SON, NETHERLANDS – Neways Electronics reported first quarter net revenue of €134.2 million (US$144.7 million), an increase of 12.4% year-over-year and 12.1% sequentially, driven by strong demand in all sectors.

Orders for the period were €181.3 million, up 7.7% compared to the first quarter of 2021 and 39% sequentially.

The order book as of Mar. 31 was €411 million, an increase of 50.2% compared to Mar. 31, 2021, and 12.8% compared to Dec. 31.

During the first quarter, Neways continued to be confronted with Covid-19-related absences and disruptions in the supply chain resulting in a scarcity of components.

Although Neways does not have operations in, or direct exposure to, Ukraine or Russia, the firm continues to monitor the developments, including potential consequences for the company’s supply chains and customers' operations. The same goes for recent Covid-19 restrictions and new lockdowns in parts of China.

"We continue to experience strong demand across our sectors, driven by trends including the energy transition, advancements in medical applications and global demand for semiconductors,” said CEO Eric Stodel. “Although we continue to be confronted with supply chain disruptions, we are working closely with our customers and supply chain partners to optimally anticipate and address these issues.

“In terms of our strategy rollout, we are well on schedule. We are making increasing headway in our positioning as a system innovator, focusing on providing our clients with greater added value based on our strong engineering power. We also made further progress in our transformation to OneNeways, which is helping make our organization more efficient and optimizing the delivery of services to our clients.

“Our outlook for 2022, as communicated on Feb. 25, remains unchanged. The ongoing supply chain disruptions, high energy costs and rising inflation could have a dampening effect on our turnover growth and/or our profitability. Despite this, we are off to a good start for the year. Our order portfolio is well filled, and we will continue to offer high-grade solutions to strengthen our competitive position. We are experiencing an increasing demand for our solutions, and we will continue to invest in innovative technologies that contribute to the energy transition, the growth of the semiconductor industry and high-grade medical solutions."

Ed.: €1 = US$1.08