Neways Records Higher Turnover and Order Intake in Q1 2017
April 19, 2017 | Neways Electronics International N.V.Estimated reading time: 2 minutes
Neways Electronics International N.V. today announced its trading update for the first quarter ending 31 March 2017.
Highlights
- Q1-17 net turnover at € 107.6 million, up 9.5% year-on-year
- Order intake up 13.1% year-on-year for Q1-17
- Higher activity levels fuelled by demand for early stage development and co-engineering activities
- FY-17 outlook reiterated: higher net turnover and operating result anticipated compared to FY 2016
First Quarter Developments
In the first quarter, net turnover increased fully organically by 9.5% on a year-on-year basis, with higher sales contributions from semiconductor, automotive and defense sectors. Sales in industrial and medical sectors remained approximately stable. Supported by the application of its life cycle management tool, Neways is gradually intensifying partnerships with several existing (long term) customers, while at the same time new customer leads are generated.
During the first quarter the order intake increased by 13.1% year-on-year. The order book stood at €205.9 million, compared to €177 million at end-March 2016 with a book-to-bill ratio of 1.10. The increase in the order intake and order book reflects continued growth, particularly in the Semiconductor and Automotive sectors. The order book is also higher compared to year-end 2016 (€191.3 million).
Huub van der Vrande, CEO, commented, "We saw a busy, good start of the year. Order intake and turnover showed healthy growth which was partly driven by increased early stage involvement in development and co-engineering of electronic components and control systems. This reflects our improved recognition as trusted partner and one-stop-provider for product life cycle management for OEMs and demonstrates the added value, flexibility and cost-effective solutions we offer our customers.
In the quarter, we also continued the roll out of our group-wide improvement programme 'Up to the next level' which has resulted in further improvements of operational processes and efficiency gains. These improvements were offset by higher staff costs, due to the increase in engineering activities and related team expansion as well as high utilization of our production staff flex pool. We will monitor these developments and the effects they have on the business closely. For the full year 2017, we reiterate our outlook and expect to record a higher net turnover and operating result compared to 2016."
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 semi-conductor, medical, automotive, telecom and defence industries. Neways has operating companies in the Netherlands, Germany, the Czech Republic, Slovakia and China, with a total of 2.612 employees at 31 December 2016. Neways recorded net turnover of € 393 million in 2016. Neways shares are listed on the Euronext Amsterdam stock exchange (symbol: NEWAY). For more information, click here.
Suggested Items
Kitron's Q3 Results Reflect Global Market Dynamics
10/25/2024 | KitronKitron reported quarterly figures that are impacted by challenging markets but also demonstrate actions taken to adapt to market shifts by leveraging the group’s global capabilities.
Rogers Reports Q3 2024 Results; Improved Operating Margin Drives Further Earnings Growth
10/25/2024 | Rogers CorporationNet sales of $210.3 million decreased 1.8% versus the prior quarter resulting from lower sales in the AES and EMS business units. AES net sales decreased by 2.9% primarily related to lower EV/HEV, ADAS and industrial sales, partially offset by higher aerospace and defense (A&D) and wireless infrastructure sales.
Amphenol Reports Record Third Quarter 2024 Results
10/25/2024 | BUSINESS WIREThe Company continues to deploy its financial strength in a variety of ways to increase shareholder value. During the quarter, the Company purchased 2.7 million shares of its common stock for $176 million and paid dividends of $132 million, resulting in total capital returned to shareholders of $308 million.
U.S. Army Awards RTX's Raytheon TOW Contracts for $676 Million
10/24/2024 | RTXRaytheon, an RTX business, was awarded $676 million to continue manufacturing the tube-launched, optically-tracked, wireless-guided TOW® weapon system for the U.S. Army.
Mycronic Releases Interim Report January-September 2024
10/24/2024 | MycronicOrder intake was basically flat in the third quarter, with decreases in Pattern Generators and High Flex compensated by increases in High Volume and Global Technologies. Net sales increased 40 percent, driven mainly by Pattern Generators, but with High Volume and Global Technologies also supporting the positive development.