Neways Electronics International N.V. announced unaudited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported turnover of EUR 438.7 million, normalized operating profit of EUR 15.3 million, profit from ordinary activities before taxes of EUR 13.7 million, profit from ordinary activities after taxes of EUR 10.0 million, net profit of EUR 9.9 million, cash flow from operating activities of EUR 3.2 million, investments in intangible fixed assets of EUR 0.1 million, investments in tangible fixed assets of EUR 6.5 million compared to the turnover of EUR 393.2 million, normalized operating profit of EUR 12.7 million, profit from ordinary activities before taxes of EUR 10.6 million, profit from ordinary activities after taxes of EUR 9.2 million, net profit of EUR 9.7 million, cash flow from operating activities of EUR 10.6 million, investments in intangible fixed assets of EUR 1.4 million, investments in tangible fixed assets of EUR 6.2 million a year ago. Operating cash flow decline 69.9%, largely due to an increase in working capital driven by the strong increase in activity levels, partly offset by the higher operating result. Net debt stood at EUR 37.2 million at year-end 2017, up 24.0% compared to year-end 2016, largely due to the refinancing of working capital. Last twelve months EBITDA increased by 17.0% to EUR 23.4 million, from EUR 20.0 million at year-end 2016. As a result, the net debt /EBITDA ratio came in at 1.6, a slight decline compared to year-end 2016. The increase in net turnover was largely due to higher turnover in the semiconductor and automotive sectors, with the latter among other factors driven by activities in e-Mobility.

Based on the economic outlook and the current order book, the company expects net turnover and the normalized operating result for the full year 2018 to be higher than in 2017.