XP Power – 2020 full year results

In this interview, CEO Gavin Griggs and acting CFO Johan Olivier discuss XP Power’s FY20 results. Gavin discusses the company’s strong performance despite the backdrop of COVID-19, noting that all manufacturing sites are operational and the company has not needed to furlough any staff. He outlines the performance of the three end-markets served by the group, noting that COVID-19 drove increased demand for critical care equipment from the healthcare sector and flexible working helped drive demand from semiconductor equipment manufacturers. At the same time, the pandemic reduced demand from XP’s industrial technology customers. Johan highlights the strong growth in revenues and orders in the year, detailing the revenue performance on a divisional basis. Gavin highlights the company’s focus on sustainability and explains how the focus on product efficiency helps customers to reduce their energy requirements. Johan confirms the final dividend for the year, a reflection of the company’s confidence in its outlook. Gavin concludes by providing his view on the outlook for FY21.

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.