HMS Networks — Audit Report / Information 2011

Feb 10, 2012

Year-End Report 2011

• Net sales for the full year reached SEK 384 m (344), corresponding to a 11.3 % increase. In local currencies the increase was 18.1 %
• Operating profit reached SEK 72 m (84), equal to a 18.8 % (24.2) operating margin. Currency fluctuations had a SEK 12 m negative impact on the full year result
• Order intake for the year increased with 13.3 % to SEK 388 m (342)

• Cash flow from operating activities amounted to SEK 46 m (75)

• Profit after taxes totaled SEK 54 m (62) and result per share amounted to SEK 4.84 (5.41)

• The Board of Directors propose a dividend to the amount of 2.25 (2.00) and have decided on a new dividend policy
• Net sales for the fourth quarter amounted to SEK 95 m (92) and operating result to SEK 10 m (20), corresponding to a 10.5 % (21.7) operating margin
• Hence net sales and operating result corresponds to levels indicated in the press release issued on January 17th, 2012

Quarterly data	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
	2011	2011	2011	2011	2010	2010	2010	2010
Net sales (SEK m)	95	101	97	92	92	88	89	76
Order intake (SEK m)	83	108	100	97	88	87	90	78
Opera ting profi t (SEK m)	10	24	20	18	20	24	22	18
Gros s ma rgin (%)	60.8	60.6	61.3	59.6	60.4	61.6	60.2	58.5
Opera ting ma rgin (%)	10.5	24.2	21.0	19.3	21.7	26.8	24.9	23.6
Return on equi ty (%)	18.6	21.6	22.1	22.6	23.2	23.0	21.2	12.4
Ea rnings per sha re (SEK)	0.71	1.67	1.34	1.11	1.31	1.46	1.48	1.16
Total equi ty per sha re (SEK)	26.77	25.96	24.41	25.08	25.30	24.37	22.80	22.41
Ca s h flow from opera ting	0.25	1.74	2.06	‐0.08	2.27	1.86	1.64	0.94
activi ties per sha re (SEK)
Yearly data	2011	2010	2009	2008	2007	2006
Net sales (SEK m)	384	345	245	317	270	227
Order intake (SEK m)	388	342	258	313	268	233
Opera ting profi t (SEK m)	72	84	31	85	55	52
Gros s ma rgin (%)	60.6	60.2	58.4	57.4	52.6	50.9
Opera ting ma rgin (%)	18.8	24.2	12.7	26.9	20.2	22.7
Return on equi ty (%)	18.6	23.2	8.8	28.6	17.5	24.3
Ea rnings per sha re (SEK)	4.84	5.41	1.88	5.43	2.81	3.21
Total equi ty per sha re (SEK)	26.77	25.30	21.25	20.91	17.05	14.85
Ca s h flow from opera ting
activi ties per sha re (SEK)	3.96	6.71	2.89	6.52	3.29	2.79

Comments of the CEO

We have noticed a growing uncertainty in our markets resulting in lower net sales for the fourth quarter compared to the third quarter 2011. The Japanese market was weak and this uncertainty will extend into the nearest future. The German market is cautious but we can see positive signals amongst other in the Automotive segment. The American market continues to develop positively. We can see a continued success related to customized solutions of our technology to leading actors in the market, but this business will not have an effect on our sales figures until the later part of 2012 and going forward.

The strategic investments, strengthened resources, product launches and further improvements in the efficiency of our operations we planned for in 2010 and 2011 are now completed. With the new resources in place we are prepared for a long term growth in line with our existing strategy. The inflow of design wins during 2011 was strong and this gives us a good basis for continued growth in the future. We can see a growing interest for our product offer in the areas of Gateways and Remote Management. Still in the short term we expect our customers to keep a cautious attitude until the market situation is more stable.

The investments implemented together with a growing caution from our customers affect the result for the fourth quarter. We see a stability in or financial position. The effect on reported figures from changes in exchange rates is also worth noticing. The strengthening of the Swedish currency last year affected our reported growth significantly. In local currency growth in net sales reached 18.1 % with a 20.6% operating margin.

During the year we have welcomed 47 new employees corresponding to a 24 % increase compared to the previous year. This reinforcement will affect our cost structure going forward. Now we have the necessary resources in place to strengthen our existing market position and enable a further expansion.

