Electronics Production | April 24, 2008
Partnertech’s revenue decreases in Q1
EMS-provider PartnerTech announced a net sales decrease to around €65 million (from €73 million) for Q1/08. The reduction from the first quarter of 2007 of round €7,5 million or 10.3% was due to lower demand, particularly from customers in the Industry/Telecom business segment.
The decline from the fourth quarter of 2007, which was more generally distributed among the various business segments, stemmed primarily from the market situation of each customer. Exchange rate fluctuations reduced operating earnings by more than €100000 in the first quarter. In particular, the Polish zloty was stronger and the U.S. dollar was weaker. Furthermore, PartnerTech was indirectly affected by the fact that prices and demand for the products of its customers vary along with major exchange rate fluctuations. Divestment of the Åbo and Järfälla units, as well as electronics operations in Åtvidaberg, boosted operating earnings by more than €300000. Return on operating capital was -4.0% (12.4) during the quarter.