CONTINUED STRONG CASH FLOW AND INCREASED PROFIT IN THE SECOND QUARTER
Net sales for the first half-year totalled SEK 684.4 (731.2) million. Operating profit (EBIT) for the period was SEK 71.1 (99.2) million, which is equivalent to an operating margin of 10.4 per cent. Liquid assets at the end of the period totalled SEK 150.1 (168.0) million.
“In the second quarter, HiQ can report a good performance in what, in some respects, has been a challenging market. We have strengthened our order books with new framework agreements with key clients, and have created solutions in areas such as mobility and web platforms. In the second quarter we continue to recruit, increase our profit and improve our margin. We are maintaining a strong cash flow with a robust balance sheet,” says Lars Stugemo, President and CEO of HiQ.
The use of IT is growing rapidly in today’s society. Innovative clients understand the benefits that are to be reaped by using the latest technology to simplify people’s lives. HiQ works closely with its clients, always putting together first-class teams with the best experts. HiQ specialists are committed and ambitious employees, bringing not only knowledge and creativity to the table, but also that all-important little extra. Their ability to put the customer first and create the best solutions is the foundation on which HiQ’s success is built.
“IT and communication have never been more fun. Fifteen years ago we used to think that progress was quick, but that was nothing compared to the speed at which things are developing today. Every day something new happens that could herald a revolutionary change. The world is spinning fast. We are spinning fast with it. And we are enjoying every second,” Lars Stugemo says.
“HiQ’s main market is the Nordic region, where the economic situation remains relatively strong. With our strong brand and stable finances the potential for HiQ to advance its positions here is good. We look forward to exciting new assignments in the adventure we call IT,” Lars Stugemo concludes.
HiQ President and CEO Lars Stugemo presents the second-quarter report today, Thursday 15 August at 09:00 CET, at HiQ’s head office (Regeringsgatan 20) in Stockholm. The report can also be ordered by phone (+46 8 588 90 000) or downloaded from www.hiq.se
HiQ is required by Swedish law (The Securities Market Act and/or the Financial Instruments Trading Act) to publish this information. This press release was issued at 07:30 (CET) on 15 August 2013.
For further information, please contact:
Lars Stugemo, President and CEO, HiQ, Tel: +46 8 588 90 000
Peter L. Häggström, Head of Corporate Communications, HiQ, Tel: +46 704 200 103
HiQ simplifies and improves using hi-tech solutions within communications and software development. The company is a leader in these areas and has the Nordic region as its home market. HiQ employs more than 1,300 staff and has offices both in the Nordic countries and in Russia. HiQ is listed on the NASDAQ OMX Stockholm Mid Cap List. For more information, please visit www.hiq.se