HiQ 2008 – Strong development with quality, profitability and growth
HiQ performed very strongly in 2008. Net sales increase to SEK 1 181.5 (973.7) million. Operating profit (EBIT) amounts to SEK 193.9 (182.3) million, giving an operating margin of 16.4 percent. Pre-tax profit amounts to SEK 197.8 (183.8) million. Cash flow from operations amounts to SEK 172.0 (81.0) million. The Board proposes that SEK 1.40 per share, around SEK 72 million in total, is distributed to the shareholders through a split and a compulsory redemption procedure.
“HiQ had a very strong 2008. Our net sales rose 21 percent with an operating margin of 16.4 percent – a result we are very proud of. HiQ is now a leading player on the Nordic market, with a broad customer base, strong geographic presence and strong financial position. We work with leading Nordic companies that entrust us to develop their systems, products and services”, says Lars Stugemo, President and CEO of HiQ.
The economic situation has led to restructuring in many industries, creating opportunities for HiQ to win new assignments and further strengthen its market position.
“We currently experience a market situation where the importance of a strong market position increases. The current market favours specialist players such as HiQ that have good customer relations, a strong brand and a strong financial position. Our clients must develop their products and services continually to remain competitive. We can help them do so. Technology continues to develop regardless of the economic situation, and for HiQ this means new business opportunities are always arising”, says Stugemo.
HiQ develops solutions in the areas of communications and software development. Clients include leading players in many sectors, including the public sector, industry, telecoms, defence, gaming & entertainment and finance. During the year, new agreements were signed with clients such as the Swedish National Post and Telecom Agency, BAE Systems Bofors, TDC Sweden, Saab AB, the Swedish Defence Materiel Administration and GTECH.
“Our projects help clients use communications to develop, improve and streamline. HiQ is at the centre of this process and is contributing in various ways to develop systems, products and services that require communications”, says Stugemo
Lars Stugemo, HiQ’s President and CEO, presents the report at 09:00 today, Tuesday 3 February, 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.
For further information, please contact:
Lars Stugemo, President and CEO, tel.: +46 (0)8-588 90 000
Annika Billberg, Head of Corporate Communications and Investor Relations, tel.: +46 (0)8-588 90 015, +46 (0)704-200 103, annika.billberg@hiq.se
HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communications and software development. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs more than 1,000 people at offices in the Nordic region and in Eastern Europe. HiQ is listed on the Nordic Exchange’s Mid Cap list. For more information, please visit www.hiq.se.