus (and any supplements thereto) are available free of charge from UBS AG, Prospectus Library, P.O. Box, 8098 Zurich, Switzerland (telephone number: +41 44 239 4703; fax number: +41 44 239 6914; email: firstname.lastname@example.org) and Morgan Stanley & Co International plc, 25 Cabot Square, Canary Wharf, London E14 4QA. In addition, copies of such issue and listing prospectus (and any supplements thereto) are available free of charge in Switzerland from Landis+Gyr Group AG, email@example.com.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the laws of any state, and may not be offered or sold in the United States of America absent registration under or an exemption from registration under the Securities Act.
This publication may contain specific forward-looking statements, e.g., statements including terms like “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Landis+Gyr Group AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Landis+Gyr Group AG assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.