LANDIS+GYR GROUP AG Extracts from the Financial Report 2022
Consolidated Statements of Operations (unaudited)
FINANCIAL YEAR ENDED MARCH 31,
USD in thousands, except per share data
Net revenue
Cost of revenue
Gross profit
Operating expenses
Research and development
Sales and marketing
General and administrative
Amortization of intangible assets
Operating income
Other income (expense), net
Income before income tax expense
Income tax expense
Net income (loss) before noncontrolling interests and equity method investments
Net income (loss) from equity investments
Net income before noncontrolling interests
Net income (loss) attributable to noncontrolling interests, net of tax
Net income attributable to Landis+Gyr Group AG Shareholders
Earnings per share:
Basic
Diluted
Weighted-average number of shares used in computing earnings per share:
Basic
Diluted
2023
1,681,386
1,206,169
475,217
175,741
78,321
130,883
39,237
51,035
7,249
58,284
(80,882)
(22,598)
229,717
207,119
(815)
207,934
7.35
7.32
28,843,658
28,958,880
2022
1,463,961
981,231
482,730
160,270
71,852
126,690
35,147
88,771
3,261
92,032
7,002
99,034
(19,596)
79,438
35
79,403
2.59
2.59
28,831,212
28,831,212
Consolidated Balance Sheets (unaudited)
USD in thousands, except share data
ASSETS
Current assets
Cash and cash equivalents
Accounts receivable, net of allowance for doubtful accounts of USD 7.4 million and USD 6.2 million
Inventories, net
Prepaid expenses and other current assets
Total current assets
Property, plant and equipment, net
Intangible assets, net
Goodwill
Deferred tax assets
Other long-term assets
TOTAL ASSETS
LIABILITIES AND EQUITY
Current liabilities
Trade accounts payable
Accrued liabilities
Warranty provision - current
Payroll and benefits payable
Loans payable
Operating lease liabilities - current
Other current liabilities
Total current liabilities
Warranty provision - non current
Pension and other employee liabilities
Deferred tax liabilities
Tax provision
Operating lease liabilities - non current
Other long-term liabilities
Total liabilities
Redeemable noncontrolling interests
Shareholders' equity
Landis+Gyr Group AG shareholders' equity
Registered ordinary shares (28,908,944 and 28,908,944 issued shares at March 31, 2023 and March 31, 2022, respectively)
Additional paid-in capital
Retained earnings (Accumulated deficit)
Accumulated other comprehensive loss
Treasury shares, at cost
(54,764 and 74,344 shares at March 31, 2023 and March 31, 2022, respectively)
Total Landis+Gyr Group AG shareholders' equity
Noncontrolling interests
Total shareholders' equity
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
March 31, 2023
117,370
351,379
242,340
109,018
820,107
117,215
216,312
1,048,508
43,789
178,291
2,424,222
214,822
47,638
30,862
66,076
180,661
13,504
102,037
655,600
15,404
24,729
37,465
23,747
82,088
55,995
895,028
6,358
302,756
1,100,179
176,105
(52,418)
(5,069)
1,521,553
1,283
1,522,836
2,424,222
March 31, 2022
84,850
323,612
143,106
59,680
611,248
116,310
270,593
1,048,404
43,557
197,905
2,288,017
163,323
34,928
33,433
62,017
228,831
13,068
90,910
626,510
14,892
29,157
36,546
26,529
90,588
66,239
890,461
11,969
302,756
1,156,312
(31,829)
(36,596)
(6,413)
1,384,230
1,357
1,385,587
2,288,017
Consolidated Statements of Cash Flows (unaudited)
FINANCIAL YEAR ENDED MARCH 31,
USD in thousands | 2023 | |
Cash flow from operating activities | ||
Net income | 207,119 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) | ||
operating activities: | ||
Depreciation and amortization | 82,182 | |
