HiQ delivers continued strong results and increased growth
2007 continues to be a very good year for HiQ. Net sales increased by SEK 110.1 million to SEK 690.8 (580.7) million, which represents growth of 19 percent. Operating profit (EBIT) increased with SEK 18.5 million to SEK 127.2 (108.7) million, corresponding to an operating margin of 18.4 (18.7) percent. Pre-tax profit increased with SEK 18.5 million to SEK 127.9 (109.4) million.
“HiQ continues to develop very well in 2007. It is a very nice result with a growth of 19 percent and an operating margin of 18.4 percent. We can deliver this result thanks to continued confidence from our clients and a fantastic work done by all our employees. The IT market in the Nordic region is characterised by good demand and we are enjoying an economic boom. HiQ is in a strong position and we are continuing to grow with very good profitability. I am very pleased with the year to date,” says President and CEO Lars Stugemo.
HiQ works on solutions in the fields of communications, software development and simulation technology and now has close to 1,000 employees in the Nordic region and Eastern Europe. HiQ works in long-term customer relationships with leading players in a number of sectors such as telecoms, gaming & entertainment, the automotive industry, finance, defence, etc. During the quarter new agreements were signed with clients such as Ericsson and OMX.
“The technology development is extremely fast and the communication needs between individuals and companies will only increase. The base for meeting these demands can, to a large extent, be found in the telecoms sector – a sector in which we have been working with leading manufacturers, operators and users in this sector since the last century,” says Lars Stugemo, President and CEO of HiQ.
Recruitment in the year to date has been very good for HiQ. The rate of staff turnover has continued to fall during the period.
“The HiQ brand is strong and we are attracting lots of skilled employees who want to work at the leading edge of technology on exciting assignments for leading international clients. We give priority to quality both in our assignments for clients and in creating an attractive workplace for our skilled staff,” says Stugemo.
HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Monday 22 October, at HiQ’s 9th floor office 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 HiQ, tel.: +46 (0)8-588 90 000
Anna Jennehov, Head of Corporate Communications,
tel.: +46 (0)8-588 90 000, +46 (0)704-200 049, anna.jennehov@hiq.se