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Electronics Production | March 31, 2010

Partnertech: operating loss of SEK 3.5 million

Sweden-based EMS-provider Partnertech plummeted from an operating profit of SEK 28 million in 2008 to a loss of SEK 3.5 million in 2009.
As many EMS-providers likewise, Sweden-based EMS-provider PartnerTech saw net sales decline by 15%—from SEK 2’529 million in 2008 to SEK 2’148 million in 2009, the company writes in its annual report.


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“We were able to sustain sales in the first quarter by mobilizing every ounce of our organizational flexibility. Because customers adjusted their volumes to avoid the risk of stockpiling, we did not experience normal seasonal revenue growth in the second quarter. But they replenished their inventories after the third quarter vacation period and we did quite well in September. Fourth quarter sales returned to levels typical of the second quarter and most of the third quarter”, Rune Glavare, President and CEO of Partnertech.

“Due to the recession, some of our suppliers have substantially reduced their capacity. As a result, the upturn may be slower than the market would have liked. Nevertheless, the European contract manufacturing industry expects growth to average 4-5 percent next year (lingering weakness in the western countries and strength in the eastern countries)”, he continued.

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