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

  • Increasing and improving disabled access to public transport
    January 25, 2012
    An overview of European efforts to increase disabled access to public transport, by David Crawford
    Read More
  • Peer-to-Peer carsharing in Europe projected to grow significantly
    August 24, 2012
    According to Frost & Sullivan, by 2020 more than 200 traditional carsharing organisations (CSOs) and another 24 Peer-to-Peer (P2P) CSOs are expected to take the European market for carsharing to new heights. More than 14 million new members are expected to use carsharing services in Europe by the same year, while three new sub-segments will emerge in the market: electric vehicle carsharing, corporate carsharing and one-way carsharing. While the new segments arise in particular due to continued urbanisation
    Read More
  • Green Light WIM
    July 30, 2012
    Beginning in the 1990s, Oregon was one of the first US states to use weigh-in-motion scales and transponder-based systems to enable trucks to avoid having to stop at weigh stations. Its Green Light preclearance system soon became a model for similar deployments throughout the country. Today, Green Light annually weighs and screens 1.6 million trucks as they approach 21 Oregon weigh stations and it preclears 1.5 million of them.
    Read More
  • Cubic expands India operations into new facility to support growth
    January 10, 2018
    Cubic Transportation Systems (CTS), to support its growth from major fare payment system contracts in New York and Boston, will expand its Hyderabad operations into a larger facility. CTS’ broadened footprint in India is also expected to strengthen business opportunities in the region. Matthew Cole, president, CTS, said: “Our India operations exemplify Cubic’s global strength as we continue to grow, having recently won two of the industry’s largest fare payment system contracts in New York and Boston.
    Read More

Highlighted Content