HiQ – a strong third quarter

HiQ has developed well in the first nine months of the year. Net sales increased to SEK 580.7 (514.2) million, which represents organic growth of 13 percent. Operating profit (EBIT) increased to SEK 108.7 (100.9) million, equivalent to an operating margin of 18.7 percent. Pre-tax profit increased to SEK 109.4 (101.7) million.

“HiQ has continued to develop well in 2006. Demand for specialist IT services is good and we are growing by 13 percent combined with an operating margin of 18.7 percent –¬ a strong result,” says Lars Stugemo, President and CEO of HiQ.

“We are continuing to work untiringly to develop HiQ as a company and I am proud of the work that all our employees carry out day by day. The company’s growth in recent years, with a large number of new employees, has injected new energy into the organisation and created a driving force for new ventures both geographically and in terms of our areas of expertise. It’s tremendously inspiring,” continues Stugemo.

HiQ continues to work in long-term customer relationships with leading clients in a number of different industries such as telecoms, gaming & entertainment, automotive, finance, defence etc. At the same time, work on broadening the client base is also continuing and during the period HiQ won orders from a number of completely new clients. Today HiQ is bigger and working with more clients than ever.

“In 2006 we launched a new initiative in respect of interactive training for companies that combines educational games, interactivity and simulation. It has been a highly successful venture for HiQ that has generated a number of exciting new orders from both existing clients and completely new ones,” says Stugemo.

“We are continuing to do business and to win new orders from internationally leading clients in many different sectors. Today HiQ enjoys a very strong position in the Nordic market, which means that we can carry on developing very well. During the year we have grown and taken market share in sectors such as the automotive industry, telecoms, gaming and industry,” Stugemo adds.

HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Wednesday 25 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