Ad
Ad
Ad
Ad
Ad
Ad
© roza-dreamstime.com Electronics Production | August 28, 2013

Neways posts recovery in first half 2013

The EMS market remains volatile but positive trend are emerging and the second half year is off to a good start for Dutch based Neways.
Dutch Neways Electronics recorded an increase of 6% in turnover and an improved profit in the second quarter compared to the first quarter of 2013. Net turnover for the first half of 2013 came in at EUR 131.4 million, down 9% compared with the same period of last year.

Net profit in the first half of 2013 was EUR 0.9 million, with the first quarter still ending with a slight loss. This profit is excluding a provision of EUR 3.7 million (net EUR 2.8 million) taken in the first quarter for the closure and relocation of the activities of Neways Electronics Echt (NEE). The relocation of activities, which is expected to yield annual savings approximately equal to the provision taken, is on schedule.

In addition, Neways made solid progress in the first half of the year with regards to improvements to the working capital and cash flow management. This resulted in a positive cash flow from operating activities of EUR 4.1 million in the first half of 2013, from a negative cash flow of EUR 4.9 million in the first half of 2012. The order book stood at EUR 69.8 million at the end of the first half of 2013, up 12% from year-end 2012.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
December 13 2017 10:15 PM V8.9.2-2