EINDHOVEN, THE NETHERLANDS – Neways Electronics reported 2018 net revenue of €506.8 billion ($574.5 billion), an increase of 15.5% year-over-year due to strong demand, primarily in the semiconductor and automotive sectors.

Net income at the EMS company was up 45.5% to €14.4 million. Operating income increased 43.8% to €22 million.

Orders rose 15.3% to more than €300 million.

“Last year was a record year for us, both in terms of turnover and profit,” said CEO Huub van der Vrande. “We passed the turnover mark of €500 million. We are seeing a continued rise in the demand for more complex box-build systems, and our positioning as a product lifecycle partner is gaining traction. However, the high demand from clients in combination with the scarcity of components is putting pressure on our organization and creating extra challenges. We had to do more to serve our clients and get our orders delivered. This led to extra costs and higher use of capital. To facilitate our continued growth with our clients, we have expanded our production capacity in Germany and China.”

Ed.: €1.13 = US$1