© neways
Electronics Production | August 29, 2017
Neways records strong turnover growth
Neways Electronics International N.V. reported 1H/2017 (ending 30 June 2017) net turnover of EUR 213,6 million.
Highlights
- Net turnover rises to EUR 213.6 million, up 7.9 percent year-on-year, largely on the back of strong contributions from Semiconductor, Automotive and Defence.
- Order intake increased by 12.1 percent year-on-year, primarily driven by new contracts at Semiconductor and Automotive. Order book stood at EUR 218.0 million at end-June 2017, up from EUR 184.4 million at end-June 2016.
- Gross margin at EUR 84.8 million, an increase of 9.3 percent compared with the first half of 2016, on the back of higher sales and the realisation of purchasing benefits.
- Normalised operating result at EUR 7.2 million, in line with the first half of 2016. Faster than anticipated growth in activity levels and late deliveries due to scarcity in the components market resulted in inefficiency in the production process and the greater use of temporary staff. In addition, Neways made extra investments in the organisation to facilitate the realisation of larger and more complex development projects, which had a dampening effect on the operating result.
- Net income came in 11.4 percent higher at EUR 4.9 million, due to a one-off tax gain of EUR 0.4 million and lower interest expenses.
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