Net sales for the year amounted to SEK 384 m corresponding to a 11 % reported growth. Our challenge and ambition is now to reach the full potential of the investments made during the last two years.

"Our challenge and ambition is now to reach the full effect of the investments made", says Staffan Dahlström, CEO for HMS.

HMS Networks is a world‐leading supplier of communication technology for industrial automation. Sales for the last twelve months totaled SEK 384 million. Over 90% of these sales were to customers located outside Sweden. All product development and parts of the manufacturing are performed at the head office in Halmstad. Sales offices are located in Tokyo, Beijing, Karlsruhe, Chicago, Milan, Mulhouse, Pune, Coventry and Copenhagen. HMS has 240 employees and produces network interface cards and Gateways to interconnect different networks under the trademark Anybus® and products for remote management under the trademark Netbiter®. HMS is listed on NASDAQ‐OMX Nordic Exchange in Stockholm in the category Small Cap, Information Technology.

Net sales

Net sales for 2011 amounted to SEK 383.6 m (344.5). In total the revaluation of the Swedish currency in relation to the major HMS currencies had a SEK 23.3 m negative effect on net sales compared to the previous year. The order intake amounted to SEK 387.7 m (342.3).

Net sales for the fourth quarter totaled to SEK 94.8 m (91.6), corresponding to a 3.5 % increase compared to the same quarter the previous year. Currency effects compared to the same quarter the previous year were insignificant. Order intake for the fourth quarter decreased to SEK 82.9 m (87.5).

The graph shows turnover per quarter on the bars referring to the scale on the left axis. The line shows turnover for the latest 12 month period referring to the scale on the axis to the right.

Operating profit

Operating profit totaled to SEK 72.2 m (83.5) for 2011, equivalent to an operating margin of 18.8 % (24.2). Currency effects had a negative impact on the operating result with SEK 11.5 m compared to the previous year.

The operating profit for the fourth quarter 2011 totaled to SEK 9.9 m (19.8), corresponding to a 10.5 % (21.7) operating margin. Changes in exchange rates had a SEK 0.7 m positive impact compared with the same period the previous year.

The graph shows operating result per quarter in the bars referring to the scale on the left axis. The line shows operating result for the last 12 month period referring to the scale on the axis to the right.

Equity

The Group's equity amounted to SEK 298.5 m (285.8). The total number of shares at the end of the year was 11,152,900. After full dilution, the total number of shares is 11,322,400. The Group's equity/assets ratio improved to 76.3 % (71.9).

Change in Group Equity (SEK 000s)	Dec 31 2011	Dec 31 2010
Balance at 1 January	285,815	240,434
Total comprehensive income for the period	53,261	60,934
Dividends	-22,306	-11,153
Acquisition non-controlling interests	-18,227	-4,400
Closing balance	298,543	285,815

Currency effects

Assets and liabilities in foreign currencies are revaluated at closing date. Currency hedging contracts are revaluated at the date of closing and are also affecting the result on the date of expiration. Changes in book value due to revaluation of operating balance sheet items and currency hedging contracts are disclosed as other operating income and other operating expenses. Changes in book value related to assets in foreign currencies i.e. liquid funds, are disclosed as financial income and expenses. Net sales and expenses are affected by changes in exchange rates. This will have an impact on income and costs. Net sales for the year consist of 60 % in EURO, 22 % in USD, 10 % in Japanese Yen and 8 % in SEK and other currencies. Cost of goods sold consists of 53 % in EURO, 23 % in USD and 1 % in Japanese Yen. Operating expenses consists of 17 % in EURO, 8 % in USD, 7 % in Japanese Yen and 68 % of SEK and other currencies. The group applies a policy for currency hedging described in the annual report

Tax

The tax charge for the year was SEK 19.8 m (22.4). The tax charge for the current period has been calculated on the basis of the tax situation applying to the Group at present and the profit development of the reporting entities belonging to the Group.

Cash flow, investments and financial position

Cash flow from operating activities amounted to SEK 46.0 m (74.8).

The investments in tangible assets for the period totaled SEK 9.3 m (6.4). Investments in intangible assets for the period totaled SEK 10.7 m (8.4) and comprise development costs.

Cash flow from investment activities includes a SEK 18.2 m investment in the remaining 36 % of the shares in the subsidiary Intellicom Innovation AB.

