HiQ - increases net sales by 40 per cent with a margin of 14 per cent

HiQ - increases net sales by 40 per cent with a margin of 14 per cent The IT and management consultancy, HiQ, has increased its net sales for the period January to September 2001 to SEK 378.0 (271.1) million, which is equivalent to an increase of 39.4 per cent. The profits before goodwill increased to SEK 53.8 (46.7) million, which is equivalent to an increase of 15.3 per cent. The profit represents a margin of 14.2 per cent. "HiQ continues to grow and show a profit, and we are naturally very pleased about that. The economic situation in the world around us has continued to worsen this autumn and everyone is affected during a recession, including HiQ," says Lars Stugemo, CEO of HiQ. HiQ is active in markets such as telecoms, motor vehicles, defence, finance, medicine and energy. All of HiQ's market sectors are growing. "In a recession many players choose to postpone investments and place a greater emphasis on profitability. This means that customers have to more carefully assess which projects to implement - a trend that has become increasingly obvious during the autumn," says Stugemo. This year HiQ has signed agreements with several important customers including Ericsson, Europolitan, FMV, OM, the Swedish National Post and Telecom Agency (PTS), Telia Communications, Telenordia and Tele2. "At HiQ we work in long-term relationships with our customers. We are currently seeing a clear trend in which our customers enlist the help of fewer consultancy companies. HiQ benefits from this development," says Stugemo. "HiQ is a pure consultancy within the IT and management sector. We have skilled employees, good customer relations, and a strong financial position. We are well-equipped to further improve our position, continue to develop the company, and to come out of the recession stronger than before," concludes Stugemo. HiQ's CEO, Lars Stugemo, will present the interim report at HiQ's offices at Sveavägen 17, 17th floor, Stockholm at noon on Tuesday, 23 October. The report can be downloaded from HiQ's website www.hiq.se or ordered by calling +46 (0)8 588 90 000. For further information, please contact: Lars Stugemo, CEO HiQ, tel.: +46 (0)8 588 9000 Anna Svensson, CIO HiQ, tel.: +46 (0)704 200 103 HiQ is an IT and management consultancy that focuses on high tech solutions in the fields of telecoms, mobility and simulation technology. The company is a leader in these fields and the Nordic region is its domestic market. HiQ employs 450 people at offices in Sweden, Denmark and Finland. HiQ is listed on the Stockholm Exchange. For more information, please visit www.hiq.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/23/20011023BIT00180/bit0001.doc http://www.waymaker.net/bitonline/2001/10/23/20011023BIT00180/bit0001.pdf