HiQ – strong cash flow and increased dividend
Net sales in 2018 total SEK 1,852.7 (1,787.9) million, an increase by 4 percent. Operating profit (EBIT) for the period amounts to SEK 196.5 (214.4) million. During the fourth quarter net sales increase by 3 percent to SEK 507.1 (494.7) million and operating profit (EBIT) amounts to SEK 61.2 (62.4) million. Our financial position is strong. Cash flow during the year amounts to SEK 167.4 (164.1) million and we have SEK 183.5 (205.1) million in liquid assets. At the end of the quarter, we are 1,629 employees at HiQ.
“Overall, full-year sales are higher than ever before despite a temporary slowdown in Finland in the first quarter and in Östergötland in the second quarter. In Gothenburg we did not meet our expectations in terms of earnings during the year. Therefore we have taken actions and made changes that has been starting to give effect during the fourth quarter. In general, the market saw healthy demand in 2018,” says Lars Stugemo, President and CEO HiQ.
Technology is developing faster than ever before, even though it will never again develop this slowly. New services are being developed all the time, giving birth to new needs and new services to address these needs. And demand for HiQ’s services remains strong.
”The market is characterized by good demand for our services, where we are well positioned within technology, design and communication. We continue help our customers take advantage of tech development to simplify and improve for their customers. We continue to win new clients and we continue to grow existing collaborations,” says Lars Stugemo, President and CEO of HiQ.
For example, during the year HiQ win new framework agreements with leading players in several areas. Examples include Kammarkollegiet (the Legal, Financial and Administrative Services Agency), which accesses HiQ’s services to a wide swarth of Sweden’s public sector. In the gaming and betting market, which is undergoing major changes, HiQ sign framework agreements with both ATG and Finnish Veikkaus. Cambio is leveraging our expertise to develop the healthcare system. The pension giant Keva is turning to HiQ to build its IT platform. Yamaha Motors Europe uses HiQ’s expertise to strengthen its ties with existing customers and to attract new ones. And HiQ are embarking on a partnership with Taxi Stockholm to develop their digital services with the goal of increasing efficiency and making it even easier to travel by taxi.
“When we first started HiQ, our ambition was to build the company we always wanted to work at. And we still do. Today we have more than 1,600 fantastic people at HiQ, and together with our adventurous customers we produce results that touch many people’s lives throughout the world. The need for technology solutions has never been greater. And the future brims with promise,” says Lars Stugemo, President and CEO of HiQ.
HiQ's President and CEO, Lars Stugemo, will present the report today, Tuesday, 29 January, at 09:00 CET
at HiQ's office at Regeringsgatan 20, 9tr, in Stockholm.
The report can be ordered by phoning +46 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 29 January 2019.
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 five countries and is listed on the Nasdaq Stockholm MidCap list. For more information and inspiration, please visit www.hiq.se
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