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Electronics Production | June 10, 2008

Neways expects first-half profit of €1.5 to 2.0 million

Neways Electronics expects net profit for the first half of 2008 to be between €1.5 and 2.0 million. The drop compared to the €7.8 million in the exceptionally strong first half of 2007 is due mainly to lower order volumes.
After a relatively solid start to 2008, Neways has in recent months been faced with a lower order intake, largely from the semiconductor segment. In addition Neways’ results have also been affected by a temporary slowdown in activity on a major project in the defence sector, caused by external factors.

In other segments, such as the automotive, industrial and medical segments, the order intake and turnover have been in line with expectations on balance and the company has realised good operating margins. Cost levels within the organisation have, where necessary already been adjusted to current activity levels. Neways strategic priority remains to organise the company step by step in such a way as to make the development of returns more resilient in the face of market fluctuations.

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