Business
Annual Results for the year ended 31 December 2022
Annual Results for the year ended 31 December 2022.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \n 28 February 2023\n XP Power Limited\n(‘XP Power’ or ‘the Group’ or ‘the Company’)\n Annual Results for the year ended 31 December 2022\n Strong second half performance with positive momentum into 2023\n XP Power, one of the world's leading developers and manufacturers of critical power control solutions for the Industrial Technology, Healthcare and Semiconductor Manufacturing Equipment sectors, announces its annual results for the year ended 31 December 2022.\n \n \n \n Year ended 31 December 2022\n Year ended 31 December 2021\n % change actual exchange rates\n % change constant exchange rates\n % change organic constant currency\n \n \n Order intake\n \n £362.9m\n \n £343.4m\n 6%\n (2)%\n (6)%\n \n \n Revenue\n \n £290.4m\n \n £240.3m\n 21%\n 13%\n 6%\n \n \n Gross margin\n \n 41.5%\n \n 45.1%\n (360)bps\n (340)bps\n \n \n \n Final dividend per share\n \n 36.0p\n \n 36.0p\n -\n \n \n \n \n Total dividend per share\n \n 94.0p\n \n 94.0p\n -\n \n \n \n \n \n Adjusted\n \n \n \n \n \n \n \n \n Adjusted operating profit1\n \n £42.9m\n \n £45.1m\n (5)%\n (12)%\n \n \n \n Adjusted profit before tax1\n \n £38.0m\n \n £43.8m\n (13)%\n (20)%\n \n \n \n Adjusted diluted earnings per share1\n \n 160.1p\n \n 176.3p\n (9)%\n \n \n \n \n \n Reported2\n \n \n \n \n \n \n \n \n Operating (loss)/profit\n \n £(24.1)m\n \n £29.7m\n (181)%\n (177)%\n \n \n \n (Loss)/profit before tax\n \n £(30.2)m\n \n £28.4m\n (206)%\n (201)%\n \n \n \n Diluted (loss)/earnings per share\n \n (101.6)p\n \n 113.8p\n (189)%\n \n \n \n \n Cash generated from operations\n \n £2.1m\n \n £40.6m\n (95)%\n \n \n \n \n Net debt\n \n £151.0m\n \n £24.6m\n (514)%\n \n \n \n \n \n 1\n For details on adjusted measures refer to note 2 of the consolidated financial statements.\n \n \n \n 2\n \n Statutory results reflect the costs associated with the ongoing Comet legal case\n \n \n Group performance improved significantly in the second half of 2022 as supply chain conditions stabilised allowing increased product shipments.\n \n \n As previously announced, the reported results for the year have been impacted by the exceptional costs associated with the Comet legal case which totalled £59.7 million in the period. Adjusted figures are shown above to show the underlying trading performance.\n \n \n Strong demand across the year, with record order intake increasing by 6% to £36...