Net loss (income) from equity investments | (229,717) | |
Share-based compensation | 5,105 | |
Gain on sale of investments | - | |
Loss on disposal of property, plant and equipment | 252 | |
Effect of foreign currencies translation on non-operating items, net | (17,245) | |
Change in allowance for doubtful accounts | 1,251 | |
Deferred income tax | (1,706) | |
Change in operating assets and liabilities, net of effect of businesses | ||
acquired and effect of changes in exchange rates: | ||
Accounts receivable | (37,347) | |
Inventories, including advance payments | (139,227) | |
Trade accounts payable | 60,033 | |
Other assets and liabilities | 23,526 | |
Net cash provided by operating activities | (45,774) | |
Cash flow from investing activities | ||
Payments for property, plant and equipment | (28,300) | |
Payments for intangible assets | (971) | |
Proceeds from the sale of property, plant and equipment | 214 | |
Business acquisitions, net of cash received | - | |
Purchase of investments | - | |
Proceeds from the sale of investments | 237,842 | |
Net cash from settlement of foreign currency derivatives to hedge investing activities | (3,005) | |
Net cash used in investing activities | 205,780 | |
Cash flow from financing activities | ||
Proceeds from third party facility | 264,006 | |
Repayment of borrowings to third party facility | (320,106) | |
Purchase of treasury shares | (409) | |
Dividends paid | (64,700) | |
Net cash from settlement of foreign currency derivatives to hedge financing activities | 1,289 | |
Issuance of shares | 1,046 | |
Net cash provided by (used in) financing activities | (118,874) | |
Net increase (decrease) in cash and cash equivalents | 41,132 | |
Cash and cash equivalents at beginning of period, including restricted cash | 85,539 | |
Effects of foreign exchange rate changes on cash and cash equivalents | (8,685) | |
Cash and cash equivalents at end of period, including restricted cash | 117,986 |
2022
79,438
81,500
19,596
1,986
(2,488)
44
2,567
(485)
(18,743)
(32,585)
(15,899)
34,341
(33,494)
115,778
(27,087)
(25)
349
(150,699)
(5,000)
2,488
(4,200)
(184,174)
154,023
(73,891)
-
(65,908)
-
-
14,224
(54,172)
140,549
(838)
85,539
Supplemental Reconciliations and Definitions (unaudited)
Adjusted EBITDA
The reconciliation of Operating income to Adjusted EBITDA is as follows for the financial year ended March 31, 2023 and 2022:
L+G GROUP AG | AMERICAS | EMEA | ASIA PACIFIC | CORPORATE AND | |||||
ELIMINATIONS | |||||||||
USD in millions, unless | FY 2022 FY 2021 | FY 2022 FY 2021 | FY 2022 FY 2021 | FY 2022 FY 2021 | FY 2022 FY 2021 | ||||
otherwise indicated |
Operating income (loss) | 51.0 | 88.8 | 86.6 | ||
Amortization of | |||||
intangible assets | 56.9 | 50.9 | 30.1 | ||
Depreciation | 25.3 | 30.6 | 11.1 | ||
EBITDA | 133.2 | 170.3 | 127.8 | ||
Restructuring charges | 11.8 | 2.9 | 0.4 | ||
Warranty normalization | |||||
adjustments | (5.1) | (13.8) | (9.2) | ||
Timing difference on | |||||
FX Derivatives | 0.0 | (12.4) | - | ||
Adjusted EBITDA | 139.9 | 147.0 | 119.0 | ||
Adjusted EBITDA | |||||
margin (%) | 8.3% | 10.0% | 13.4% |
- (48.3)
- 18.6
- 10.1
121.8 (19.6)
0.2 1.4
(12.6) 4.0
- 0.2
109.4 (14.1)
15.5% (2.3%)
- (0.9)
- 1.4
- 2.8
37.3 3.3
2.3 10.0
(1.5) 0.1
(12.4) (0.2)
25.7 13.3
4.4% 6.9%
- 13.6
- 6.8
- 1.3
7.1 21.7
0.4 -
0.3 -
- -
7.8 21.7
4.7%
(4.1)
6.8
1.4
4.1
-
-
-
4.1
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Landis&Gyr Group AG published this content on 02 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2023 07:55:07 UTC.
