Half Year financial report
PartnerTech Interim Report January – June 2015
Strong growth and improved profitability
In the second quarter, sales in local currencies rose by 19 percent compared with the corresponding period in 2014. Over the quarter, the adjusted consolidated operating loss improved to SEK 4 million. The second quarter was eventful for PartnerTech with Scanfil Oyj presenting a public takeover bid to PartnerTech’s shareholders, offering to acquire all shares in the company. In this extraordinary situation, we are continuing to focus on improving our operations. During the quarter, we signed several new framework agreements and won orders from customers in the Oil&Gas and Defence segments. As a consequence of the new orders, the Metal Precision division has improved somewhat, with its utilization level already having risen by the end of the quarter. The Electronics division reported continued strong growth, while the ramp-up in China also affected profitability for this quarter. Systems Integration also reported strong growth and the division’s profitability continues to improve.
Leif Thorwaldsson, President and CEO
Second quarter of 2015
Net sales were SEK 678 million (540)
Adjusted operating profit totaled SEK -4 million (-8)*
Profit/Loss after tax was SEK -15 million (-28)
Earnings per share after tax amounted to SEK -1.19 (-2.20)
Cash flow after investments amounted to SEK -25 million (-28)
First half of 2015
Net sales were SEK 1,304 million (1,087)
Adjusted operating profit totaled SEK -3 million (-8)*
Profit after tax was SEK -17 million (-30)
Earnings per share after tax amounted to SEK -1.38 (-2.37)
Cash flow after investments amounted to SEK -22 million (-43)
The equity/assets ratio was 31% (37) on June 30
*Adjusted operating profit, defined as operating profit excluding comparison distortion items
For complete report, see attached file.
For more information, please contact:
Leif Thorwaldsson, President and CEO, Tel: +46 705 832650
Åke Bengtsson, CFO, Tel: +46 733 162755
PartnerTech AB (publ.) is obligated to make the disclosures in this report public pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for public disclosure at 8.30 am on July 16th, 2015.
PartnerTech is a global industrial partner offering customized solutions throughout the product lifecycle, from product development to manufacturing and aftermarket services, in a number of market areas such as MedTech and Oil&Gas. With approximately 1,400 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2.2 billion. PartnerTech AB , the parent company, has its head office in Malmö, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange. For more information www.partnertech.com.