Neways: structurally stronger as a company with BuS

Neways booked an operating result of EUR 10.1 million, compared with EUR 9.0 million in 2014. Net profit from ordinary operations came in at EUR 6.2 million in 2015, up from EUR 5.3 million in 2014. The company's turnover increased by 21% in 2015. In the first half, this growth was due entirely to the consolidation of BuS Group. Turnover stabilised in the second half of the year, due to a large extent to more stringent inventory controls by our clients. Huub van der Vrande, CEO commented: “The year 2015 was an important year of transition for Neways. A better spread across the various market segments, to which the acquisition of BuS Group made a clear contribution, has transformed Neways into a structurally stronger company. In 2015, we also introduced the groupwide improvement programme ‘Up to the next level’, the aim of which is to align the organisation optimally with increased market dynamics.” “The basic goals are to create a more efficient organisation and a better balance in capacity utilisation. The first effects of this are already becoming visible, resulting in a more stable performance of the various operating companies. In line with the improvement programme, in December 2015 we announced that we were making changes to the organisation of the operating company Neways Cable & Wire Solutions and planned to reallocate Neways Micro Electronics activities in China. These changes will result in the loss of 15 jobs in the Netherlands,” he continued.