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29
August
2012

Neways profit lags, announces acquisition

Neways recorded an increase in net turnover in the first half of 2012 but net profit lagged behind. The company has also reached a deal to purchase the development activities of IACS.
Net profit dropped to 2.2 million euros in the first half of 2012, lower than the 3.2 million euros reported in the first half of 2011.

In the first six months of 2012, gross turnover increased by 0.6% to 157.3 million euros, from 156.4 million euros in the first half of 2011. Internal turnover remained unchanged from the same period of last year. Net turnover was up 0.6% at 144.4 million euros.

The order book stood at 67.8 million euros at end-June 2012, slightly lower than the EUR 68.8 million at end-June 2011.

Purchase of IACS

The deal will go through as of 1 September 2012. The company's financial statement said about the acquisition:

“The acquisition is an excellent fit with Neways’ strategy and constitutes a further step towards the expansion of the greater added value activities in the field of development and engineering of electronic systems. The activities will in the near future be moved to or near the high-tech campus of Twente University. This move will also make Neways’ more attractive in the employment market for technical engineers in the Twente region. The acquisition involves around 10 developers, assets and some clients new to Neways that are active in various segments of the EMS market”.
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