© Neways Electronics Production | February 22, 2018
Neways reports higher turnover and results in 2017
The EMS provider saw its net turnover increase 11.6% in 2017, jumping up from EUR 393.2 million in 2016 to EUR 438.7 million.
The company is crediting the growth to a stronger contribution from the semiconductor and automotive sectors. Order intake increased 21.3% compared with 2016 ending up at EUR 556.6 million, largely driven by new orders in the semiconductor, automotive and industrial sectors. Order book increased to EUR 263.6 million at year-end 2017, from EUR 191.3 million at year-end 2016. Full year gross margin came in at EUR 171.3 million, 11.4% higher than in 2016 on the back of higher activity levels. The normalised operating result came in at EUR 15.3 million in 2017, 20.5% higher than in 2016. Net income was 2.1% higher at EUR 9.9 million, as a result of the improved operating result and reduced financing costs. Net result in 2016 was positively impacted by a recognition of a tax claim in Germany of EUR 1.8 million compared to EUR 0.6 million in 2017. “The year 2017 was in every respect a busy and eventful year, in which the bar was set higher than in the previous year. We saw turnover increase more than expected, by 11.6% to EUR 438.7 million. This shows that Neways is in a good position to grow with clients and benefit from economic growth,” CEO Huub van der Vrande said in the fiscal report. “This rapid growth, however, together with the greater scope and complexity of projects, did have an impact on the organisation. We will need to continue to improve our logistical process this year, so we can continue to work efficiently, particularly in view of the shortages in the market for components that we will certainly have to take into account this year,” van der Vrande continued. Looking at the order book, 2018 is off to a good start. Neways does expect the higher activity levels and persistent shortages on the components market to remain challenges for the organisation. In 2018, Neways will focus on making improvements to its organisation, particularly in the fields of procurement and logistics.
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