REG-XP Power Ltd: Trading Statement

XP PowerAnnouncement

13/04/2018 07:05

13 April 2018

XP Power Limited

(“XP Power” or the “Company”)

Trading Update

XP Power, one of the world's leading developers and manufacturers of critical
power control solutions for the electronics industry, is today issuing a
trading update for the first quarter ended 31 March 2018.

Trading

The Company has made a good start to the new financial year as the strong
order intake reported in 2017 continued into 2018. Order intake in the first
quarter of 2018 was £51.2 million (2017: £47.0 million), 9% ahead of Q1 2017
on a reported basis or 19% ahead in constant currency.  On a “like for
like” basis, removing currency effects and the impact of the Comdel
acquisition, orders increased by 12%.

Group revenue for the three months to 31 March 2018 was £46.6 million (2017:
£39.6 million), 18% ahead of Q1 2017 on a reported basis, or 28% ahead in
constant currency. On a “like for like” basis revenue increased by 17%. 
The Book to Bill ratio, which tracks the relationship between orders received
and completed sales and is an indicator of future revenue growth, was 1.10 for
the first quarter.

Financial Position

Net debt was £6.8 million at 31 March 2018 compared with £9.0 million at 31
December 2017.

Dividend

The Board has declared a dividend for the first quarter of 16 pence per share,
a 7% increase over the prior year, which will be paid on 11 July 2018 to
shareholders on the register at 15 June 2018 (2017: 15 pence per share).

Outlook

The momentum seen in 2017 has continued into the first quarter of 2018 and we
are encouraged by the continued strong order intake experienced across the
business and the book to bill level gives us confidence for the future.  The
Board’s expectations for the Company’s full year performance remain
unchanged.

Enquiries:

XP Power 

Duncan Penny, Chief Executive Officer  +44 (0)118 976 5086

Gavin Griggs, Chief Financial Officer      +44 (0)118 976 5154

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 39% of sales),
healthcare (circa 31% sales) and technology (circa 30% 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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