Executive interview – XP Power FY18 results

Published on 4 March 2019

In this interview, CEO Duncan Penny and CFO Gavin Griggs discuss XP Power’s FY18 results. Gavin explains the company’s record performance in terms of revenues, profits and bookings despite currency headwinds and Duncan summarises the benefits of the recent Glassman acquisition and highlights the breadth of the company’s product portfolio. While US tariffs on products imported from China have some impact on the company, Duncan explains that increasing manufacturing capacity in Vietnam should counter this. He also highlights the diverse end markets served by XP, and notes that while it saw weaker demand from semiconductor production equipment customers in Q4, all other end markets (c 75% of revenues) continued to perform well. Gavin gives an update on how the company is managing component shortages and both Duncan and Gavin discuss their expectations for FY19.
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.

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