HiQ – Somewhat faster than the surroundings

HiQ has developed very strongly during the first quarter of the year. Net sales increased to SEK 208.1 (167.3) million, an increase of 24 percent. Operating profit (EBIT) increased to SEK 46.2 (31.0) million, equivalent to an operating margin of 22.2 (18.5) percent. Pre-tax profit increased to SEK 46.5 (31.4) million.

“HiQ has made a strong start to the year. We are growing by 24 percent, combined with an operating margin of 22.2 percent, a very strong result,” says Lars Stugemo, President and CEO of HiQ. “We are currently enjoying an economic boom, with the IT market in the Nordic region characterised by generally good demand. HiQ is able to benefit from its position and continue to grow and take market share. During the quarter we continued to prioritise quality, profitability and growth,” Stugemo adds. HiQ is continuing to work on broadening its presence in several areas, with the result that the company is now a significant player in a number of different sectors. The automotive industry, gaming & entertainment, defence, industry and telecoms are all sectors in which HiQ has enjoyed good growth during the period. “Thanks to the confidence that our clients are placing in us to develop their products and services and thanks to the commitment and great expertise that all HiQ’s employees exhibit in their day-to-day work we can continue to develop HiQ nicely. I am proud to represent a company with leading clients and skilled employees,” continues Stugemo. “HiQ now has a highly cost-effective organisation, a strong sales force and very good delivery capacity. Over the past two years we have shown that we have the capability to grow while retaining a high degree of capacity utilisation and thus good profitability. Naturally, I am delighted at our strong results,” says Stugemo. HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Thursday 27 April, 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