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.

The Board of Directors of HiQ International AB has decided to withdraw the previously communicated proposal to the Annual General Meeting 2020 regarding a share split and share redemption procedure of SEK 3.40 per share.

As a consequence of the global outbreak of COVID-19 the Board of Directors prioritizes to maintain the company’s strong financial position – and to create freedom of action in the changed market situation.

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 set out above, at 09:00 a.m. CET on March 24, 2020.

Ann Hellenius, Director of the Board of HiQ International AB, has announced that she will be leaving the company’s Board with immediate effect, and that she will not be at disposal for re-election. The reason is that Ann has accepted an assignment in a to HiQ competing business.

“Ann Hellenius has been a member of HiQ’s Board of Directors since 2019 and has through her experience in digitalisation provided valuable knowledge and know-hows to HiQ’s operations. We send thanks for Ann’s commitment to HiQ and wish her all the best for the future”, says Gunnel Duveblad, Chairman of HiQ International AB.

This year, the gates to Malmö’s new major tourist attraction are opening – the children’s cultural centre Funnys Äventyr at the Mobilia shopping centre. They are choosing HiQ as their digital agency for the launch. “This collaboration is dear to our hearts. With our strong local presence in Malmö, we’re thrilled to get the chance to promote the development and appeal of the city in this way,” says Anna Kleine, Managing Director of HiQ Skåne.

As digital agency for Funnys Äventyr, HiQ will provide all the digital production as well as campaigns on social media and other digital channels. The collaboration will kick off with the development of Funnys Äventyr’s new website. In addition to online ticket sales, the website will offer a sneak preview of the children’s characters that visitors will encounter at the centre, such as Alfie Atkins, Pettson and Findus, Moomin, Halvdan and Meia, and Funny herself.

To build a long-term, smart and sustainable IT infrastructure, Funnys Äventyr is also opting to use HiQ’s Frends integration platform as an integration solution for both their own and external IT systems.

“HiQ has brought great insight into how they can bring the various storybook characters to life digitally. The digital experiences should breathe the same magic that the centre’s visitors will encounter – and we have faith that they can deliver. That’s why we’re choosing HiQ,” says Staffan Götestam, the creative mind behind Funnys Äventyr.

“In our discussions, we soon realised that we were on the same page concerning what we want to achieve together. The goals for Funnys Äventyr go hand in hand with our own, too. We both want to help make our communities better – but by using different means. For Funnys Äventyr, it’s by encouraging children to read. And for HiQ, it’s through technology, design and communication,” says Johannes Arnkvist, Head of Design at HiQ Skåne.