At the end of the period the cash equivalents totaled SEK 26.6 m (55.0) and unutilized credit facilities SEK 20.0 m. The Group's net cash decreased to SEK 1.4 m (15.5). During the second quarter HMS distributed dividend payments to its shareholder equal to SEK 2.00 per share (1.00), in total SEK 22.3 m.

Important events

• HMS acquired the remaining part of the shares in the subsidiary Intellicom Innovation AB
• New subsidiaries were established in India, Denmark and the United Kingdom
• HMS signs a blanket agreement with one of the leading manufacturers of industrial automation equipment in Europe. The agreement concerns solutions for Industrial Ethernet communication with a total order value of SEK 7 m
• During the year a large number of new Gateway products were launched further extending HMS product offering
• The network protocol BACnet/ip was launched as a new member of the Anybus CompactCom family (embedded network interface card)
• HMS signs a blanket agreement with a manufacturer in the area of industrial automation equipment
• During the fourth quarter 12 new system partners were contracted bringing the total number of new partners to 28 in 2011
• HMS initiated a "green automation" initiative by introducing solutions for energy management in automation systems
• New design wins during 2011 amounted to 116 (114). In total HMS has 909 active design wins (830)

Outlook

A continued inflow of design wins, a broader product offering within the Gateway product family, a strengthened customer focus and an expansion of the HMS sales channels support the long term growth. The HMS Group has implemented an expansion plan by a number of new recruitments, which will result in increasing expenses going forward. The Japanese market has been weak and this uncertainty will extend into the nearest future. The German market is cautious but we can see positive signals amongst other in the automotive segment. The American market continues to develop positively. We notice an increasing caution amongst the customers in our market areas. To what extent this will affect the Company´s future operations is still uncertain. The future development of the global economy and its effects on the market for the HMS product offering is still unpredictable but the HMS overall goals are unchanged ‐ A long term average growth of 20 % per year and an operating margin above 20 %. The Company´s strategy to reach these goals includes a continued effort to build a strong portfolio of design wins in the area of embedded network cards and to broaden the Gateway product offering to further penetrate the existing and adjacent market areas within network technology.

Accounting policies

This report has been prepared in accordance with International Financial Reporting Standards (IFRS) and IAS 34, for Interim Reporting. Amendments to existing standards, new interpretations and new standards that came into effect as of January 1, 2011 did not affect the Groups reporting as of December 31, 2011.

HMS continues to apply the same accounting principles and valuation methods as those described in the most recent Annual Report. The parent company report is prepared in accordance with RFR 2, accounting for legal entities, and the Swedish Annual Accounts Act and accounting principles and the valuation methods as those described in the most recent Annual Report.

HMS Networks AB´s share

HMS Networks AB (publ) is listed on the NASDAQ‐OMX Nordic Exchange in the category Small Cap, Information Technology. The total number of shares amounted to 11,152,900.

Risk management

The HMS Group is exposed to business and financial risks through its operations. These risks have been described at length in the Company's annual report 2010. In addition to the risks described in these documents, no additional significant risks have been identified.

Nomination committee

In accordance with principles adopted at HMS 2011 annual general meeting, the following persons have been assigned to be a part of the Nomination Committee: Nicolas Hassbjer representing 29% of the shares, Jan Svensson, Investment AB Latour, representing 21% of the shares, Evert Carlsson, Swedbank Robur Fonder AB representing 10 % of the shares and Urban Jansson, Chairman of the Board. The Nomination Committee has appointed Jan Svensson as its Chairman.

The parent company

The Parent Company's operations are primarily focused on Group‐ wide management and financing. Apart from the Group's CEO, the Parent Company has no employees. The operating profit for the year amounted to SEK 0.8 m (0.6). Cash and cash equivalents amounted to SEK 0.01 m (0.1) and borrowing amounted to SEK 24.1 m (39.1).

HMS in short

Strategies

Growth strategy – HMS's main focus is on organic growth. Expansion on existing markets will be through improved and extended product ranges, new technology, high level of service and new sales channels. A certain degree of growth can be through the selective acquisition of businesses that will be a valuable complement to the company's organic growth strategy.

Development strategy – The Company's core expertise is made up of an extensive understanding of industrial network communication.

