Business
Annual Results for the year ended 31 December 2019
Annual Results for the year ended 31 December 2019.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \n \n \n 3 March 2020\n \n \n XP Power Limited\n (“XP Power” or “the Group” or the “Company”)\n Annual Results for the year ended 31 December 2019\n XP Power, one of the world's leading developers and manufacturers of critical power control solutions for the Industrial Electronics, Healthcare, Semiconductor Equipment Manufacturing and Technology markets, today announces its annual results for the year ended 31 December 2019.\n \n \n \n \n 2019\n \n \n 2018\n \n \n Change\n \n \n \n Order intake\n \n £214.9m\n \n £198.4m\n +8%\n \n \n Revenue\n \n £199.9m\n \n £195.1m\n +2%\n \n \n Gross margin\n \n 45.1%\n \n 47.3%\n -220bps\n \n \n Final dividend per share\n \n 36.0p\n \n 33.0p\n +9%\n \n \n Total dividend per share\n \n 91.0p\n \n 85.0p\n +7%\n \n \n \n Adjusted\n \n \n \n \n \n \n Adjusted operating profit1\n \n £35.9m\n \n £42.9m\n -16%\n \n \n Adjusted profit before tax1\n \n £33.2m\n \n £41.2m\n -19%\n \n \n Adjusted diluted earnings per share2\n \n 145.5p\n \n 172.8p\n -16%\n \n \n Free cash flow3\n \n £26.2m\n \n £11.1m\n +136%\n \n \n \n Reported\n \n \n \n \n \n \n Operating profit\n \n £26.7m\n \n £39.3m\n -32%\n \n \n Profit before tax\n \n £24.0m\n \n £37.6m\n -36%\n \n \n Diluted earnings per share\n \n 105.0p\n \n 154.9p\n -32%\n \n \n Operating cash flow\n \n £46.2m\n \n £26.7m\n +73%\n \n \n Net debt\n \n £41.3m\n \n £52.0m\n -21%\n \n \n \n Robust order intake and revenues in Technology, Industrial Electronics and Healthcare sectors offset cyclical weakness in the Semiconductor Equipment Manufacturing sector.\n Order intake of £214.9 million (2018: £198.4 million) – an increase of 8% (4% in constant currency or 2% on a like-for-like basis).\n Full year revenues increased by 2% (2% decline in constant currency and 4% decline on a like-for-like basis) to £199.9 million (2018: £195.1 million) reflecting the cyclical weakness in the Semiconductor Equipment Manufacturing sector and short-term delay to shipments during our Enterprise Resource Planning (“ERP”) implementation in the fourth quarter.\n Gross margin reduced to 45.1% (2018: 47.3%) reflecting a combination of the impact of Section 301 trade tariffs imposed by the USA on goods imported from China and adverse product and geographic mix.\n Free cash flow up 136% to £26.2 million (2018: £11.1 million) as a result of improved working capital management, parti...