XP Power H121 results – executive interview

In this interview, CEO Gavin Griggs and recently appointed CFO Oskar Zahn discuss XP Power’s H121 results. Gavin discusses the company’s strong performance, which was set against a tough comparative, highlighting strong growth in orders from the semiconductor equipment manufacturing and industrial technology markets, while the exceptional demand for COVID-related healthcare equipment has receded. Oskar outlines XP’s financial performance in H121: revenue up 23% and orders up 17% y-o-y in constant currency, resulting in gross and operating margin expansion and diluted EPS up 33% y-o-y. He also confirms that XP anticipates it will modestly exceed consensus expectations for FY21. On ESG, Oskar gives an update on the company’s strategy. Gavin discusses the short- and medium-term drivers for the business, injecting a note of caution around COVID and component shortages, but also expressing confidence in the company’s ability to gain market share in the medium term.

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