Product strategy – HMS markets three product lines, which to a certain degree are based on a common technical platform:

• Embedded network interface cards Anybus Embed‐ ded
• Communication translators between different net‐ works ‐ Anybus Gateways
• Remote monitoring and controlling of industrial devices – Netbiter Remote Management

Production strategy – HMS maintains an in‐house low‐volume production of Anybus products in Halmstad. Volume production takes place in close partnership with subcontractors in Europe and Asia in order to achieve flexible costs and to make use of economies of scale.

Market strategy – The Anybus network interface cards are marketed and sold to players in industrial and infrastructure automation and Anybus Gateways to system integrators, machine manufacturers and end‐users in industrial and infra‐ structure automation. Netbiter products are marketed and sold to a wide range of customers, from device manufacturers to owners of installations in need of remote management.

Sales strategy – Sales take place via the company's sales offices on defined key markets in 10 countries. Sales on the company's other markets, in 44 countries, takes place via agents/ distributors.

Business model

HMS's business model is built on being included at an early stage in customers' product and system development and, as much as possible, manufacturing to order with short delivery times.

The business model for embedded network interface cards is characterized by a close relationship between HMS and customers' development departments. Gateway products are sold partly via HMS distribution channels and partly to existing OEM customers, who in turn sell them on as a complement to their own product ranges, but without the strong link that exists when selling embedded network interface cards.

New dividend policy

The goal of the Board of Directors is to propose a dividend of approximately 50% of profit after tax subject to a financial position of the company allowing for a freedom of action

Dividend

The Board of Directors proposes a dividend to the amount of SEK 2.25 (2.00).

Annual General Meeting

The Annual General Meeting will be held at the Company's head office on Thursday April 19, 2012 at 10.00 am. The 2011 Annual Report (in the Swedish language) will be available on the Company's homepage four weeks previous to the date of the Annual General Meeting. A printed version of the 2011 Annual Report can be ordered by sending name and address to ir@hms.se.

Reporting occasions

• Q1 report 2012 will be published on April 18, 2012
• Annual General Meeting will be held on April 19, 2012
• Half year report 2012 will be published on July 12, 2012
• Q3 report 2012 will be published on October 23, 2012

Halmstad February 10, 2012

Staffan Dahlström Chief Executive Officer

This Year‐End Report has not been reviewed by the Company's auditor.

Further information can be obtained from: CEO Staffan Dahlström, on telephone +46‐35‐17 29 01 or CFO Gunnar Högberg, on telephone +46‐35‐17 29 95

Key ratios

Group	Q4	Q4	Q1-Q4	Q1-Q4
	2011	2010	2011	2010
Net increase in revenue (%)	3.5	26.9	11.3	40.9
Gross margin (%)	60.8	60.4	60.6	60.2
Operating margin EBIT (%)	10.5	21.7	18.8	24.2
Return on capital employed (%)*	23.2	27.6	23.2	27.6
Return on total equity (%)*	18.6	23.2	18.6	23.2
Working capital in relation to sales (%)*	8.3	6.3	8.3	6.3
Capital turnover rate	0.98	0.94	0.98	0.94
Debt/equity ratio	0.00	-0.05	0.00	-0.05
Equity/assets ratio (%)	76.3	71.9	76.3	71.9
Capital expenditure in property, plant and equipm. (SEK 000s)	1,914	3,109	9,341	6,433
Capital expenditure in intagible fixed assets (SEK 000s)	3,144	2,705	10,744	8,354
Depreciation of property, plant and equipment (SEK 000s)	-1,064	-1,129	-4,661	-4,191
Amortisation of intangible fixed assets (SEK 000s)	-1,557	-1,240	-5,539	-4,855
Number of employees (average)	227	178	213	167
Revenue per employee (SEK m)*	1.7	1.9	1.8	2.1
Total equity per share, SEK	26.77	25.30	26.77	25.30
Total equity per share, diluted SEK	26.76	25.25	26.76	25.25
Cash flow from operating activities per share, SEK	0.41	2.27	4.13	6.71
Cash flow from operating activities per share, diluted, SEK	0.41	2.26	4.12	6.70
Basic number of shares, average, thousands		11,153 11,153	11,153	11,153
Number of shares, diluted average, thousands		11,158 11,175	11,169	11,158

* The key ratio has been translated into 12 months rolling value when applicable.

