We continue to expand our product portfolio to further penetrate our key customers where we are already approved or preferred.
We have a broad exposure to the Healthcare, Industrial and Technology Markets. We therefore have a diverse customer base of over 3,500 customers and approximately a further 5,000 customers serviced through our distribution channels.
We deal with the following proportions of the Standard & Poor’s 500 Equipment Manufacturers:
The diversity of our business is a significant strength with no one customer exceeding more than 7% of revenue. Further, there is no one dominant player in the markets we address due to the diversity of customer requirements.
Industrial Revenue (£ millions)
Industrial remains our most diverse end market. North America showed a cyclical weakness in this sector from the third quarter of 2015 but we have seen recovery in 2016.
Healthcare Revenue (£ millions)
Gains from corporate approvals at the major blue-chip customers.
Technology Revenue (£ millions)
Technology continues to be the most cyclical sector but has swung back in 2015 and 2016 with the semiconductor manufacturers contributing strongly.
North America Revenue (US$ millions)
The North American market shows steady momentum driven by larger opportunities in blue-chip accounts then aided in 2016 by the acquisition of EMCO.
Europe Revenue (£ millions)
The market in Europe has been mixed. It has been more difficult to grow in the markets such as the UK where the Group already has a strong share and the programmes are more project based. However, the strategy of targeting the larger customers is now paying off and resulting in the third successive year of growth in challenging markets.
Asia Revenue (US$ millions)
In prior years, the Asia business had benefitted from one usually large account which peaked in 2011 and reduced to zero in 2013 when the programme went end of life. The Asian business is now showing steady growth from customers that place value on XP Power’s value proposition.
We estimate that XP Power has a 6% share of the available global market.
Source: MicroTech Consultants 2016 Report