Son (The Netherlands), 13 January 2020 – Neways Electronics International N.V. (Euronext: NEWAY) (“Neways”) today announces that on the basis of the most recent insights it expects to report an operating result of around EUR 15 million for the full year 2019.
As previously indicated, net turnover in 2019 will be higher than in 2018, but the turnover growth in the important month of December was lower than expected and was accompanied by a shift in the product mix. In the fourth quarter, Neways continued to reduce its organisational costs according to plan. However, this came with some reservations due to the expected year-end demand effect which ultimately materialised only to a limited extent. Consequently, the second-half result was slightly lower than the result for the first half of 2019. Neways previously expected the result for the second half of 2019 to be around the same level as in the first half.
At year-end 2019, the order book was well filled. This provides Neways with a good base for the start of the new year. The company will report its 2019 annual results on 21 February 2020.