XP Power – Financial Interim Results
We have worked again with XP Power to produce a video highlighting the organisation’s interim financial results and, yet again, it’s a good news story.
Click here to play the video report highlighting the results.
And here is an extract of XP’s interim financial statement:
“The Group has had a very strong first half of 2017. Our reported order intake and revenues for the first six months of 2017 all set new records, assisted by the weakness of Sterling, a recovery in the capital equipment markets and, significantly, new design wins entering their production phase. The resulting solid earnings, cashflow generation and our confidence in the Group’s outlook support a further increase in the dividend.
We have continued to execute well against our strategy and, most encouragingly, we are now seeing the positive effect from design wins on the newer product introductions. The successful implementation of our strategy continues to drive market share gains and we are encouraged both by the strength of our order book and our continued new program wins. Our strong performance is enabling us to invest part of the cash generated from this revenue growth to expand our engineering capabilities and fuel our future growth.
Our strategy and value proposition
The Group has applied a consistent strategy of moving up the value chain and our growth derives in part from the targeting of key account customers. Once we are approved to supply these larger customers, we have continued to be successful in gaining a larger share of their business. We also continue to expand the breadth of our product portfolio, both organically and by acquisition, in what remains a highly fragmented sector, therefore enabling us to increase our addressable market.
Our value proposition to customers is to reduce their overall costs of design, manufacture and operation. We achieve this by providing excellent sales engineering support and producing new highly reliable products that are easy to design into the customer’s system, consume less power, take up less space and reduce installation times.
Our vision is to be the first choice power solutions provider, delivering the ultimate experience for our customers and as a place of work for our people.”