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HiQ's CEO ADJUSTS HIS SHAREHOLDING IN THE COMPANY

Lars Stugemo, CEO and President of HiQ, has decided to adjust his shareholding in HiQ. After the disposal of shares his holding amounts to 583 651 shares, corresponding to 1,1 percent of the company.

”HiQ is a successful company with a strong offer. I am proud to represent a company with industry-leading clients and highly skilled employees. I have now decided to partially diversify my investments”, says Lars Stugemo, CEO and President of HiQ.

Lars Stugemo has during the period of February 27 to March 1, sold 243 849 shares, which means that he remains a share holder of 583 651 shares in HiQ, corresponding to 1.1 percent shares of the company.

”For the past fifteen years I have held the majority of my assets in the form of HiQ shares. By this disposal of shares, I increase my freedom of action concerning my economy, ” Stugemo concludes.

Lars Stugemo
Lars Stugemo President and CEO HiQ International +46 8 588 90 000
Erik Ridman
Erik Ridman Head of Communications HiQ International +46 70-750 80 60 +46 8-588 90 000

Increased profit and strong cash flow for HiQ

Sales for the first half of the year increase to SEK 965.5 million. Operating profit for the same period increases to SEK 121.4 million. In the second quarter of the year, sales increase to SEK 477.2 million. Cash flow for the first half of the year amounts to SEK 137.3 million and liquid assets total SEK 110.3 million. This means that our financial position remains strong. During the quarter, as announced earlier, we divested our holding in Westend Affärscentrum Oy, which is our former office space in Finland. The divestment generated a profit of SEK 22.8 million.

“As usual, the second quarter is seasonally weak with extra days off and leave. This year even more challenging compared to last year’s second quarter, with significantly less time. All in all, the first half of the year we deliver strong earnings in Finland, while in Sweden we do not live up to our expectations. To some extent, developments in Sweden were affected by weaker demand from the public sector and locally in the telecom sector in Blekinge,” says Lars Stugemo, President and CEO of HiQ. 

Invitation to the presentation of HiQ’s interim report at 9.00 a.m. on 16 July

HiQ‘s interim report for January-June 2019 will be presented at 9.00 a.m. on Tuesday 16 July at HiQ’s 7th floor office at Katarinavägen 15 in Stockholm.

Change in number of outstanding shares in HiQ during June

As of 28 June 2019 the number of outstanding shares and votes in HiQ International AB amount to 55 842 087 shares, following an increase of the number of shares and votes in June by 2 500.
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