Q-Free reports increased revenue, major tag order

Q-Free has been awarded an order for OBU610 tags from Roads and Maritime Services (RMS) in Australia at a value of US$2.4 million, to be delivered within the second quarter of 2015. “Q-Free has supplied more than two million tags to RMS, representing an important basis for our activity in Australia. We are pleased to see the continued strength of this particular relationship and of our competitiveness in the Australian market,” comments Q-Free CEO Thomas Falck. Q-Free also reported increased revenues
August 14, 2014 Read time: 2 mins

108 Q-Free has been awarded an order for OBU610 tags from 6722 Roads and Maritime Services (RMS) in Australia at a value of US$2.4 million, to be delivered within the second quarter of 2015.

“Q-Free has supplied more than two million tags to RMS, representing an important basis for our activity in Australia. We are pleased to see the continued strength of this particular relationship and of our competitiveness in the Australian market,” comments Q-Free CEO Thomas Falck.

Q-Free also reported increased revenues for the first half of 2014, up by 24 per cent to US$57.6 million from the same period in 2013; EBITDA was US$6.3 million, EBIT was US$503,000 million, and pre-tax profit was US$292,000.

The second quarter of 2014 saw Q-Free revenues increase by 26 per cent from 2013 to US$30.3 million for the second quarter 2014; EBITDA improved to US$3.4 million from US$2.6 million, EBIT improved to US$357,000 from US$48,700, while pre-tax profit improved to US$48,700 from a loss US$373,000 in the second quarter 2013.

The company says revenue over the last two years has reflected a substantial increase in product sales and lower project revenues. This trend continued in the second quarter 2014, with product sales reaching the highest level since the fourth quarter 2011.

Q-Free has taken steps to improve its future revenue generation, including a profit improvement program and improved customer focus on the small and mid-sized segment of the road user charging market to broaden the scope of business. Organisational changes, together with previously-announced acquisitions, will enable Q-Free to provide a broader portfolio of products and value added services to its customers and strengthen the company’s position. Going forward, Q-Free will focus on realising synergies within the Group and on growing the business further, both with organic growth as well as add-on acquisitions.

Q-Free continues to see a positive long-term outlook, with opportunities both in the traditional road user charging market and in the market for advanced transportation management systems.

Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Top five findings in NJDOT three-year red light camera report
    April 1, 2014
    Red-light safety cameras installed by American Traffic Solutions (ATS) turned in another year of positive results at intersections in New Jersey, and trends show "driver behaviour is being modified," according to the recently issued New Jersey Department of Transportation's (NJDOT) third annual analysis of the photo enforcement program. According to the report, "Further sustained analysis is needed and the Department recommends that the traffic control signal monitoring systems pilot program continue."
    Read More
  • ASECAP report details division of concession risks in EU
    April 1, 2015
    ASECAP, the association of European tolling companies, has published a report which outlines the challenges facing authorities and tolling companies in the European Union in complying with the Directives 2014/23/EU and 2014/24/EU. The new directives come into force in April 2016 and refine and strengthen the definition of a concession and establish procurement rules for contracting authorities in respect of public contracts. One of the key areas in defining a concession is that the concessionaire must b
    Read More
  • TagMaster wins order from Bombardier for São Paulo Line 5 Project
    July 25, 2012
    Sweden-headquartered TagMaster has received an order from Bombardier Transportation to provide its advanced RFID solution for a project to upgrade and extend the signalling on Line 5 on the São Paulo Metro in Brazil. Bombardier has placed an initial order for Heavy-duty (HD) readers and ID-tags which will be delivered over a 12 month period beginning in August 2012. Additional orders for TagMaster’s Heavy-duty ID-Tags and system spare parts for the project are anticipated during 2013.
    Read More
  • Turkey’s Gebze-Izmir motorway gets under way
    July 17, 2015
    Gebze İzmir İşletme ve Bakım (GİİB) has begun work on the 22-year contract for the Gebze-Izmir motorway in Turkey and will be responsible for pre-operational services, operation, maintenance and toll management on behalf of Otoyol, the concessionaire for the Turkish General Directorate of Highways (KGM). Egis is a 50 per cent shareholder in GIIB, along with shareholders of the concession company. The Gebze-İzmir project is a toll motorway procured by KGM under a build, operate and transfer (BOT) model.
    Read More

Highlighted Content