XP Power reports £167.2 million in H1 orders, up 55% YoY, with adjusted EPS rising to £0.142 from £0.004.
XP Power (LON:XPP) posted a 55% year-over-year increase in first-half order intake to £167.2 million, driven by demand recovery in semiconductor, industrial, and healthcare sectors. Revenue grew 2% at constant currency to £109.1 million, constrained by U.S. export license expirations and a weaker dollar.
Adjusted gross margin expanded by 450 basis points to 45.9%, returning to mid-40% targets due to factory closures, restructuring, and cost savings. Adjusted operating profit rose 23% to £8.6 million, with margins up 360 basis points to 7.9%. Adjusted EPS jumped to £0.142 from £0.004.
The company maintained full-year guidance, citing broad-based sector recovery and strong semiconductor equipment demand as customers invest in multi-year wafer-fabrication expansion.