Despite the challenges, Neways is off to a good start
During the first quarter the EMS provider continued to be confronted with COVID-19 related issues and disruptions in the supply chain stemming from the scarcity of components. Despite this, Neways is starting 2022 on a strong note.
The company recorded first quarter 2022 net turnover of EUR 134.2 million, an increase of 12.4% from EUR 119.3 million during the first quarter of 2021 and an increase of 12.1% from the fourth quarter 2021, driven by strong demand in all sectors.
Neways saw its first quarter 2022 order intake increase 7.7% to EUR 181.3 million from EUR 168.4 million during the same quarter last year, and an increase of 39.0% from the fourth quarter 2021.
“We continue to experience strong demand across our sectors, driven by trends including the energy transition, advancements in medical applications and global demand for semiconductors. Although we continue to be confronted with supply chain disruptions, we are working closely with our customers and supply chain partners to optimally anticipate and address these issues,” says CEO Eric Stodel in the report
Although Neways does not have operations in, or have a direct exposure to Ukraine or Russia, the company says that it continues to monitor the developments closely, including potential consequences for its supply chains and our customers’ operations. The same goes for the recent COVID-19 restrictions and lockdowns in parts of China.
The CEO continues to say that the company’s outlook for 2022 remains unchanged.
“The ongoing supply chain disruptions, high energy costs and rising inflation could have a dampening effect on our turnover growth and/or our profitability. Despite this, we are off to a good start of the year. Our order portfolio is well filled and we will continue to offer high-grade solutions in order to strengthen our competitive position,” says Mr. Stodel.
Mr. Stodel concludes his comments stating that the company is experiencing an increasing demand and that it will continue to invest in technologies that contribute to the energy transition, the growth of the semiconductor industry and highgrade medical solutions.