HiQ WITHDRAWS PROPOSAL OF A SHARE SPLIT AND SHARE REDEMPTION PROCEDURE

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.


Erik Ridman

Get in touch

Erik Ridman
Head of Communications
HiQ
+46 70-420 00 01
+46 8-588 90 000

Strong cash flow, good cost control – accelerated digitalization

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.

Read more

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.

Read more

Increased profit and strong cash flow for HiQ

Net sales for the first third quarters of the year are SEK 1 355.8 million. Operating profit for the same period is SEK 164.4 million. During the third quarter of the year, sales is SEK 390.2 (395.0) million, operating profit increases with 7.5 % to SEK 43.1 (40.1) million and operating margin increases to 11.0% (10.1%). Cash flow for the first three quarters of the year amounts to SEK 183.0 million and liquid assets total SEK 150.5 million. During the second 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.
“During the third quarter, the profit, margin and cash flow are growing, during a seasonally weak quarter with lots of holidays and little time available. In comparison with the three first quarters previous year, we increase revenue, net profit, margin and cash flow”, says Lars Stugemo, President and CEO of HiQ.

Read more