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

  • u-blox acquisition adds wi-fi and Bluetooth connectivity
    May 20, 2014
    Swiss-based u-blox has acquired Swedish company connectBlue AB, a provider of industrial-grade short range radio modules which support Bluetooth and IEEE 802.11/wi-fi industry standards that enable the last hundreds of metres of connectivity between equipment and the internet. According to u-blox, the acquisition greatly enhances its portfolio of positioning and cellular wireless communications solutions with short range communication products and broadens the u-blox module offering bringing millions of
    Read More
  • Electronic toll collection delivers efficient traffic regulation
    February 3, 2012
    Electronic tolling systems have been in use for decades now. Worldwide, steadily more and more tolling systems are being set into operation, providing efficient means for traffic regulation and financing of infrastructure. But despite this maturity enforcement is still not being given the consideration it deserves. Q-Free's Steinar Furan writes
    Read More
  • Solar studs a cost-effective alternative to street lighting?
    July 30, 2012
    Road traffic accidents have an enormous impact on society in terms of human loss, pain and suffering and a significant cost to the economy, the individual and their families. Accident rates on South Africa's roads are among the highest in the world and cost the country in the region of $163 million each year. The former head of the Department of Transport (DoT), Dr Kwazi Mbanjwa, described the situation as "carnage on our roads", with over 500,000 accidents and 10,000 fatalities per annum and the number of
    Read More
  • When caring about sharing is good business for US automakers
    October 28, 2015
    Although car-sharing and ride-sharing could drastically reduce car sales, David Crawford finds some US automakers are keen to participate in the sharing economy. Growing consumer interest in car- and ride-sharing, as opposed to outright ownership, and ride-sharer Uber’s recently stated intention to make its brand competitive with ownership on cost, are making the major US automotive manufacturers think seriously about their future sales prospects. Some have already begun exploring ways of entering the field
    Read More

Highlighted Content