January–March 2005 Interim Report

Growth in Revenue and Operating Earnings Net revenue rose to SEK 471.0 million (381.1). The operating profit amounted to SEK 19.1 million (10.7) for the quarter. The profit after full income tax was SEK 11.1 million (4.7). Earnings per share after full income tax totaled SEK 0.97 (0.41).

Market Trends The prospects for the contract manufacturing market remained largely the same during the first quarter as at the end of 2004. Thus, most sectors continued to experience unchanged demand. PartnerTech’s customers faced stable overall market conditions during the quarter. With the exception of renewed demand growth in the defense sector, the various business units exhibited comparable trends despite variations from segment to segment. The tendency among PartnerTech's customers to outsource operating responsibility at a more advanced technical level accelerated. That is particularly advantageous for contract manufacturers that can handle complex, multi-component products.