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28
February
2007

Nordic EMS top 10

Telecom makes difference in the Nordic EMS ranking. See evertiq's list of the Nordic's largest EMS providers.
If we exclude Elcoteq, which has chosen the corporate reporting structure SA (Societas Europaea) Partnertech has taken the lead in the Nordic EMS ranking as the Swedish company, through strong organic growth and the acquisitions of Th Kristansen in Norway and Hansatech in the UK, has passed its Finnish competitor Scanfil.

Partnertech has through its acquisitions and its strong organic growth managed to increase its turnover from 213.8 MEUR in 2005 to 325.5 MEUR which has given the company a top rank in the Nordic EMS league. Noticeable is also that the Swedish EMS company NOTE appears to tighten the gap up to its Norwegian competitor Kitron.

(Media Not Available)

The EMS companies in the Nordic have shown mixed results on a tough market during the last years. Those who have managed to adapt to the shifting market conditions have succeeded best. Finnish Elcoteq, the Nordic's absolutely largest EMS provider, which has changed its corporate identity from Finnish to European, has during the last years been restructuring its business to adapt to the current market and the current condition of its customers as one of its largest customers Nokia has decided to transfer its manufacturing to other low-cost regions. The same goes for Incap and Scanfil. Large volume manufacturing sites have become much smaller units adapted for small and medium sized volumes and prototypes while the larger volumes have been transferred to Eastern Europe or Asia. The Danish, Swedish and Norwegian companies have faced the same development and the heaviest impact has the huge decline in the Telecom segment caused. Elektromekan lost 20 million euros in turnover over only one year which made the company slip out from the top 10 ranking.

Most of the companies have now discovered that some of the out-moved orders have turned back to the Nordic and 2006 was a great year for the Nordic EMS industry. LEAB Group, had a strong growth in 2006 mainly through the acquisition of the profitable local EMS provider Elektronik Produkter i Järlåsa AB but also through its strong organic growth. In the top of the ranking we find PartnerTech that, through the acquisition of Hansatech in the UK and Th Kristiansen in Norway, surpassed the Finnish EMS provider Scanfil in the rankings. So far there is a huge gap up to the giant Elcoteq SA that had a turnover of 4,3 billion euros in 2006. In the table only the Nordic EMS providers are presented. Elcoteq SE and Enics AG are considered as companies with its base outside of the Nordic and therefore they are not in the list. Many of the companies in the list also has sales outside of the Nordic included in the figures.

The unfilled gaps in the tabled are non reported figures.

In the Nordic there are a couple of major players operating as well as the Nordic based. Flextronics SBS units in Swedenn Denmark and Norway are also to count in as major players in the Nordic EMS market. The same goes for Solectron and Sanmina-SCI. Flextronics has during the last years restructured its business in Sweden and adapted it to the Nordic market. Units have been sold to Swiss-based Enics AG that also are to count on in these discussions. Enics Group had a turnover of 279 MEUR in 2006. Flextronics Norway today has a turnover of about 25 million euros and in Sweden the Flextronics organisation has been reduced during the last years. Flextronics fiscal year ending March 2005 posted revenues of 230 million euros at negative results while the turnover for the fiscal year ending March 2006 reached 130 million euros with negative results. Right now the financial situation at Flextronics is much more stabilized and the company, without reporting any figures, reveals that the business is back on track.

Notable in the list is also that GPV's results include some PCB manufacturing. Almost one fifth of GPV's turnover are from its PCB divisions.
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