Neways’ Net Turnover Grows 12.4% in Q1 2022

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Neways Electronics International N.V. publishes its trading update for the first quarter (Q1) of 2022 ending 31 March 2022.

Highlights:

• Net turnover of € 134.2 million in Q1 2022, an increase of 12.4% from Q1 2021 (€ 119.3 million) and an increase of 12.1% from Q4 2021 (€ 119.7 million), driven by strong demand in all sectors.
• Order intake of € 181.3 million in Q1 2022, an increase of 7.7% from Q1 2021 (€ 168.4 million) and an increase of 39.0% from Q4 2021 (€ 130.4 million).
• Order book of € 411.0 million as per 31 March 2022, an increase of 50.2% from € 273.7 million as per 31 March 2021 and an increase of 12.8% from € 364.3 million as per 31 December 2021.

Developments in the First Quarter

Net turnover in the first quarter of 2022 was € 134.2 million, an increase of 12.4% from the same quarter last year. Demand for Neways’ products in all sectors is strong, driven by trends including the energy transition, the growth of the semiconductor industry and high-grade medical solutions. We also experienced strong traction in rolling-out additional services to our customers, including design for circularity and our remanufacturing offering to extend the lifetime of products. Order intake in the first quarter was up 7.7% compared with Q1 2021 and the order book at the end of Q1 2022 was 50.2% higher than at the end of Q1 2021. 

During the first quarter we continued to be confronted with COVID-19 related absence and disruptions in the supply chain resulting in scarcity of components. Our teams continuously work with our customers and supply chain partners to optimally anticipate and address these issues. For example by leveraging our strong engineering capabilities to re-design products and deploy our procurement teams to identify and access alternative supply routes.

Although Neways does not have operations in, or direct exposure to Ukraine or Russia, we continue to monitor the developments closely, including potential consequences for our supply chains and our customers’ operations. The same goes for the recent COVID-19 restrictions and new lockdowns in parts of China.

CEO Statement

Eric Stodel: “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.

In terms of our strategy roll out, we are well on schedule. We are making increasing headway in our positioning as a System Innovator, focusing on providing our clients with greater added value based on our strong engineering power. We also made further progress in our transformation to OneNeways, which is helping to make our organization more efficient and to optimize the delivery of services to our clients.

Our outlook for 2022, as communicated on 25 February 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. We are experiencing an increasing demand for our solutions and we will continue to invest in innovative technologies that contribute to the energy transition, the growth of the semiconductor industry and high- grade medical solutions.”