In the first half of 2019, Neways recorded a net turnover of 264.5 million euros. This 7 percent year-on-year increase was largely driven by a stronger contribution from the semiconductor and automotive sectors and to a lesser extent from the industrial sector. Medical and defense remained stable. The Son-based EMS specialist did see the net result decline by 25 percent to 5.1 million euros, mainly due to costs incurred for balancing production across locations and for starting production for new products. Order intake was 7 percent higher than in the first half of 2018, largely due to new e-mobility orders. The order book stood at 342.6 million euros at end-June 2019, a 14 percent year-on-year increase.
“Following the record turnover recorded in 2018, we continued on our growth path in the first half of 2019, due in part to the strong demand for e-mobility solutions,” comments Neways CEO Huub van der Vrande. “Our order book remains well filled across the board and pressure on deliveries is continuing, although geopolitical tensions have led to a slight decline in the pace of growth and certain clients are postponing orders, mainly in the semiconductor sector. Growth was also less predictable in the first half of 2019, which led to a temporary imbalance in the capacity utilization within the group. In addition to the extra costs related to the relocation of certain products within the group, we also made investments in the start-up for new products.”