REG-XP Power Ltd: Trading Statement <Origin Href="QuoteRef">XPP.L</Origin>

XP PowerAnnouncement

28/01/2015 24:05

9 January 2015

                               XP Power Limited                                

                          ("XP Power" or "the Group")                          

                                Trading Update                                 

XP Power, one of the world's leading developers and manufacturers of critical
power control components for the electronics industry, is today issuing a
trading update for the quarter ended 31 December 2014.

Trading

Revenues for the twelve months ended 31 December 2014 were ahead by 5% in
constant currency and in line with those achieved in 2013 on a reported basis.

Our North American business has shown strong momentum whereas trading
conditions in Europe remain subdued. Despite the mixed global economic
conditions that prevailed in the year we achieved record order intake in 2014
and enter 2015 with a strong order backlog.

Our manufacturing facility in China achieved record shipments and this
performance was reflected in strong factory loading which should result in
higher gross margins for 2014 than those achieved in 2013. This increase will
be achieved even after the start-up costs incurred in producing the first
complete power converters in our Vietnamese facility, which we are pleased to
report was achieved on schedule during the fourth quarter.

Financial Position

Net cash was £1.2 million at 31 December 2014 compared to a net debt position
of £3.5 million at 31 December 2013.

Dividend

A dividend of 14 pence per share for the third quarter will be paid today, 9
January 2015, to shareholders on the register at 12 December 2014.

The recommended dividend for the fourth quarter of 2014 will be announced with
the 2014 final results on 23 February 2015 but is not expected to be less than
21 pence per share, representing a minimum total dividend of 60 pence per share
for 2014, an increase of 9% over the total dividend of 55 pence per share paid
for 2013.

Outlook

Orders received in 2014 were £105.1 million, representing a new record for the
Group, (2013: £103.7 million). Despite the mixed global economic climate we
enter 2015 with positive momentum and therefore expect that we should be able
to show further modest growth in revenues in 2015.

XP Power will announce final results for the 12 months to 31 December 2014 on
23 February 2015.

                                   - Ends -                                    

Enquiries:

XP Power
Duncan Penny, Chief Executive           +44 (0)118 976 5086
Jonathan Rhodes, Finance Director       +44 (0)118 976 5074

Citigate Dewe Rogerson                  +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman


Note to editors

XP designs and manufactures power controllers, the essential hardware component
in every piece of electrical equipment that converts the power from the
electricity grid into the right form for the equipment to function.

XP typically designs in power control solutions into the end products of major
blue chip OEMs, with a focus on the industrial (circa 45% of sales), healthcare
(circa 30% sales) and technology (circa 25% of sales) sectors. Once designed
into a program, XP 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 has invested in research and development and its own manufacturing facility
in China, 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 serves a global blue chip customer base from 29
locations in Europe, North America and Asia.



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