Income statements

Group (SEK 000s)	Q4 2011	Q4 2010	Q1-Q4 2011	Q1-Q4 2010
Revenue	94,848	91,647	383,592	344,530
Cost of goods and services sold	-37,162	-36,262	-151,099	-136,973
Gross profit	57,686	55,385	232,493	207,557
Sales and marketing expenses	-28,112	-21,078	-92,543	-69,273
Administrative expenses	-7,755	-7,062	-30,643	-25,051
Research and development expenses	-9,642	-8,704	-36,725	-31,530
Other operating income	0	1,342	1,120	6,076
Other operating expenses	-2,252	-35	-1,490	-4,254
Operating profit	9,925	19,848	72,213	83,525
Financial income	1,119	615	2,591	1,340
Financial costs	-329	-232	-1,036	-802
Profit before tax	10,715	20,232	73,768	84,063
Tax	-2,807	-5,187	-19,839	-22,406
Profit for the period	7,908	15,044	53,929	61,657
Profit attributable to shareholders of the parent company	7,908	14,595	53,929	60,288
Profit attributable to non-controlling interests	0	449	0	1,369
Basic earnings per share, SEK	0.71	1.31	4.84	5.41
Earnings per share, diluted, SEK	0.71	1,31	4.83	5.40

Statements of comprehensive income

Group (SEK 000s)	Q4 2011	Q4 2010	Q1-Q4 2011	Q1-Q4 2010
Profit for the period	7,908	15,044	53,929	61,657
Other comprehensive income
Cash flow hedges	1,184	-1,144	-1,035	-234
Translation differences	237	-130	94	-551
Income tax relating to components of other comprehensive
income	-311	301	273	62
Other comprehensive income for the period, net of tax	1,110	-973	-668	-723
Total comprehensive income for the period	9,018	14,070	53,261	60,934
Profit attributable to:
Owners of the parent	9,018	13,622	53,261	59,565
Non-controlling interest	0	449	0	1,369

Balance Sheets

Group	Dec 31	Dec 31
(SEK 000s)	2011	2010
ASSETS
Goodwill	236,071	236,071
Other intangible assets	23,353	18,151
Property, plant and equipment	15,347	10,685
Deferred tax assets	770	756
Total fixed assets	275,541	265,663
Inventories	35,584	23,679
Trade and other receivables	42,781	38,612
Other current receivables	10,634	9,481
Cash and cash equivalents	26,573	54,984
Total current assets	115,572	126,757
TOTAL ASSETS	391,113	392,420
EQUITY AND LIABILITIES
Equity	298,543	282,207
Non-controlling interests	0	3,609
Total equity	298,543	285,815
Liabilities
Non-current liabilities	25,192	39,509
Deferred income tax liabilities	20,705	16,484
Total non-current liabilities	45,897	55,993
Trade payables	22,216	28,714
Other current liabilities	24,457	21,897
Total current liabilities	46,673	50,611
TOTAL EQUITY AND LIABILITIES	391,113	392,419

Cash flow statements

Group	Q4	Q4	Q1–Q4	Q1-Q4
(SEK 000s)	2011	2010	2011	2010
Cash flow from operating activities before changes in working capital	5,884	19,695	64,986	77,264
Cash flow from changes in working capital	-1,346	5,584	-18,977	-2,452
Cash flow from operating activities	4,538	25,279	46,009	74,812
Cash flow from investing activities	-5,057	-10,214	-37,114	-19,187
Cash flow from financing activities	-3,892	-3,750	-37,306	-26,153
Cash flow for the period	-4,411	11,315	-28,411	29,472
Cash and cash equivalents at beginning of the period	30,984	43,669	54,984	25,512
Cash and cash equivalents at end of period	26,573	54,984	26,573	54,984

Changes in current receivables/liabilities related to derivate financial instruments are reported as cash flow from operating activities before changes in working capital.

