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Strong cash flow, good cost control – accelerated digitalization

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Net sales in the first six months amounted to SEK 917.8 million. Operating profit for the same period amounts to SEK 92.9 million. During the second quarter net sales amounts to SEK 439.4 million and the operating profit to SEK 38.3 million. Cash flow for the first six months amounts to SEK 171.5 million and liquid assets total SEK 340.6 million. This means that our financial position remains strong. We have a strong cash flow, good cost control, we are winning business and are positioned to win market shares.  

JANUARY – JUNE 2020

  • Net sales total SEK 917.8 (965.5) million
  • Operating profit (EBIT) totals SEK 92.9 (98.6*) million 
  • Operating margin total 10.1 (10.2*) per cent
  • Pre-tax profit total SEK 91.5 (98.1*) million
  • Profit after tax total SEK 71.3 (95.1) million
  • Earnings per share, before dilution SEK 1.28 (1.70)
  • Cash flow from operations SEK 171.5 (137.3) million
  • Liquid assets increase to SEK 340.6 (110.3) million

* The comparative figures exclude a realisation gain of SEK 22.8 Mkr due to a divestment of a property during the same period 2019. For further information, please see page 16 in the enclosed interim report.

APRIL – JUNE 2020

  • Net sales total SEK 439.4 (477.2) million
  • Operating profit (EBIT) of SEK 38.3 (43.5*) million
  • Operating margin total 8.7 (9.1*) per cent
  • Pre-tax profit total SEK 36.0 (43.4*) million
  • Profit after tax total SEK 27.8 (51.8) million
  • Earnings per share, before dilution SEK 0.50 (0.93)
  • Cash flow from operations SEK 112.2 (75.8) million
  • Liquid assets increase to SEK 340.6 (110.3) million

* The comparative figures exclude a realisation gain of SEK 22.8 Mkr due to a divestment of a property during the same period 2019. For further information, please see page 16 in the enclosed interim report.

 

SIGNIFICANT EVENTS DURING THE FIRST SIX MONTHS

Q2

  • HiQ signs new framework agreement with the Swedish Public Employment Service.
  • HiQ is selected by Gothenburg & Co to develop a digital knowledge hub for the tourism industry in Gothenburg.
  • HiQ wins several assignment within the public sector, including assignments for the Swedish Tax Agency, Norra Älvstranden, Government Offices, Swedish Association of Local Authorities and Regions, Rauma stad, Sitra, Veikkaus, Swedish eHealth Agency and Inera.
  • HiQ wins procurement for SMHI.
  • During the quarter HiQ FRENDS wins a total of 20 new clients, including Muncipality of Karlskrona, Pohjois-Karjalan Sähkö Oy, City of Järvenpää, Kiilto, Kotikatu, Nivos Oy, PP-laskenta, Recion, R-Kioski, Savon Voima Oy, City of Seinäjoki, Mico Botnia and White Arkitekter.
  • HiQ wins several new deals in the finance sector in Finland. For example around Robotic Process Automation, RPA, banking and wealth management, Sharepoint migration and multiple mobile solution support and development projects.
  • HiQ wins a gold in the European Design Awards for Metsä Group and a Webby Award for LEGO House.
  • HiQ starts collaboration with Finnish Savings Banks’ Union COOP.

Q1

  • HiQ lands new contract and ramps up partnership with Epiroc.
  • HiQ delivers several development teams to leading players in the telecoms industry.
  • HiQ wins several assignments in the public sector that include Västmanlands local public transport, Swedish Data Inspection Board, Swedish eHealth Agency, Mälardalen University, Swedish Tax Agency, Swedish Agency for Marine and Water Management, Swedish National Agency for Higher Vocational Education, Swedish Association of Local Authorities and Regions (SKR), Inera, Region Västra Götaland, and the cities of Helsinki, Seinäjoki and Järvenpää in Finland.
  • HiQ does business with leading e-commerce players in the Nordics.
  • HiQ initiates collaboration with major European consumer product company, delivering consulting services and FRENDS platform.
  • HiQ initiates collaboration with global pharmaceutical company, delivering consulting services and FRENDS platform.
  • HiQ initiates collaboration with leading Finnish energy company, delivering consulting services and FRENDS platform.
  • HiQ FRENDS wins 21 new customers during the quarter.
  • HiQ is chosen as digital agency by children’s cultural centre Funnys Äventyr in Malmö.
  • Johan Dozzi and Katarina Axelsson Lindgren are elected to HiQ’s Board.
  • HiQ as an employer is ranked as most attractive IT consulting company by market insight company Universum.

SIGNIFICANT EVENTS AFTER END OF THE REPORTING PERIOD

  • HiQ wins assignment for development of a global intranet for a leading industry group.
  • HiQ builds new website for the Swedish Data Protection Authority.
  • HiQ develops a new website for the Swedish Inheritance Fund.
  • HiQ develops a smart destination website for Eskilstuna

For further information, please see the enclosed interim report.

HiQ International AB (publ)
The Board of Directors

 

For further information, please contact:
Lars Stugemo, President and CEO, HiQ, tel. +46 8 588 90 000
Erik Ridman, Director of Communication, HiQ, tel. +46 70 420 00 01

This information is information that HiQ International AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out, at 07.30 CET on 16 July 2020.

HiQ helps to make the world a better place by making people’s lives simpler through technology, design and communication. We are the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ has close to 1,500 specialists in four countries and is listed on the Nasdaq Stockholm Mid Cap list. For more information and inspiration, please visit www.hiq.se

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