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© stevanovicigor dreamstime.com Electronics Production | November 01, 2016

Stable third quarter for Neways

Neways Electronics recorded a net turnover at EUR 96.5 million in the company’s third quarter – which brings the YTD-16 net turnover up 3.1% ending up at EUR 294.4 million YoY.
The company’s third quarter order intake increased 3.8% compared to the same quarter last year, and 8.8% on a YTD basis.

Net turnover came in flat at EUR 96.5 million for the quarter on a year-on-year basis, with higher sales contributions from Semiconductor, Automotive and Defence sectors, offset by a lower contribution from Medical.

For the first nine months order intake was solid and increased by 8.8% year-on-year. The order book stood at EUR 184.6 million, compared to EUR 161.8 million at end-September 2015 with a book-to-bill ratio of 1.06. The year-on-year increase in the order book was largely due to new orders in the Automotive, Semiconductors and Defence sector and reflects a longer term visibility, the company states in a press release.

“During the quarter further progress was made with the implementation of our medium- term operational excellence program which we initiated in the second half of 2015. Important steps were taken in key areas as improvement of customer intimacy, standardisation of component procurement processes and supplier reduction. As we recognize meaningful enhancements in our organisational efficiency, most of the impact of our efforts in performance are anticipated to become visible in the course of 2017 and the years after. We are fully committed to become the trusted technology partner of our customers at every stage of their products’ life cycle,” said CEO, Huub van der Vrande.

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