Quarterly data

Revenue per region	Q4 2011	Q3 2011	Q2 2011	Q1 2011	Q4 2010	Q3 2010	Q2 2010	Q1 2010	Q4 2009	Q3 2009	Q2 2009	Q1 2009
(SEK 000s)
EMEA	55,876	64,900	61,757	60,379	55,109	57,441	53,697	47,979	46,284	38,184	34,789	40,320
Americas	20,330	18,844	17,418	17,167	19,354	15,715	14,206	12,611	13,373	10,892	8,221	15,431
Asia	18,642	16,976	17,322	13,981	17,184	14,423	21,339	15,471	12,558	7,659	6,959	9,865
Income statement	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
(SEK 000s)	2011	2011	2011	2011	2010	2010	2010	2010	2009	2009	2009	2009
Revenue		94,848 100,720	96,498	91,527	91,647	87,579	89,242	76,061	72,215	56,735	49,969	65,616
Gross profit	57,686	61,062	59,193	54,552	55,385	53,931	53,723	44,518	43,408	34,245	26,752	38,313
Gross margin	60.8%	60.6%	61.3%	59.6%	60.4%	61.6%	60.2%	58.5%	60.1%	60.4%	53.5%	58.4%
Operating profit	9,925	24,360	20,224	17,704	19,848	23,502	22,242	17,932	15,802	13,349	-2,989	4,963
Operating margin	10.5%	24.2%	21.0%	19.3%	21.7%	26.8%	24.9%	23.6%	21.9%	23.5%	-6.0%	7.6%
Profit before tax	10,715	25,544	20,536	16,973	20,231	22,702	22,834	18,295	15,965	12,423	-4,964	5,028

Sales

Sales by geographical area are presented in the graph to the right.

Embedded products reached 71% of the group's total sales, Gateway products 24 % and Remote Management amounted to 3 %.

All product groups are based on a common technology platform and are marketed and sold in the common sales channels. Therefore, no complete segment follow-up is reported.

Parent Company

Income Statements

Parent company	Q4	Q4	Q1-Q4	Q1-Q4
(SEK 000s)	2011	2010	2011	2010
Revenue	1,605	1,667	7,428	6,769
Cost of sales and services	0	0	0	0
Gross profit	1,605	1,667	7,428	6,769
Administrative expenses	-1,472	-1,484	-6,589	-6,133
Operating profit	133	183	839	636
Interest expense and similar items	-189	-183	-839	-636
Profit before tax	-56	0	0	0
Tax	-8	-39	-8	-39
Profit for the period	-64	-39	-8	-39

Balance Sheets

Parent company	Dec 31	Dec 31
(SEK 000s)	2011	2010
ASSETS
Financial fixed assets	244,039	244,039
Total financial fixed assets	244,039	244,039
Other receivables	444	265
Cash and cash equivalents	18	99
Total current assets	462	364
TOTAL ASSETS	244,501	244,403
EQUITY AND LIABILITIES
Equity	133,098	155,411
Untaxed reserves	8	8
Liabilities
Non-current liabilities	24,118	39,118
Trade payables	525	131
Liabilities to Group companies	85,769	48,760
Other current liabilities	983	975
Total current liabilities	87,277	49,866
TOTAL EQITY AND LIABILITIES	244,501	244,403

Definitions

Return on shareholders' equity

Share of profit after tax attributable to the parent company's share‐ holders in relation to the average shareholders' equity excluding non‐ controlling interests.

Return on capital employed

Share of the profit after financial income in relation to the average capital employed.

Capital employed

Total assets less non interest bearing current liabilities and provisions, as well as total deferred tax liabilities.

Capital turnover rate

Operating income in relation to total assets.

Earnings per share

Share of the profit after tax attributable to the parent company's shareholders in relation to the average number of outstanding shares.

Earnings per share after dilution

Share of the profit after tax attributable to the parent company's shareholders in relation to the average number of outstanding shares with addition for the average number of shares that are added when converting the outstanding number of convertible securities and options.

Working capital

Current assets less cash equiva‐ lents and current liabilities.

Operating margin

Operating income in relation to net sales.

Equity/assets ratio

Shareholders' equity in relation to total assets.

Net debt

Long‐term and current financial liabilities less financial assets.

Net debt/equity ratio

Net debt in relation to share‐ holders' equity including non‐ controlling interests.

Total equity per share

Total equity attributable to the parent company's shareholders in relation to total outstanding shares by the end of the period.

Our Vision

"The vision of HMS is that all automation devices will be intelligent and networked. HMS shall be the market leader in connectivity solutions for industrial devices".

Our Mission

"We provide world class solutions to connect industrial devices to networks and products enabling interconnection between different industrial networks".

Our purpose

"To create long term value for our customers, employees and investors".

HMS Networks AB (publ) Org.Nr. 556661‐8954 Box 4126 300 04 Halmstad Sweden Tel: +46 35 172 900 Fax: +46 35 172 909 http://investors.hms.se