HiQ – a solid start of 2018
Net sales for the first quarter of the year rise by 1.0 percent to SEK 474.4 (469.7) million. Operating profit (EBIT) for the reporting period totals SEK 52.1 (65.5) million, which is equivalent to an operating margin of 11.0 percent. Cash flow is SEK 78.9 million and liquid assets on 31 March total SEK 282.9 million. The Annual General Meeting approves a shareholder’s dividend of SEK 3.30 per share, with a total pay-out of approximately SEK 183 million.
“Net sales rise to SEK 474.4 million, setting what is, for us, a new first-quarter record. Demand for our services has remained good throughout the first quarter and we are continuing to win numerous exciting new projects and assignments. First-quarter earnings are good, even though Gothenburg and Finland have not succeeded in replicating the same strong first-quarter performance as they reported last year,” says Lars Stugemo, CEO and President of HiQ.
HiQ continues to expand its offering while also growing in its existing business segments. One area that is constantly evolving is healthcare.
“Healthcare is an area where we can make a significant difference for people. During the first quarter we have won two major procurements in this sector, which we will use to reaffirm our commitment to improving and simplifying Swedish healthcare,” says Lars Stugemo.
The first quarter sees HiQ win numerous new assignments and sources of revenue. For example, HiQ is expanding its collaboration with the innovative automotive industry and supplying more teams to build tomorrow’s safe, autonomous and efficient vehicles. We also sign a framework agreement with ATG (a state-controlled company owned by the Swedish horse racing associations) to help ATG to become a winner in the sports betting market. We secure many new contracts related to our integration platform Frends in Finland. And, in a move that clearly shows how the breadth of our offer makes us a key partner for companies that are determined to be frontrunners in today’s technology-intensive world, we win a strategically important framework agreement to support a major vehicle manufacturer in its marketing activities.
The first quarter of 2018 is HiQ’s 61st successive quarter with a healthy profit. In fact, HiQ has reported a profit in 76 of the 77 quarters since the company was first listed.
“So, what’s the secret of our success? To tell the truth, it’s fairly straightforward. First and foremost, thanks are due to each and every one of our truly awesome co-workers. Together, we are continuing to consolidate our corporate culture and work in ways that reflect our company values. That means we are focused on results, we take and delegate responsibility, we strive to make things simple and, last but not least, we make sure we have fun. Nor, of course, must we overlook the important role played by all of our fantastic clients and partners! Together, we are creating the solutions that will transport us swiftly into the future. As a team,” concludes Lars Stugemo.
HiQ’s CEO and President Lars Stugemo will present the report at 9:00 a.m. today, Wednesday 25 April, at HiQ’s office at Regeringsgatan 20 in Stockholm.
The report can be ordered by phoning +46 (0)8-588 90 000 or downloaded from www.hiq.se.
For more information, please contact:
Lars Stugemo, President and CEO HiQ, tel. +46 8 588 90 000
Erik Ridman, Head of Communications, HiQ, tel. +46 70-750 80 60
This information is information that HiQ International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, at 07.30 CET on 25 April 2018.
HiQ helps to make the world a better place by using technology, design and communication solutions to make people’s lives simpler and better. We are the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ currently has over 1600 specialists in six countries and is listed on the Nasdaq Stockholm MidCap list. For more information and inspiration, please visit www.hiq.se.