HiQ – good profitability, high growth and strong financial position
HiQ has continued to develop well in 2008. Sales have increased to SEK 862.1 (690.8) million. Operating profit (EBIT) amounts to SEK 143.4 (127.2) million, giving an operating margin of 16.6 percent. Pre-tax profit amounts to SEK 145.8 (127.9) million. Cash flow from operations amounts to SEK 111.0 (35.4) million.
“HiQ is developing very strongly in 2008. Sales have increased by 25 percent with an operating margin of 16.6 percent – a result of which we are very proud. HiQ is today a significant player in the Nordic market with a broad client base, a strong geographical presence and a strong financial position,” says Lars Stugemo, President and CEO of HiQ.
The effects of the general slowdown in the global economy favour strong, specialist players with good client relations and a reputable brand. The turbulence during the past twelve months, seen mainly on the financial markets, is clearly also having an effect in other sectors. Among other things, the current economic situation is resulting in the restructuring of a number of sectors, which creates opportunities for HiQ to win new assignments and to further strengthen its position in the market. HiQ has a very strong financial position and hence a great freedom to further advance its position in the market.
”The current market favours specialist players such as HiQ that have good customer relations and a strong brand. Our clients have to develop their products and services continually if they are to remain competitive. We can help them to do so. Technology continues to develop regardless of the economic situation, and for HiQ this means that more business opportunities are arising all the time,” says Stugemo.
HiQ develops solutions in the areas of communications, software development and simulation. Clients include leading players in several sectors including the public sector, industry, telecoms, defence, gaming & entertainment, finance, etc. During the period new agreements were signed with clients such as PTS (Swedish National Post and Telecom Agency), BAE Systems Bofors and Ascom Sweden.
”Our projects are about helping our clients to use communication as a way to develop, improve and become more streamlined. HiQ is at the centre of this development and is contributing in various ways to the development of communications,” concludes Stugemo.
HiQ’s President and CEO Lars Stugemo present the report at 9:00 a.m. today, Monday 20 October, at HiQ’s 9th floor offices at Mäster Samuelsgatan 17 in Stockholm.
The report can be ordered on +46 (0)8-588 90 000 or downloaded from www.hiq.se