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April 12, 2019 | NewaysEstimated reading time: 2 minutes
Neways Electronics International N.V. publishes its trading update on the first quarter (Q1) ending on 31 March 2019.
Highlights:
- Net turnover € 132.9 million in Q1 2019, a year-on-year increase of 8.7%
- Order intake increased by 31.8% in Q1 2019, largely driven by strong demand from the automotive industry
- Neways reiterates its forecast 2019: expects to record higher net turnover and operating result in 2019 compared with 2018
Developments First Quarter
In the first quarter, Neways recorded an 8.7% year-on-year increase in net turnover. This increase was entirely organic. The semiconductor, automotive and industrial sectors made the greatest contribution to the higher turnover. Turnover in the medical sector was around the same level as in Q1 2018.
Order intake increased by 31.8% year-on-year in the first quarter, largely driven by the strong demand from the automotive sector for system solutions for electric cars. The demand from other sectors remained healthy. The book-to-bill ratio stood at 1,51 at end-March 2019. The order book increased to € 372.2 million, an increase of respectively 32.1% when compared to end-March 2018 (€ 281.8 million) and 22.4% when compared to year-end 2018 (€ 304.0 million). The increase is largely driven by higher demand in the automotive sector and the order book reflects better visibility in the current year.
CEO Statement
Huub van der Vrande: “We recorded growth in both turnover and our order book in the first quarter. Demand was once again particularly strong in the automotive sector, mainly for e-car system solutions. Our order book is well filled, although we did see some reluctance in some areas of the market due to macro-economic developments. The strong demand and high activity levels, in combination with the scarcity on the market for components and the start-up of new projects once again put a good deal of pressure organisation, as it did last year. This means we need to remain alert and disciplined to follow our clients’ order patterns as efficiently as possible. For the full year 2019, we are well positioned to record higher turnover and operating result than in 2018.”
About Neways
Neways Electronics International N.V. (Neways) is an international company active in the EMS (electronic manufacturing services) market. Neways offers its clients custom-made solutions for the complete product life cycle (from product development to after-sales service) of both electronic components and complete (box-built) electronic control systems. Neways operates in a niche of the EMS market and focuses primarily on small to medium-sized specialist series, in which quality, flexibility and time-to-market play a crucial role. Neways products are used in sectors such as the semiconductor, medical, automotive, general industry and defence industries. Neways has operating companies in the Netherlands, Germany, the Czech Republic, Slovakia and China, and the United States with a total of 2,998 employees at 31 December 2018. Neways recorded net turnover of €506.8 million in 2018.
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