XP Power (XPP)

Business description

XP Power is a developer and designer of power control solutions with production facilities in China, Vietnam and the US, and design, service and sales teams across Europe, the US and Asia.

Stock data

Market cap.£694.7m
Last close3,610.00p
High / Low (52 weeks)3740.0p / 2390.0p
Stock market listingLN
Forecast net debt (£m)5.7
Forecast gearing ratio (%)4
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual7.82.944.4
Relative *1.27.038.5

* % Relative to local index

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Company news

Investment summary

XP Power’s Q1 trading update confirmed continuing positive momentum in order intake. Orders received were 9% higher on a year-on-year and quarter-on-quarter basis. With Q1 revenue growth of 18% y-o-y, book-to-bill remained strong at 1.1x. We have revised our revenue forecasts to take account of the higher than expected performance in Q1, resulting in an upgrade to forecast normalised EPS of 7.7% in FY18 and 7.6% in FY19.

Last updated on 13/04/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 129.8 33.0 28.6 115.33 31.3 N/A
2017A 166.8 41.7 36.1 147.00 24.6 N/A
2018E 186.0 46.6 40.3 171.09 21.1 N/A
2019E 195.1 49.5 42.9 182.54 19.8 N/A

Last updated on 13/04/2018

Latest video

Executive Interview – XP Power

Industry outlook

XP supplies three end-markets: Healthcare, Industrial and Technology, across Europe, North America and Asia. The Industrial segment is relatively fragmented, but the company sees demand across various applications. The Healthcare business continues to gain market share, with corporate approvals from the major suppliers in place. The Technology segment is the most cyclical, with semi fab suppliers showing strong growth.

Last updated on 06/04/2018

Key management

James Peters, Chairman
Duncan Penny, CEO
Gavin Griggs, Chief Financial Officer & Executive Director

Company address

401 Commonwealth Drive
Haw Par Technocentre, Lobby B, #02-02
Singapore
149598
Singapore
+65 64116900
View website