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Landis+GYR GROUP AG – A residential and commercial focus of an electric counter.
Landis+GYR GROUP AG
Company: Landis+GYR GROUP AG (LAND-CH)
Business: Landis+GYR GROUP This is a company based in Switzerland, mainly engaged in an electric component and production business. It specializes in measuring decisions for electricity, gas, heat/cold and water for energy measurement solutions for utilities. The Landis+GYR product portfolio consists of advanced foods and intellectual energy management products such as electricity counters, heating and cooling meters, network management solutions and energy management solutions. In addition, the company offers various software services, management services, cloud services, smart network services, system integrations, training, and advice and support services.
The stock market value: Approximately 1.49b Swiss francs (CHF 51.60 per share)
Activist: Entrepreneurial Property Spectrum
Property: 5.01%
Average cost: N/a
Activist comment: Entrepreneurial Property Spectrum (“SEO”) manages the concentrated portfolio of large investments in the minority, usually six -hour positions, in the listed European companies that focus on the Dach region (Germany, Austria and Switzerland). How long and busy shareholder anchor, SEO seeks to unleash the full potential of its portfolio companies. The firm aims at small and medium -sized capital companies with several catalysts to create values and prioritize friendly interactions, as a rule, sits on the council of most companies where they are engaged. The stable capital base of the fund is related to family offices, funds, pension funds and other long -term institutional investors. SEO was founded in 2022 by Fabian Ravha and Dr. Iliaz Laber. Both directors have four decades of the council experience in the listed companies, and each has previously worked at CEVian Capital for about ten years.
What is happening
Behind the scenes
Landis+GYR is the leading world supplier of comprehensive energy management solutions, which specializes in expanded standings and reasonable network technology. Energy utilities and suppliers use Landis Smart Tech, sensors, software and services to upgrade and improve their infrastructure. While Landis is a very old company founded in 1896, it was privately owned and invested in a number of strategic and financial investors for most of its history. In 2011. Toshiba acquired 60% of the stock The company for $ 2.3 billion, but eventually decided the IPO Swiss unit Six years later. He started trading on six Swiss exchanges on July 21, 2017, 78 Swiss francs (CHF) for the share, which means a market limit of 2.3 billion CHF.
Today, Landis trades much lower than the IPO, which is 35%. It is also significantly underestimated by trading about 7.5 times, the cost of enterprise/eBitda, compared to the pure game NASDAQ, in the NASDAQ list (approximately 15 times), with which it functionally in the US, each controlling 35% to 40% of the market. In July 2024, SEO gained 5% interest in Landis in Kirkbi, becoming the second largest shareholder. Shortly thereafter, Landis requested an extraordinary general assembly to select Fabian Rauha, co -founder and SEO leader in August 2024. Two months later, October 30, 2024, the company announced that the company announced Strategic review one’s business portfolle, which includes the following key elements: (i) increasing attention to its business in America; (II) Review of the possibilities of creating values for its Europe, the Middle East and Africa (EMEA); and (III) evaluate potential changes in the US location. However, since then, several things have sent the stock price, including Landis, reducing their FY24 income recommendations by 8%, and the announcement is that about what’s about the announcement it will come out Its electric vehicle that charges EMEA, causing the expected fees for a violation of $ 35 to $ 45. As for the decrease in the leadership, despite the fact that Landis is constantly reporting that the growth of post-kapusta was impossible due to demand on the base, the warnings fell on the deaf ears. The shares decreased by almost 22% on February 11, 2025, the announcement date.
Focusing on America makes a lot of meaning. Landis brought $ 1.963 billion from three geographical segments: America (58%), EMEA (34%) and Asia-Pacific (8%). Despite the fact that EMEA made a third of the profit, it brought only 8% adjusted income, taxes, depreciation and depreciation, less eBitda than its much smaller Asia-Pacific Unit. Studying additional opportunities for growth in America and reducing your EMEA business either through sale or spinophus this business can be very defined for the cost of shareholders. Changing the place on the list is probably for the US exchange, it also makes sense, given that this Swiss company brings most of the profits in the region. This is a strategy that Cevian pushed in both CRH and PierceAnd this was a popular catalyst for the activist in Europe in recent years.
Landis is a story of unsuccessful capital with multiple astrid boards. Welcoming Fabian Raha was the first strong signal that the advice wanted to change. The second signal was a plan to create values. The third happened in November 2024When the company replaced the director of Verner Libeer with Peter Mainz. Finally, the fourth signal occurred in January 2025 replaced Audi Audiman.
Ken Skvir is the founder and president of the 13D monitor, an institutional scientific and research service for shareholders’ activity, as well as the founder and managers of the 13D -activist fund portfolio, a mutual fund that investes in the portfolio of 13D investments.
