HiQ – growing by 53%, 20% operating margin

HiQ reports a strong first half of 2005, with profits trebled and very strong growth. Net sales increased to SEK 356.6 (233.4) million, an increase of 53 percent. Operating profit (EBIT) increased to SEK 71.3 (23.6) million, equivalent to an operating margin of 20.0 (10.1) percent. Pre-tax profit increased to SEK 72.1 (24.7) million.

“HiQ has developed very well in 2005. We are now experiencing a better market than in 2004 and we have a solid organisation with the driving force and delivery capacity needed to meet the increasing demand well. This has resulted in a very good first half,” says Lars Stugemo, President and CEO of HiQ. “During the period we continued to recruit in all our regions, and all our subsidiaries are demonstrating good profitability – an effect of the great confidence that our clients are placing in us to develop their products and services,” continues Stugemo. HiQ works within high technology with clients in technology-intensive industries. HiQ experience strong growth in sectors such as gaming & entertainment, the automotive industry, finance and telecoms, and during the period HiQ is also seeing good growth in security and defence. During the period 130 new employees were recruited, 71 of these in the second quarter. ”HiQ holds a strong position with a specialised offering. Our ambition is to grow together with satisfied and demanding clients. This combined with high efficiency and a high level of quality awareness enables us to show very good results. Today HiQ is bigger and stronger than ever,” says Stugemo. HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Wednesday 24 August, 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