XP Power Limited (XPP) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us today, whether in person or online. As usual, we'll start with the presentation before moving to Q&A. If you're watching online, you can ask a written question by using the toolbar at the bottom of the webcast platform screen. Just select the question icon and you'll be able to type in the question. Thank you. All right, I just wanted to cover the highlights and then Matt will cover the financial details. I think the first point is we are seeing a strong recovery in each of our end markets. We believe our consistent strategy is showing clear benefits and the business is performing well. The market backdrop has improved significantly, but growth has been broad-based across all sectors and regions with overall orders up 55% year-on-year. Semi-fab is particularly strong, reflecting the early stages of a new investment cycle, but the but the recovery is also evident more widely across the portfolio. We're seeing the clear benefits of the strategy we've been implementing. The portfolio is now more focused and we are concentrating investment and commercial effort in areas where XP has strong market positions and the most attractive growth prospects. Operationally, we are scaling capacity to make sure we can meet demand while maintaining discipline on cost, quality and delivery. Our full year expectations remain unchanged and are well supported by the order book. The balance sheet remains robust, giving us the flexibility to support growth, continue investing behind the strategy and manage the business with confidence. On that, I'll hand over to Matt to cover our financial performance and I'll come and talk about operations. Okay, thank you Gavin. Morning everyone. Let me take you through the numbers for the first half, start...