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

Related Content

  • March 27, 2014
    TDC acquisition broadens Q-Free’s product offering
    Norwegian tolling specialist Q-Free has acquired TDC Systems which develops products for traffic counting and classifying, weigh-in-motion, cycle and pedestrian detection, traffic signal prioritisation and tunnel monitoring as well as sensors and software for travel-time detection and air quality monitoring. UK-headquartered TDC has offices in Australia and Malaysia with customers in 50 countries around the world.
    Read More
  • February 2, 2015
    Cycling in London grows by ten per cent
    London’s cycling revolution accelerated last year, with 2014 seeing new records for usage of the capital’s cycle hire scheme and overall cycling on the Transport for London (TfL) road network. Across the TfL road network, London’s main roads, cycling levels in quarter 3 of 2014/15 (14 September to 6 December) were ten per cent higher than in the same quarter the previous year and the highest since records began in 2000. It was the fifth record quarter in a row. By the end of 2014/15, TfL forecasts a 12 p
    Read More
  • October 3, 2013
    Global ITS market expected to reach US$ 30.2 billion by 2019
    According to a new market report published by Transparency Market Research, "Intelligent Transportation System (ITS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global market for ITS is expected to reach a value of USD 30.2 billion by 2019, at a CAGR of 11.1 per cent from 2013 to 2019. The demand for ITS systems is rising globally due to increased congestion in metropolitan areas. Development and deployment of intelligent transportation system not only r
    Read More
  • May 21, 2012
    Natural Gas vehicle sales to increase at a healthy pace
    Natural gas vehicles (NGVs) have been available to varying degrees since the 1970s, and earlier in some parts of the world. Despite this long history, adoption varies significantly from region to region, with NGVs used mainly for commercial vehicles in North America and parts of Western Europe and for consumer markets in parts of Asia and the Middle East. The primary growth drivers in these countries are the favorable economics of natural gas, the reduction of oil imports, the environmental benefits of lowe
    Read More

Highlighted Content