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

  • Electronic vehicle registration ensures payment
    February 2, 2012
    Like most countries, Bermuda recognised that it was losing revenue through non-compliance with vehicle registration regulations and was equally concerned about vehicles that were not properly insured or put through annual inspections. Indeed, the tiny island state, with a population of around 65,000 people and some 30,000 vehicles, estimated it was losing more than US$1.4 million per year in tax-based revenue since approximately 8 per cent of vehicle owners were cheating the system.
    Read More
  • Dynamic charging boosts electric vehicles’ potential
    December 16, 2014
    With an increasing need to use electric vehicles in city centres to reduce pollution, David Crawford looks at various solutions to power delivery. The UN’s September 2014 Climate Summit has added fresh momentum to the drive to increase urban electric vehicle (EV) takeup. It has launched the Urban Electric Mobility Initiative, which wants to see EVs accounting for 30% of all urban travel by 2030, and make cities worldwide more friendly to their use. Encouragingly, the plan is being well supported by commerci
    Read More
  • London’s strategy to tackle air quality problems
    October 21, 2014
    Colin Sowman talks to Matthew Pencharz, the man charged with charting London’s path between catering for traveller needs, conserving ancient buildings and conforming to modern air quality standards.
    Read More
  • Kapsch TrafficCom acquires Schneider Electric transportation business
    April 5, 2016
    Kapsch TrafficCom has announced its acquisition of Schneider Electric’s transportation business, provider of real-time IT solutions and best-in-class intelligent transportation systems complementary to those provided by Kapsch. The acquisition expands the Kapsch portfolio and strengthens its market position in intelligent transportation systems, especially in the growth markets of Spain, Latin America, North America and the Middle East. The full integration of Schneider into the Kapsch business is expect
    Read More

Highlighted Content