May 6, 2019 / 5:05 AM / in 16 days

BRIEF-Landis+Gyr Group FY Reported Net Income At USD 122.2 Mln

May 6 (Reuters) - LANDIS+GYR GROUP AG:

* FY NET REVENUES REACHED USD 1,765.2 MILLION, INCREASING 3.1% IN CONSTANT CURRENCY

* FY ADJUSTED EBITDA WAS USD 237.9 MILLION, HIGHER BY 14.3%, A MARGIN OF 13.5%

* FY REPORTED NET INCOME WAS USD 122.2 MILLION, INCLUDING A NON-CASH GAIN OF USD 14.6 MILLION RELATED TO SALE OF INTELLIHUB IN AUSTRALIA.

* PROPOSED DISTRIBUTION OF A DIVIDEND FROM CAPITAL RESERVES OF CHF 3.15 PER SHARE

* WE EXPECT OUR FY 2019 RESULTS TO BE SIGNIFICANTLY SKEWED TO SECOND HALF

* EXPECTS TO GROW SALES, ADJUSTED EBITDA AND FREE CASH FLOW (EXCLUDING M&A) IN FY 2019

* EXPECTS FY 2019 NET REVENUE GROWTH OF APPROXIMATELY 2-5%, AT CONSTANT CURRENCIES

* OUTLOOK 2019: GROUP ADJUSTED EBITDA IS EXPECTED TO BE BETWEEN USD 240 AND USD 255 MILLION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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