AURELIUS acquires Landis+Gyr's EMEA business

The transaction encompasses the full metering portfolio for residential electricity, ICG electricity, gas, thermal, water, as well as the related integrated solutions for software and services, which in financial year (FY) 2024 generated net revenues of approximately USD 600 million. The divestment includes five production sites across the region and involves a workforce of approximately 2,700 employees. Landis+Gyr intends to return proceeds from the transaction to shareholders through a share buyback program while retaining a strong balance sheet and flexibility to support future growth initiatives. The transaction is expected to result in a provisional non-cash impairment charge related to the carrying value of the EMEA business of approximately USD 190 million, which will be reflected in the Group’s H1 FY 2025 financial results. The EMEA segment is expected to be classified as discontinued operations in the H1 FY 2025 results which will be released on October 28, 2025. With respect to France, while AURELIUS has formally offered to acquire the French business, its inclusion within the scope of the transaction perimeter remains subject to the completion of the works council consultation and acceptance of the offer by Landis+Gyr.