Solid quarter by HiQ despite turbulent times

Net sales in the first quarter amounted to SEK 478.4 (488.3) million. Operating profit for the same period amounts to SEK 54.6 (55.1) million. Our financial position is good with a strong cash flow which during the period amounts to SEK 59.3 (61.5) million and a cash balance of SEK 243.5 million in liquid funds.

JANUARY – MARCH 2020

• Net sales total SEK 478.4 (488.3) million
• Operating profit (EBIT) of SEK 54.6 (55.1) million
• Operating margin increases to 11.4 (11.3) per cent
• Pre-tax profit increases to SEK 55.5 (54.7) million
• Profit after tax increases to SEK 43.5 (43.4) million
• Earnings per share, before dilution SEK 0.78 (0.78)
• Cash flow from operations SEK 59.3 (61.5) million
• Liquid assets increases to SEK 243.5 (232.8) million

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

• 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 elected to HiQ’s Board.
• HiQ as an employer ranked as most attractive IT consulting company by market insight company Universum.
  

SIGNIFICANT EVENTS AFTER END OF THE REPORTING PERIOD

• HiQ starts collaboration with Finnish Savings Banks’ Union COOP.