January 27, 2020 / 5:53 AM / 21 days ago

BRIEF-Landis+Gyr Group Confirms FY 2019 Guidance At Lower End Of All Ranges

Jan 27 (Reuters) - Landis+Gyr Group AG:

* CONFIRMATION OF FY 2019 GUIDANCE RANGES, WITH EXPECTED RESULTS LIKELY TO BE AROUND LOWER END OF RANGES PRIMARILY DUE TO REGULATORY DELAYS IN US

* EXPECTS RESULTS TO LIKELY BE AROUND LOWER END OF ALL RANGES PROVIDED FOR 2019

* MID-TERM (FY 2022) FINANCIAL TARGETS UNVEILED, UNCHANGED FROM FY 2021 TARGETS

* SEES 2022 NET REVENUES, RELATIVE TO FY 2018, MID-SINGLE DIGIT CAGR IN CONSTANT CURRENCY WITH GROWTH BACK END LOADED TOWARDS FY 2022 DUE TO REGULATORY DELAYS IN US.

* SEES 2022 ADJUSTED EBITDA MARGIN BETWEEN 13.5% AND 14.5% OF NET REVENUES. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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