EarningsQ2 2026 Earnings Report
DE:4XP Q2 2026 EPS Results
Actual EPS€0.17
Consensus EPS€0.15
Beat/MissBeat by +€0.02
One Year Ago EPS<€0.01
DE:4XP Q2 2026 Revenue Results
Actual Revenue€127.40M
Expected Revenue€70.76M
Beat/MissBeat by +€56.63M
YoY Revenue Growth-1.62%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
DE:4XP Upcoming Earnings
XP Power's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and commercial momentum: exceptional order intake (up 55%) across all regions and sectors, significant margin expansion (gross margin +450bps) and a return to adjusted profitability and positive EPS. The completed Malaysia facility, targeted capacity increases and a strengthened order book provide clear visibility into H2 and support management's unchanged full‑year guidance. Key near‑term risks are manageable: the headwind from U.S.‑China export license expiries and the deliberate exit from the Chinese RF market reduced Asia revenue, working capital was intentionally increased (inventory +29%) which lowered cash conversion in the half, and supply‑chain/qualification timing could affect conversion of the strong order book. Overall, positives materially outweigh the negatives, with the business positioned for continued revenue and margin expansion if capacity ramps and supply constraints are managed.Company Guidance
Record Order Intake and Momentum
Order intake reached GBP 167.2m, up ~55% year‑on‑year (48% sequentially in constant currency). Momentum built through the half with Q2 stronger than Q1 and broad‑based growth across all sectors and regions.
Strong Semiconductor Demand
Semiconductor manufacturing equipment orders surged ~116%, driven by the start of a multiyear wafer fab investment cycle and both new wins and wallet‑share gains; semiconductor sector book‑to‑bill hit a record 1.81 (group book‑to‑bill 1.53).
Revenue Growth and H2 Visibility
Revenue was GBP 109.1m, +2% in constant currency (‑2% at actual FX). The firm order book grew by GBP 58m to GBP 174m and includes GBP 135m of firm orders scheduled for H2, supporting guidance of at least GBP 135m H2 revenue and at least GBP 244m full‑year revenue.
Material Margin and Profitability Improvement
Adjusted gross margin increased 450 basis points to 45.9%. Adjusted operating profit rose 23% in constant currency to GBP 8.6m and adjusted operating margin improved 360 basis points to 7.9%. Adjusted diluted EPS improved to 14.2p (from 0.4p).
Cashflow, Balance Sheet and Deleveraging Plan
Adjusted EBITDA was GBP 16.3m and operating cash generated GBP 8.4m. Net debt was GBP 47.7m (up GBP 6.2m) with leverage 1.3x; management expects leverage to be approaching ~1x by year‑end and to reduce further as revenue grows, enabling dividend reinstatement when prudent.
Operational Investment and Capacity Expansion
Completed Malaysia facility on budget (total Malaysia build GBP 20m) with customer shipments expected in Q4; invested GBP 2.7m in production capacity (Vietnam GBP 1.6m, Malaysia GBP 1.1m) and plan to increase Asian manufacturing line capacity ~75% vs H1. Recruited and trained over 1,200 staff in Vietnam.
Sector Breadth and Diversification
Order growth was broad: Semiconductor +116%, Industrial Technology up ~21–22%, Healthcare orders up 25%, giving a more resilient base rather than reliance on a single market.
DE:4XP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed