Year End Report 2003

Year End Report 2003 Net sales were SEK 1,339.7 million (1,339.2). The loss after tax improved to SEK -27.1 million (-84.4). The loss for 2002 included SEK -50.4 million in items affecting comparability. Earnings per share after tax totaled SEK -2.37 (-7.39). Operating earnings for the fourth quarter amounted to SEK 0.6 million (-54.7). New Assignments Continued to Increase - Operating Profit in the Fourth Quarter Market trends The market declined substantially in the first quarter. Demand subsequently improved and remained relatively stable for the rest of the year. Activity increased during the fourth quarter. Nevertheless, many contract manufacturers were under greater price pressure, primarily due to the depreciation of the dollar. It was a year of change for many contract manufacturers. While some of them intentionally pulled back in the Swedish market, a number of the smaller ones have disappeared. As a result PartnerTech faced new market conditions. The Telecom Infrastructure business unit showed signs of greater demand in the fourth quarter. Sales up to that point had been weak. The sector continued to consolidate in the direction of fewer and larger players during the year. Most customers of the IT/Mechatronics business unit are in the traditional Swedish engineering sector and the IT sector. The first quarter saw a general decline, whereas demand varied from segment to segment for the rest of the year. The number of new assignments increased at the end of the year. Demand for the Medical Equipment business area was relatively stable throughout the year. More stringent requirements on the part of the capital market led to certain changes in the behavior of the various players. PartnerTech develops and manufactures electronic products under contract for leading companies, primarily in telecommunications, IT, the engineering industry and medical technology. The company (www.partnertech.com), which has approximately 1,150 employees, is quoted on the O list of the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/11/20040210BIT20760/wkr0009.pdf The full report in pdf