INCREASED GROWTH, INCREASED PROFIT MARGIN AND STRONG CASH FLOW
Net sales for 2010 amounted to SEK 1,108.4 (1,057.7) million and operating profit (EBIT) to SEK 156.0 (145.6) million, an operating margin of 14.1 percent. Liquid assets amounted to SEK 163.5 (131.9) million. Net sales in the fourth quarter amounted to SEK 313.8 (278.7) million and operating profit (EBIT) to SEK 47.6 (46.0) million, an operating margin of 15.2 per cent. The Board of Directors propose to the General Meeting a dividend of SEK 1.80 per share, in total SEK 94 million, is distributed to the share holders through a split and compulsory redemption procedure.
“Our performance was strong and we achieved good results in 2010 – a year in which we returned to growth, improved our profit margins and had a strong cash flow. Our initiatives in respect of new and existing clients have brought good results. Ten percent of sales in 2010 were to new clients,” says Lars Stugemo, President and CEO of HiQ.
We help our clients with the use of technology, business and management expertise to simplify and improve their operations. HiQ’s clients are constantly faced with new opportunities and challenges. Globalisation, social networks, “cloud computing”, smart phones and e-readers are just some examples of the phenomena and behaviours that are driving development and creating new demand.
Technological developments and greater competition are constantly creating opportunities for new types of companies and services. Areas such as media, entertainment and the Internet are developing at a fast pace with new technical solutions – exciting growth areas for HiQ.
“We are a significant player in the Nordic region with successful clients and committed employees who take responsibility. I look forward to develop our business further and that we together will continue to deliver even better results for our clients. All our offices have significant recruitment needs in 2011 in order to be able to satisfy increased customer demand for our services, which I’m very glad to report,” continues Lars Stugemo.
HiQ’s President and CEO Lars Stugemo presents the report at 9:00 a.m. today, Tuesday 1 February, at HiQ’s 9th floor offices at Mäster Samuelsgatan 17 in Stockholm.
The report can be requested by telephoning +46 (0)8-588 90 000 or downloaded from www.hiq.se
HiQ discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. This report was released for publication at 07:30 CET on 1 February 2011.
For further information, please contact:
Lars Stugemo, President and CEO of HiQ, tel.: +46 (0)8-588 90 000
Fredrik Malm, CFO and Head of IR at HiQ, tel.: +46 (0)8-588 90 034 or
mobile: +46 (0)704-200 017 or e-mail: fredrik.malm@hiq.se
HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communications, software development and simulation technology. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs close to 1,200 people at offices in the Nordic region and Eastern Europe. HiQ is listed on the NASDAQ OMX Stockholm Mid Cap. For more information, please visit www.hiq.se
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