Neways Electronics International N.V. (Euronext: NEWAY) ('Neways'; the 'Company') today announces its trading update for the third quarter (Q3) and the first nine months (9M) ending on 30 September 2020.

HIGHLIGHTS
• Net turnover of € 121.2 million, a decline of 8.9% compared with Q3 2019 and a rise of 4.7% compared with Q2 2020; Automotive sector turnover shows signs of recovery after dip in Q2 2020;
• Order intake of € 90.2 million, a decline of 17.8% compared with Q3 2019 and a recovery of 5.4% compared with Q2 2020 driven by a slight recovery in demand in Automotive and growth in Semiconductor;
• On balance, market sees cautious recovery, but fourth quarter will remain volatile due to Covid-19-related uncertainty; focus in 2020 will remain on cash flow and cost management to protect profitability.

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Neways Electronics International NV published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 07:29:02 UTC