Strong cash flow and good profitability

HiQ is continuing to perform well in 2009 despite the continuing effect of the economic downturn on the IT consultancy sector. Net sales amounted to SEK 570.3 million and operating profit (EBIT) to SEK 78.6 million, an operating margin of 13.8 percent. Cash flow from operations amounted to SEK 81.2 million.

“The market is tough. We work hard develop our offering and competitiveness in order to offer our clients high quality services. It means we can continue to deliver strong results even in a seasonally weaker quarter such as this one,” says Lars Stugemo, CEO and president of HiQ. HiQ is today a significant player in the Nordic market with a broad client base, a strong geographical presence and a strong financial position. The economic situation has also led to restructuring in a number of sectors, creating opportunities for HiQ to win new business and further strengthen its market position. “In a weaker economic situation it is all the more important to be in a strong market position. HiQ is in a strong position financially, has good customer relations and a strong brand, all of which favours us in a tougher market. Our clients have to develop their products and services continually if they are to remain competitive. We help them to do so. Technology continues to develop regardless of the economic situation, and for HiQ this means that more business opportunities are arising all the time,” continues Lars Stugemo. “HiQ was named ‘IT Consultant of the Year 2009’ in Veckans Affärer’s annual survey – important proof for us that our work on continual development of HiQ and our offering to our clients is bringing results. It is an honour of which all of us at HiQ are very proud,” says Lars Stugemo. HiQ’s projects are about helping our clients to use communication as a way to develop, improve and become more streamlined. Clients include leading players in various segments including the public sector, industry, telecoms, defence, gaming & entertainment and finance. During the period new agreements were signed with clients such as SEB, Volvo Cars, Ascom Sweden AB, Stockholm Local Transport (SL), Kuusakoski and Mentice. “New technology is emerging all the time, and this creates opportunities for new types of companies and services. We are seeing increased demand for the development of mobile and web applications in areas such as media and entertainment. We see this an an exciting area for HiQ in the future,” concludes Stugemo. HiQ’s President and CEO Lars Stugemo presents the report at 9:00 a.m. today, Tuesday 18 August, 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 For further information, please contact: Lars Stugemo, President and CEO HiQ, tel.: +46 (0)8-588 90 000 Annika Billberg, Head of Corporate Communications and Investor Relations HiQ tel.: +46 (0)8-588 90 015, +46 (0)704-200 103, annika.billberg@hiq.se