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

  • Gold Coast counts on pedestrians and cyclists with Q-Free
    June 2, 2023
    Hi-Trac CMU monitors four separate lanes & integrates into traffic management systems
    Read More
  • Toll upgrades for Sydney Harbour Bridge and Tunnel
    March 29, 2016
    Kapsch TrafficCom subsidiary Kapsch TrafficCom Australia is to replace the existing road tolling systems for Sydney Harbour Bridge and Sydney Harbour Tunnel operated by the New South Wales Roads and Maritime Services (RMS). The contract, worth more than US$112 million (€10 million), comprises supply of a new tolling system, as well as maintenance and support for five years. The new tolling solution is expected to be operating by early 2017. Kapsch will deliver its latest tolling technology based on th
    Read More
  • Lysanda acquires Tracker
    February 7, 2014
    In a deal that will combine Lysanda’s B2B customer base alongside Tracker’s long-standing B2C sales reach, telematics and infomatics provider Lysanda has acquired Tracker Network, a wholly owned subsidiary of Direct Line Group. The combined companies intend to establish Tantalum Corporation, with approximately US$32.5 million in revenues and some 500,000 telematics installations throughout Europe. Commenting on the acquisition, Cédriane de Boucaud, CEO of Tantalum Corporation said: “Lysanda has been a
    Read More
  • Government traffic statistics ‘highlight a growing issue in the UK’
    August 12, 2016
    The UK Department for Transport has issued its provisional estimates of road traffic in Great Britain for the year ending June 2016 by vehicle type and road class. These show that motor vehicle traffic was at a record high with 319.3 billion vehicle miles travelled, at 1.5 per cent higher than the previous year and 1.6 per cent higher than September 2007). Rolling annual motor vehicle traffic has now increased each quarter in succession for three years. Compared to the previous year, all road class
    Read More

Highlighted Content