STOCKHOLM, Sweden, Feb. 4, 2002 (PRIMEZONE) -- The net sales of the IT and management consultancy, HiQ, in 2001 increased to SEK 492.0 (404.9) million, which is equivalent to a growth of 22 per cent. The profit before goodwill is to SEK 66.1 (73.1) million. The margin before goodwill is 13.4 per cent.
"Despite a turbulent year, HiQ can report a strong result for 2001. We have increased net sales considerably, have managed to maintain good margins and enhanced our strong financial position," says Lars Stugemo, CEO of HiQ.
HiQ is active in markets such as telecom, defence, finance, motor vehicles, medicine, industry and energy. In 2001 these markets developed well for HiQ.
"HiQ has increased its market share in the Nordic market and has also increased net sales outside Sweden to a fifth of the total net sales. We find this very encouraging since the overall market for IT consulting services developed slowly in 2001," says Stugemo.
"We diversified our customer base in 2001 and increased our net sales above the average within industry, energy, medicine and the public sector. Investments in broadening our skills in simulation technology have been successful, leading to an increase in net sales in the defence segment," says Stugemo.
HiQ has attracted many new customers during the year, including Connex, Ericsson Mobile Platforms, Europolitan/Vodaphone, Hi3G, Orange, the Swedish National Tax Board, Scania, Sonofon and 3GIS.
HiQ recently entered into a partnership with Ericsson Mobile Platforms in Lund to test and develop mobile platforms within GPRS and UMTS, i.e. 2.5G and 3G.
"We view the Oresund region as a very interesting growth area and intend to establish a subsidiary in Lund in spring 2002. We believe that HiQ has good potential to grow with leading customers in the region," says Stugemo.
The Board of Directors reiterates HiQ's long-term financial goal of an organic growth of 30 per cent and an operating margin before goodwill of 15 per cent. The Board proposes an unchanged dividend of SEK 0.50 per share.
HiQ's CEO Lars Stugemo will present the report at HiQ's head office in Stockholm at Sveavagen 17, 17th floor, at 10 a.m. today, Monday, 4 February. The reported can be ordered by calling +46 8 588 900 00.
HiQ is an IT and management consultancy that focuses on high tech solutions in the fields of communication and simulation technology. The company is a leader in these fields, and the Nordic region is its domestic market. HiQ employs some 450 people at offices in Sweden, Norway, Denmark and Finland. HiQ is listed on the Stockholm Exchange. For more information, please visit www.hiq.se
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