2007 - a record year for HiQ, with accelerating growth and substantially increased profits

HiQ has delivered a record year with its highest sales, profits and growth so far. Sales for the period increased by SEK 172.3 million to SEK 973.7 (801.4) million. Growth is 21 percent. Operating profit (EBIT) increased by SEK 27.4 million to SEK 182.3 (154.9) million, an operating margin of 18.7 (19.3) percent. Pre-tax profit increased by SEK 27.6 million to SEK 183.8 (156.2) million.

“The HiQ brand is strong and we are attracting lots of skilled employees who want to work at the leading edge of technology on exciting assignments for leading international clients. We give priority to quality both in our assignments for clients and in creating an attractive workplace for our skilled staff,” says
Lars Stugemo, President and CEO of HiQ.

HiQ works on developing solutions in the fields of communications, software development and simulation technology and now has over 1,000 employees in the Nordic region and Eastern Europe. HiQ works in long-term customer relationships with leading players in a number of sectors such as telecoms, gaming & entertainment, the automotive industry, finance, defence, etc. During the year, new agreements were signed with clients such as Ericsson, FMV and OMX.

“The use of efficient and exciting communication solutions is increasing rapidly. Communication is becoming a greater and greater part of our lives, both at home and at work, 24 hours a day. This development is creating both requirements and opportunities. HiQ is at the centre of this development and is contributing in various ways to the functioning and development of communications. The majority of our projects are about helping our clients to use communication as a way to develop, improve and become more streamlined. It is exciting to be a part of this”, says Lars Stugemo.

Recruitment in 2007 has been very successful and the number of employees has increased by close to 250 people. The total number of staff is now over 1,000.

“2007 is another record year for HiQ. We have grown by 21 percent and have an operating margin of 18.7 percent. It is a record result that we have been able to deliver thanks to continued confidence from our clients and the fantastic work done by all our employees. The IT market in the Nordic region is characterised by good demand and has a strong position where we are continuing to grow and gain market shares with very good profitability,” says President and CEO Lars Stugemo.

HiQ’s President and CEO Lars Stugemo will present the report at 9.00 a.m. today, Wednesday 30 January, at HiQ’s 9th floor office at Mäster Samuelsgatan 17 in Stockholm.


The report can be ordered on +46 (0)8-588 90 000 or downloaded from www.hiq.se