Strong cash flow, good cost control – accelerated digitalization

The Swedish Agency for Accessible Media (MTM) digital library, Legimus, needs to be rebuilt to create a better user experience. HiQ gets the assignment, via Frontwalker as a partner, to manage the entire journey from the user's perspective to the final web. "We are extremely proud to be entrusted with delivering on this important assignment and to improve the experience for people with the help of new digital solutions. We have built a good collaboration with MTM, delivering a platform that we jointly build on for the future," says Åsa Melvanius, Head of Region South at HiQ.

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

Contact

Region HiQ Stockholm

Karolina Israelsson

Hi 👋
I’m Karolina and I work with PR & Communications at HiQ. Do you want to know more about all the cool things we do at HiQ, or have any other questions? Don’t hesitate to get in touch with me!

karolina.israelsson@hiq.se +46 73 338 86 24

karolina.israelsson@hiq.se +46 73 338 86 24