Year End Report for 2004

Increased Market Share Boosts Revenue and Earnings Net revenue rose to SEK 1,737.6 million (1,339.7). Operating earnings were SEK 64.9 million (-18.7). The profit after tax was SEK 35.5 million (-27.1). Earnings per share after full income tax was SEK 3.11 (-2.37). PartnerTech's board is proposing a per-share dividend of SEK 0.50 (0.0). Revenue was up by 30% and operating earnings by SEK 83.6 million.

Market Trends After several years of decline, prospects for the Swedish contract manufacturing market were stable in 2004. The telecom and defense industries grew most rapidly. Market conditions improved for PartnerTech’s customers during the year. Demand by existing customers rose most for telecom infrastructure and remained relatively unchanged for other sectors. The large increase in PartnerTech’s revenue stemmed primarily from greater market share as a result of new customers and assignments. PartnerTech signed a number of major new contracts during the year. All of the new assignments were high up in the value chains of the products. Most of the products were complete, multi-component and highly complex. That kind of assignment requires close cooperation between PartnerTech and its customer, particularly when it comes to the type of manufacturing, production and purchasing decisions that optimize production while maintaining superior quality.