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Strong H222 with Good Visibility for FY23

XP Power’s FY22 trading update confirmed that its H222 performance was significantly stronger than H122 as supply chain conditions improved. As expected, Q4 order intake moderated as customers adapted to longer lead times. The year-end order book provides good visibility for FY23, and management is optimistic on XP’s prospects for the year. Edison Group have revised their forecasts to reflect moderating order intake and higher levels of debt.

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