18 June 2024
XP
Power Limited
(‘XP
Power’ or ‘the Company’)
Response
to Advanced Energy Statement and
reiteration
of full year outlook
The Board
note the announcement released today by Advanced Energy Industries,
Inc. ("Advanced Energy") stating that they have no intention of
making an offer for the Company.
The Board
confirms that it has had no contact from Advanced Energy since its
indicative proposal was rejected on 13 May
2024.
The Board
confirms that its full year trading expectations remain unchanged.
The Company will announce its Interim Results on 6 August 2024.
Enquiries:
XP
Power
Gavin Griggs, Chief Executive Officer +44
(0)118 984 5515
Matt Webb, Chief Financial Officer +44
(0)118 984 5515
Citigate
Dewe Rogerson
Kevin Smith/Lucy
Gibbs +44
(0)207 638 9571
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. Power controllers are critical for optimal delivery in
challenging environments but are a small part of the overall
customer product cost.
XP Power
typically designs power control solutions into the end products of
major blue-chip OEMs, with a focus on the Industrial Technology
(circa 41% of sales), Healthcare (circa 20% sales) and
Semiconductor Manufacturing Equipment (circa 39% 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 five to
seven years depending on the industry sector. XP Power has invested
in research and development and its own manufacturing facilities in
China, North America, 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 is a
constituent of the FTSE All Share Index. XP Power serves a global
blue-chip customer base from over 30 locations in Europe, North
America, and Asia.
For
further information, please visit
www.xppowerplc.com.