EINDHOVEN, THE NETHERLANDS – Neways Electronics recorded net revenue of 308.6 million euros ($345.2 million) in 2014, up 16.5% year-over-year.

Net profit increased to 7 million euros, up from 1.9 million euros in 2013.

Growth in revenue and profit was largely due to a relatively good first half, the consolidation of BuS Group, and demand from the automotive sector, the firm says.

At year-end, the order book stood at 155.9 million euros, compared with 68.5 million euros at the end of 2013.

In a statement, Neways said the structural long-term outlook for the EMS market is generally positive for companies like Neways, and the firm is in a healthy financial position for 2015, suggesting room for investment in further growth.

Ed.: Euro 1 = US$1.1184