Interim report January - September 2001

· Net sales totaled SEK 811.2 million (852.8). · Including items affecting comparability, the profit after financial items was SEK -41.6 million (94.2). Excluding items affecting comparability, the loss after financial items was SEK -19.8 million (71.8). · Including items affecting comparability, earnings per share after full income tax were SEK -3.81 (8.76). Excluding items affecting comparability, earnings per share after full income tax were SEK -1.90 (6.68). · PartnerTech and Skanditek signed, in October, a letter of intent for the acquisition of Vellinge Electronics, a leading Swedish contract manufacturer of electronic products. Vellinge reports annual sales of some SEK 500 million. PartnerTech expects to take over in December 2001. Demand is shifting among the various market segments Action program is proceeding according to plan Market trends General demand in the telecom infrastructure segment has continued to decline. Thus the invoiced sale during the third quarter amounts to approximately half of the sale for the corresponding period last year. Although there were major variations among PartnerTech's customers, demand in the IT/mechatronics segment generally remained stable. The medical equipment segment continued to exhibit solid growth. Net sales, profit and profitability Net sales for the first nine months declined from the same period of 2000 by 5% to SEK 811.2 million (852.8). Volumes fell by 12% for comparable units during the first three quarters. For the third quarter isolated the corresponding figure was 23 percent. Lower volumes in the telecom infrastructure segment and fluctuations in the sales mix depressed the operating margin. Excluding items affecting comparability, the operating profit for the first nine months totaled SEK -11.1 million (79.5). Group's performance per quarter SEK million Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 1999 1999 2000 2000 2000 2000 2001 2001 2001 Net revenue 171.2 238.1 250.4 327.0 275.4 335.7 310.5 289.1 211.6 Operating 17.8 17.3 20.5 34.5 24.5 18.2 4.4 - 4.2 -11.3 profit Operating 10.4% 7.3% 8.2% 10.6% 8.9% 5.4% 1.4% -1.5% -5.3% margin* * Excluding items affecting comparability (SEK 22.4 million for Q2 2000, SEK 1.8 million for Q4 2000, and SEK -21.8 million for Q2 2001). The SEK 21.8 million action program announced during the second quarter and reported as an item affecting comparability proceeded essentially according to plan. The program had only a limited effect on earnings during the period. The impact of the measures will gradually increase until reaching fruition in the first quarter of 2002. PartnerTech is continuously making adjustments and improvements in order to adapt total costs to market trends. The SEK 24.2 million in items affecting comparability for the same period of 2000 consisted of a pension refund from SPP. The Group's financial revenue and expense for the first nine months of 2001 totaled SEK -8.7 million (-7.7). The loss after financial items was SEK -41.6 million (94.2) for the period. The loss included goodwill amortization of SEK -4.1 million (- 3.3). ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00940/bit0001.doc Full Report http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00940/bit0001.pdf Full Report