London, Jan 19, 2026, 13:14 GMT — Regular session underway.
- XP Power shares jumped 11.8% to 1,012 pence, reaching an intraday peak at that level
- Group expects 2025 profit and EPS to meet market forecasts; order intake increased even as revenue declined
- Company plans to phase out its RF business over roughly three years; full-year results due March 3
Shares of XP Power Ltd soared 11.8% to 1,012 pence in London on Monday. The power control specialist flagged a stronger second half and unveiled plans to ditch its lower-margin radio frequency (RF) division. 1
The company confirmed that full-year profit and earnings per share are expected to meet current market forecasts. It also highlighted a planned wind-down of RF products following U.S. export controls that have limited sales to major Chinese clients. XP Power’s analyst consensus, as of Jan. 19, estimates adjusted operating profit at £17.3 million for 2025, with adjusted EPS at 21.4 pence. 2
Why it matters now: Over the past year, XP Power has focused on steadying revenue, safeguarding margins, and managing debt amid cautious demand from its core markets. Monday’s update offers investors a sharper view of cash flow and highlights which parts of the portfolio management plans to prioritize.
XP Power reported a 24% jump in order intake for 2025, reaching 225.9 million pounds. Revenue, however, slipped 7% to 229.7 million pounds, the company disclosed. Its book-to-bill ratio, a quick gauge of order flow against sales where a number above 1 signals rising demand, came in at 0.98 for the year. The order book stood at 116.1 million pounds as of the end of December. 3
XP Power’s boldest move was the call to wind down its RF division over roughly three years. The unit pulled in 24.3 million pounds in revenue for 2025 and hovered near break-even, boosted by strong final shipments to China, the company said. One major customer has already paid 16.4 million pounds upfront for RF deliveries planned in 2026. 4
The group is also changing its manufacturing setup. Its new facility in Malaysia is finished and slated to start operations in 2026. At the same time, the company has shut down its Kunshan plant in China, a separate statement reported by MarketScreener reveals. 5
Some investors continue to view XP Power through the lens of its recent deal talks. Back in June 2024, Advanced Energy Industries, based in Colorado, pulled a potential £468 million all-cash takeover bid after XP Power turned down an earlier offer, Reuters reported. 6
The shares also bore the impact of a 2023 profit warning, which fueled concerns about a possible cash raise, according to another Reuters report. 7
The upside isn’t without its hang-ups. The RF wind-down might pull management’s focus, while any dip in demand from semiconductor equipment buyers will challenge whether higher order intake actually turns into profit, rather than just swelling the backlog.
Investors are turning their attention to XP Power’s full-year results on March 3. They’ll be watching closely for details on the costs tied to the RF exit, how quickly the Malaysia ramp-up is progressing, and management’s outlook for demand and cash flow in 2026.
