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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.£504.2m
Last close2,620.00p
High / Low (52 weeks)3740.0p / 2580.0p
Stock market listingLN
Forecast net debt (£m)0
Forecast gearing ratio (%)0
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(12.7)(26.2)(22.9)
Relative *(9.2)(20.5)(18)

* % Relative to local index

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Company news

Investment summary

XP Power’s Q3 trading update confirms strong revenue growth, despite currency headwinds, and good progress in design wins across all end markets. Q3 bookings growth has moderated slightly, partially reflecting uncertainty in the semiconductor sector over capex plans, but management is confident of achieving expectations set at its recent interim results; we leave our forecasts unchanged.

Last updated on 08/10/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 129.8 33.0 28.6 115.3 22.7 N/A
2017A 166.8 41.7 36.1 147.0 17.8 N/A
2018E 198.9 49.2 42.2 177.6 14.8 N/A
2019E 219.4 55.0 47.2 198.4 13.2 N/A

Last updated on 08/10/2018

Latest video

XP Power H118 interim results

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 28/09/2018

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