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Electronics Production | February 15, 2007

PartnerTech Operating Profit rose 104%

Swedish EMS provider PartnerTech with operations in Norway, Finland, Poland and UK grew heavily during 2006. The growth has its base in organic growth but most of the increase came from the acquisitions of Hansatech in UK and Th Kristiansen in Norway.
PartnerTech's net sales rose by 51.8 % to SEK 3,057.2 million (2,013.9). The operating profit increased to SEK 180.0 million (88.1) and the profit after tax was SEK 122.6 million (53.1).

In the fourth quarter net sales rose by 41.3 % to SEK 800.3 million (566.4). The operating profit increased to SEK 41.7 million (24.0).

Net sales at the Terminals/Machine Solutions business unit rose in 2006 by SEK 542.0 million or 102% to SEK 1,071.7 million (529.7). The increase was 63% for comparable units. Fourth quarter sales declined to SEK 172.8 million, approximately half of what they had been during the second and third quarters. The main reason was that final deliveries of outstanding orders from Tomra were made in October and November. Sales at the Medical Equipment business unit rose in 2006 by SEK 166.2 million or 52% to SEK 487.1 million. SEK 83.5 million of the increase was attributable to acquisitions. A number of customers of both electronic products and entirsystems or modules contributed to the growth.

Sales rose steadily during the year to a fourth quarter figure of SEK 142.9 million, up 30% from the same period of 2005. Sales at the Industry/Telecom business unit increased during 2006 by SEK 335.1 million or 29% to SEK 1,498.4 million. The improvement was SEK 54.9 million for comparable units. Fourth quarter sales were SEK 484.6 million, an increase of 46% from the same period of 2005. The improvement was primarily attributable to a number of customers with Internet and IT businesses.

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