Powering the World's Critical Systems

Driving sustainable growth

WE ARE DRIVING SUSTAINABLE GROWTH

We have performed extremely well in a period of unprecedented difficulty throughout the COVID-19 pandemic demonstrating the resilience of our business model.

OUR PURPOSE, VISION, STRATEGY, VALUES AND CULTURE

We link our purpose, vision, strategy, values and culture to clearly communicate to our colleagues and drive our business forward. This alignment ensures we can create sustainable value today and into the future for the benefit of our stakeholders.

Our purpose

Why we exist:

We power the world’s ciritcal systems.

Being a purpose-led business:

We add genuine vale to our customers helping them get to market quickly with complete power solutions. Our people understand where we create value for the customer.

Our Vision

Where we want to be:

To be the first-choice power solutions provider delivering the ultimate experience for our customers and our people.

Our Strategy

How we will deliver our vision:

We have a well articulated strategy that we have continued to refine and consistently execute over a significant period of time.

Our Core Values

Our fundamental beliefs for continued success:

Our core values of Integrity, Knowledge, Flexibility, Speed and Customer Focus are our DNA and are fundamental to our continued success.

Our Culture

Our unique character and ecosystem:

We place our people and customers at the heart of everything we do. We understand that if we provide our people with the ultimate experience they will provide the ultimate experience to our customers.

OUR MARKET SECTORS

Every piece of electronic equipment requires a power converter to operate. Numerous products in our daily lives contain our power conversion solutions. We do not see these power systems as they are embedded in our customers’ equipment.

Chief Executive Officer Succession

A photo of Duncan Penny

Duncan Penny
Chief Executive Officer

(Retired as CEO 31 December 2020)

“It has been a real privilege to lead such a talented and passionate team of people and experience the Group grow from a distributor to a design manufacturer and leader in its industry.”

Gavin Griggs
Chief Executive Officer

(Appointed 1 January 2021)

“XP Power is a successful, long-term business with excellent prospects. I am looking forward to leading the Group into its next phase of development.”

Highlights

  • Gross margin increased to 47.2% due to manufacturing efficiencies from increased production to meet demand.
  • Further production and supply chain optimisation across the group, including the transfer of low-power, high voltage DC-DC manufacturing from Nevada to Vietnam
  • Strong growth in order intake and revenue driven by the recovery in the Semiconductor Manufacturing Equipment sector and demand from our Healthcare customers as they increased supply of critical care devices for the treatment of COVID-19, offsetting weakness in Industrial Technology sector.

Performance

James Peters

Chairman

“We made significant strategic progress in 2020 and produced an excellent set of results in a difficult environment.”

Gavin Griggs

Chief Executive Officer

(Appointed 1 January 2021)

“The Group produced an excellent set of results while ensuring the safety and wellbeing of our people, and we continued to make good strategic progress despite the challenges of navigating through the COVID-19 pandemic.”

Johan Oliver

Acting Chief Financial Officer

“The Group delivered excellent financial results in 2020 against the backdrop of the unprecedented challenges of COVID-19, reflecting the resilience of the Group and our people.”