Increased profit for HiQ
Net sales during the first quarter increases with 3 percent and amount to SEK 488.3 (474.4) million. Operating profit for the same period amounts to SEK 55.1 (52.1) million, an increase with 6 per cent. HiQ’s financial position is solid. Cash flow during the quarter amounts to SEK 61.5 million and liquid assets total SEK 232.8 million. At the end of the quarter we are 1,601 employees at HiQ. The General Meeting decides a dividend of SEK 3.35 per share. A total of
SEK 187 million.
“Overall, earnings for the quarter are quite good. We are growing and profits are increasing. In Finland, the quarter is very strong. In Sweden, we do not reach our full potential. In Gothenburg, quarterly earnings are good, and we clearly see positive results from the measures we took last year. And as we proudly celebrate 20 years as a listed company, we have also done our 65th profitable quarter in a row. Since HiQ’s listing, we have delivered profit in 80 of 81 quarters,” says Lars Stugemo, CEO and President of HiQ.
Technology development is proceeding at full speed and with unabated strength. Development is going faster than ever before, even though it will never again go this slowly. New services are being developed all the time, giving birth to new needs and new services to address these needs. Accelerating connectivity also facilitates the development of smarter cities, more economical and efficient transportation and better infrastructure. This is when companies like HiQ are strategic partners that help companies take advantage of the possibilities presented by technology development. That is something we see in for example the telecom industry, automotive industry, transport industry and e-Health.
“Demand for our services is good and we continue to win a lot of exciting new business. However, we notice that demand from public sector customers is subdued. This mainly affects our operations in Stockholm and Norrköping, which makes us hold off a bit with new hires and sub-consultant jobs during the quarter,” says Lars Stugemo, CEO and President of HiQ.
During the quarter we see how SKL turns to HiQ to use AI to streamline healthcare. Both Finnish Lähitaksi and Swedish Taxi Stockholm turn to HiQ to build critical parts of their digital infrastructure. As do patent company AWA and retailer Procurator. And HiQ’s architecture based on the Frends integration platform plays an important role in several of the solutions that are rolled out.
HiQ appoints Helena Forsmark as new Managing Director of HiQ’s subsidiary HiQ Stockholm from 5 April. Helena, who has been at HiQ for many years, takes over after Magnus Gudéhn who moves on within the company to develop the group’s major partnerships.
“With her background in technology development and R&D and her great enthusiasm, Helena will be an excellent leader for our company in Stockholm. Magnus’ new role will give us new impetus as a group to evolve further,” says Lars Stugemo, CEO and President of HiQ.
HiQ’s CEO and President Lars Stugemo will present the report at 9:00 a.m. today, Thursday 25 April, at HiQ’s office at Katarinavägen 15 in Stockholm.
The report can be ordered by phoning +46 (0)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 25 April 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 four countries and is listed on the Nasdaq Stockholm MidCap list.
For more information and inspiration, please visit www.hiq.se