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

XP PowerAnnouncement

13/01/2017 07:05

13 January 2017

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 fourth quarter ended 31 December 2016.

Trading

The Group had a strong finish to the year, trading in line with the Board’s
expectations as the acceleration in order intake reported in the third quarter
fed through into robust revenue growth in the final quarter.  The momentum in
order intake continued to strengthen in the fourth quarter.

Order intake in the fourth quarter of 2016 was £37.1 million compared with
£35.0 million in the third quarter and £30.0 million in the fourth quarter
of 2015.

Revenues in the fourth quarter of 2016 were £37.1 million compared with
£32.3 million in the third quarter and £27.8 million in the fourth quarter
of 2015.

Order intake for the twelve months ended 31 December 2016 was £133.5 million,
an increase of 21% over 2015, or 9% in constant currency.

Revenues for the twelve months ended 31 December 2016 were £129.8 million, an
increase of 18% over 2015, or 7% in constant currency.

Financial Position

Net cash at 31 December 2016 was £3.6 million compared with a net debt
position of £3.7 million at 31 December 2015.

Dividend

A dividend of 16 pence per share for the third quarter was paid on 12 January
2017, to shareholders on the register at 16 December 2016.

The recommended dividend for the fourth quarter of 2016 will be announced with
the 2016 final results but is not expected to be less than 25 pence per share,
representing a minimum total dividend of 70 pence per share for 2016, an
increase of 6% over the total dividend of 66 pence per share paid for 2015.

Outlook
 

We are encouraged by the strong order intake we have experienced during the
second half of 2016. We enter 2017 with positive momentum and therefore expect
that we should be able to show further growth in revenues in 2017.

- 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 sub assembly 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
facilities in China, North America and Vietnam, to develop a range of up to
date 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 27
locations in Asia, Europe and North America. 



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