## XP Power Limited2025 Annual Results Summary
**Key Highlights**
* **Revenue** ยฃ230.1 million, down 4% in constant currency due to customer destocking, particularly in the first half.
* **Order Intake** ยฃ225.9 million, up 28% in constant currency, driven by strong growth in Industrial Technology and Healthcare sectors.
* **Adjusted Operating Profit** ยฃ17.3 million, down 20% in constant currency, reflecting revenue decline but mitigated by cost control measures.
* **Net Debt** Reduced to ยฃ41.5 million, down from ยฃ93.5 million in 2024, due to strong cash generation and a share placing.
* **Gross Margin** Improved to 42.7% (adjusted), up 170 basis points, with further improvement expected as markets recover.
* **New Product Launches** 24 new products launched, focusing on innovation and market-leading solutions.
* **Strategic Decisions** Exited the RF market to focus on more attractive product categories with higher growth potential.
* **Malaysia Plant** Construction completed, with production starting in 2026, allowing closure of the China facility.
**Performance Analysis**
XP Power navigated a challenging year marked by customer destocking and macroeconomic uncertainty. Despite these headwinds, the company demonstrated resilience through
* **Cost Discipline** Implemented cost-saving measures, particularly in supply chain and manufacturing, leading to improved gross margins.
* **Inventory Management** Reduced inventory levels by 20%, optimizing cash flow and improving customer service.
* **New Business Wins** 12% growth in new business wins, highlighting continued market demand for XP Powers solutions.
* **Strategic Focus** Exiting the RF market allows XP Power to concentrate resources on high-growth areas like Low Voltage and High Voltage Divisions.
**Outlook**
XP Power anticipates improved market conditions in 2026, leading to better financial performance. The company is well-positioned to capitalize on this recovery due to its
* **Innovative Product Portfolio** Strong pipeline of new products and technology solutions.
* **Global Reach** Presence in key markets and a diverse customer base.
* **Improved Operational Efficiency** Streamlined supply chain and cost structure.
* **Strong Balance Sheet** Reduced debt and improved liquidity provide a solid foundation for growth.
**Overall**
XP Powers 2025 results reflect a year of transition, marked by challenges but also strategic progress. The companys focus on innovation, operational efficiency, and market diversification positions it well for future growth as market conditions improve.
Here is the HTML table code comparing the financials and debt year on year for XP Power Limited:
**Notes:** * The table includes key financial metrics such as order intake, revenue, adjusted operating profit, net debt, net debt to adjusted EBITDA ratio, gross margin (adjusted), and operating cash flow.
* The change column shows the percentage change between 2025 and 2024, with constant currency changes noted where applicable.
* The table is based on the financial data provided in the text, which is for the years ended 31 December 2025 and 2024.