Interim Report January – September 2012
Activity remained high, sales in line with 2011
Based on local currency, third-quarter sales were in line with the same period of 2011. The same was true of operating profit, which totaled SEK 10 million for the quarter. We were able to compensate for the trend of cutbacks and postponements of the second quarter by means of volumes from the new agreements that we signed earlier in the year. Deliveries based on these agreements began on schedule and remain at a stable level. We also entered into new framework agreements, some of them covering both product development and manufacturing. The latest one covers advanced medical devices where we can leverage our strong development and manufacturing expertise in this field. Activity in our Chinese and American units is high, and we continue to receive many inquiries from potential customers. Our ongoing internal improvement effort continued to favorably impact capital tied-up during the quarter and our financial position improved. As a result, we became even more credible as a stable, long-term partner for customers with operations in Europe, Asia and the United States. Although the European financial crisis has not shown signs of letting up any time soon, we see that manufacturing companies are more disposed to consider outsourcing as an option, which represents an opportunity for us as a contract manufacturer. I believe that this trend, along with our industrial structure and global presence, gives us the possibility to counter economic fluctuations.
Leif Thorwaldsson, President and CEO
Third quarter of 2012
- Net sales were SEK 517 million (536)
- Operating profit totaled SEK 10 million (10)
- Profit/Loss after tax amounted to SEK 1 million (-1)
- Earnings per share after tax amounted to SEK 0.11 (-0.07)
- Cash flow after investments amounted to SEK 30 million (2)
First nine months of 2012
- Net sales were SEK 1,692 million (1,684)
- Operating profit totaled SEK 42 million (18)
- Profit after tax amounted to SEK 14 million (-5)
- Earnings per share after tax amounted to to SEK 1.11 (-0.39)
- Cash flow after investments amounted to SEK 14 million (18)
- The equity/assets ratio was 40% (38) on September 30
For complete report, see attached file.
For more information, please contact:
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41
Åke Bengtsson, CFO, Tel: +46 (0) 40 10 26 42
PartnerTech develops and manufactures products under contract for leading companies, primarily in Information Technology, Industry, CleanTech, MedTech and Instrumentation, Defense and Maritime and Point of Sale Applications. With approximately 1,300 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2,3 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.
PartnerTech AB, corporate identity number 556251-3308
Box 103, Industrigatan 2, SE-235 22 Vellinge, Sweden
PartnerTech (publ) is required to publicly disclose the information in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for public disclosure at 8.30 am on October 24th, 2012.