Q-Free reports increased revenue for first quarter of 2014

Q-Free reported 22 per cent increase in revenues to US$28 million in the first quarter of 2014, reflecting continued growth for products and service and maintenance but lower projects revenues. Operating profit (EBIT) increased to US$166,000 from an operating loss of US$8.8 million in the first quarter of 2013; pre-tax profit improved to US$333,000 from a loss of US$9.1 million in the same period last year.
April 30, 2014 Read time: 2 mins
108 Q-Free reported 22 per cent increase in revenues to US$28 million in the First quarter of 2014, reflecting continued growth for products and service and maintenance but lower projects revenues. Operating profit (EBIT) increased to US$166,000 from an operating loss of US$8.8 million in the First quarter of 2013; pre-tax profit improved to US$333,000 from a loss of US$9.1 million in the same period last year.

Order entry in the First quarter was US$39.6 million, the highest since the second quarter 2012. Order backlog increased to US$74.7 million, an increase of US$11.5 million during the quarter. The EMEA region accounted for approximately half of both revenue and order intake in the quarter.

Q-Free continues to see a large potential in the road user charging market, with opportunities in all the main regions in EMEA, the Americas and Asia Pacific. The company also continues to strengthen its business within advanced transportation management systems, with the acquisitions of 131 TDC Systems in the UK in March and 7724 Traffic Design in Slovenia in April. Q-Free will continue to seek complementary investment opportunities to add to organic growth in the ATMS business going forward.
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • First year of growth in demand for public transport in EU ‘since economic crisis’
    June 21, 2016
    The use of public transport in the European Union has reached its highest level since 2000, with a total of 57.9 billion journeys made in 2014, according to a new study released today by UITP (International Association of Public Transport). 2014 was the first year of distinct growth in demand for public transport after years of stable demand following the start of the economic crisis in 2008. The highest total demand in 2014 for bus, tram, metro and suburban rail was recorded in Germany (10.9 billi
    Read More
  • Management changes at Iteris
    July 16, 2014
    Iteris has announced that it will require additional time to complete its audit for the fiscal year ended 31 March 2014, primarily due to the time necessary to complete the review of certain complex, multi-element contracts, but the company is continuing to work with its auditors to complete the fiscal 2014 audit but. The company may have a material weakness in its internal controls over financial reporting related to certain of these multi-element contracts, but the company has not yet completed its fin
    Read More
  • ‘Shining moment of opportunity for tolling’
    May 5, 2021
    Climate change is already affecting tolling operations in many parts of the world. IBTTA’s Bill Cramer explains how the sector can be seen as a proven funding and financing mechanism for surface transportation
    Read More
  • Smart transportation market expected to reach US$102.31 million by 2018
    June 10, 2013
    According to a new market research report, Smart Transportation Market - by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management), Services (Traditional, Advanced, Software) Worldwide Analysis and Forecasts (2012 - 2018) published by MarketsandMarkets, the smart transportation market expected to reach more than US$102.31 billion by 2018, at a CAGR of 23.6 per cent. The market for smart transportation is fuelled by the advancements across the information and communic
    Read More

Highlighted Content