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© stockfotocz dreamstime.com Electronics Production | August 30, 2016

Neways keeps on truckin'

EMS provider Neways had a stable fist half of 2016 – the company posted higher result all over the board compared to last year.
The company recorded a net turnover at EUR 197.9 million, up 4.7% year-on-year, primarily driven by Automotive and Defence. Order intake increased by 11% year-on-year, and according to the company it was driven in particular by new orders in Automotive and Semiconductors. Order book stood at EUR 184.4 million, compared to EUR 163.0 million at end-June 2015.

Gross margin increased by 2.6% year-on-year to EUR 77.6 million. Positive effect of higher volume was partly offset by increased material components, mainly due to mix changes. Net income came in at EUR 4.4 million, up 29.4% which according tot he company came due to operating leverage and slightly lower finance expenses.

“In the first half year, our order book increased strongly, reflecting the effect of our diversification programme, and the strengthening of our market position in Automotive. We added new clients and won orders in areas such as control systems for e-Mobility. We have largely completed the organisational adjustments we announced at the end of last year and these are now starting to make a positive contribution to the improvement of our normalized operating result, which was more than 20% higher year-on-year,” commented CEO Huub van der Vrande.

In the company’s fiscal release Huub van der Vrande goes on saying that the company will continue to invest in improving its operational processes and customer relationships – without specifying what these investments will include.

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