XP Power Ltd Trading Update
October 10 2019 - 1:00AM
UK Regulatory
TIDMXPP
10 October 2019
XP Power Limited
("XP Power" or "the Group")
Trading Update
Full year expectations unchanged
XP Power, one of the world's leading developers and manufacturers of critical
power control components to the electronics industry, is today issuing a
trading update for the quarter ended 30 September 2019.
Trading
Order intake and revenues for the third quarter and nine months ended 30
September 2019 is set out in the table below.
GBP Millions 2019 2018 Change Change in Like for
constant like change1
currency
Orders
Third 55.9 51.9 +8% +4% +6%
quarter
Year to date 156.5 153.3 +2% -3% -5%
Revenues
Third 53.8 52.9 +2% -1% -1%
quarter
Year to date 152.7 146.1 +5% -1% -4%
Book to Bill
Third 1.04 0.98 +0.06
quarter
Year to date 1.02 1.05 -0.03
1 Like for like basis, removing currency effects and the impact of the Glassman
acquisition in May 2018.
Financial Position
Net debt at 30 September 2019 was GBP50.0 million compared to GBP50.4 million at 30
June 2019.
Dividend
A dividend for the third quarter of 20 pence per share will be paid on 13
January 2020 to shareholders on the register at 13 December 2019. This brings
the total dividend for the first three quarters of 2019 to 55 pence per share,
representing a 6% increase over the 52 pence per share paid in respect of the
first three quarters of 2018.
Outlook
Order intake in our Healthcare, Industrial and Technology markets remains
robust, but as expected, there has been no notable recovery in the end markets
for Semiconductor Equipment Manufacturing, which represented 18% of revenues in
the first half of 2019. With the third quarter book to bill ratio at 1.04, the
Board anticipates the Group's performance for the full year will be in line
with its current expectations as outlined at the time of its interim results on
1 August 2019.
XP Power will issue a trading update for the year ended 31 December 2019 on 13
January 2020.
- Ends -
XP Power
Duncan Penny, Chief Executive Officer +44 (0)118 984 5515
Gavin Griggs, Chief Financial Officer +44 (0)118 984 5515
Citigate Dewe Rogerson +44(0)20 7638 9571
Kevin Smith/Jos Bieneman
Note to editors
XP Power designs and manufactures power controllers, the essential hardware
component in every piece of electrical equipment that converts power from the
electricity grid into the right form for equipment to function.
XP Power typically designs power control solutions into the end products of
major blue-chip OEMs, with a focus on the Industrial (circa 47% of sales),
Healthcare (circa 24% of sales), Semiconductor Equipment Manufacturing (circa
18% of sales) and Technology (circa 11% of sales) sectors. Once designed into
a programme, XP Power has a revenue annuity over the life cycle of the
customer's product which is typically 5 to 7 years depending on the industry
sector.
XP Power has invested in research and development and its own manufacturing
facilities in China and Vietnam, to develop a range of tailored products based
on its own intellectual property that provide its customers with significantly
improved functionality and efficiency.
Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP Power serves a global blue-chip customer base from 29
locations in Europe, North America and Asia.
For further information, please visit xppower.com
END
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