PartnerTech Year-end Report January - December 2011

Fourth quarter 2011

• Net
sales were SEK 637.9 million (617.6)

• Operating profit was SEK 29.2 million
(6.5)

• Profit after tax was SEK 10.2 million (8.8)

• Earnings per share
after tax totaled SEK 0.81 (0.70)

• Cash flow after investments amounted to
SEK 99.9 million (16.2)

• PartnerTech signed an agreement in October
concerning production

  and delivery of products for Vestas Control Systems
A/S

January-December 2011

• Net sales were SEK 2,322.2 million (2,181.1)

•
Operating profit was SEK 47.3 million (-15.3)

• Profit after tax was SEK 5.2
million (-19.6)

• Earnings per share after tax totaled SEK 0.41 (-1.55)

•
Cash flow after investments amounted to SEK 117.9 million (-31.4)

• The
equity/assets ratio was 39.4% (37.7)

• The board proposes that the annual
general meeting distribute

   no dividend (0) for fiscal year 2011

A word
from the CEO

PartnerTech’s sales for 2011 totaled SEK 2,322.2 million, an
increase of 9.2% in
local currencies compared with 2010, and operating profit
improved
substantially. Higher earnings confirm the impact of the activities
that we have
been conducting to ensure sustainable profitability in all
markets, reduce
capital tied up and set the stage for growth. We upgraded our
internal processes
during the year in order to streamline our operations and
thereby minimize costs
and capital tied up. We have strengthened our sales
organization, which allows
us to focus more on strategically selected
customers. Our goal is to increase
the proportion of sales at higher levels in
the value chain, reinforcing our
position as a full-scale technology and
service partner. Among the action and
restructuring programs that we announced
previously, we have now completed
consolidation of our entire British business
in Cambridge. The programs have
also included our units in Vellinge and Moss.
Meanwhile, we have continued to
pursue a restructuring strategy aimed at
expanding our share of production in
low-cost Eastern European and Asian
countries so as to more fully satisfy the
needs of our customers. At the same
time, we are committed to maintaining our
customer centers in all key strategic
markets. The centers are vital to our
ability to provide our customers with
optimum service through close
collaboration and leading-edge technical skills,
along with flexible and
cost-effective production processes.

Fourth quarter
sales totaled SEK 637.9 million, a 5.6% increase in local
currencies from the
same period of 2010, and our operating margin was 4.6%. The
improved operating
margin was largely due to internal streamlining, which
reduced costs and
capital tied-up, as well as higher sales. The increase in
sales was a direct
reflection of our fortified sales organization.

Developments during the year
have been positive for PartnerTech but as I said in
the third quarter,
uncertainty and volatility in the global markets make it
difficult to foresee
the future. With those challenges in mind, we will
insistently pursue our
strategy of adapting and streamlining our organization in
order to boost our
profitability in each market we serve. The results of our
restructuring and
ongoing internal improvement efforts have been promising so
far. The good
relationships that we have developed with our customers also
represent a
vitally important success factor; much of our effort goes to
nurturing and
building on that collaboration. Although a great deal remains to
be done, the
progress that we have made – along with our competitive
organizational
structure and our broad-based global range of services – provides
a firm
foundation for the future.

Leif Thorwaldsson

President and CEO

For complete
report, please see attached file.

For additional information, please
call:

Leif Thorwaldsson, President and CEO, tel: +46 40-10 26 41

Åke
Bengtsson, CFO, tel: +46 40-10 26 42