Q-Free reports a positive third quarter

profitability in the third quarter. Revenue increased 10 per cent to US$28.6 million, with operating profit of US$8.4 million and a profit before tax of US$1.2 million. This compares to a negative operating result of US$3.9 million and a loss before tax of US$3.7 million in the third quarter 2012. Q-Free has also strengthened its efforts in advanced transportation management systems (ATMS) through an investment in the American traffic management company Intelight in Tucson, Arizona, and acquisition of th
October 31, 2013 Read time: 2 mins
108 Q-Free reports significant growth in product demand over the First two quarters of 2013 and a clear improvement in underlying profitability in the third quarter. Revenue increased 10 per cent to US$28.6 million, with operating profit of US$8.4 million and a profit before tax of US$1.2 million. This compares to a negative operating result of US$3.9 million and a loss before tax of US$3.7 million in the third quarter 2012.

Q-Free has also strengthened its efforts in advanced transportation management systems (ATMS) through an investment in the American traffic management company Intelight in Tucson, Arizona, and acquisition of the Serbian traffic management company Elcom.
A new contract with the Miami-Dade Expressway Authority (MDX) marked a breakthrough in the US and, together with a service and maintenance contract in Stockholm and the extension of a contract with the Norwegian Public Roads Administration related to central system services, made up the largest contracts in the period.

Q-Free expects a continued positive long-term market development, although a tough economic climate generates political and financial challenges in some of the main markets and delays the realisation of a large market potential. Important progress has been made in new markets, in particular in Asia, although the process of commercialising the business opportunities demands much resources in terms of time and effort.
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • System predicts train delays and informs response
    February 25, 2016
    David Crawford looks into the near-term future for Stockholm’s rail commuters. Swedish rail operator Stockholmståg, which runs commuter services in and around the country’s capital, is claiming a world first with the introduction of its automated Pendelprognosen (commuter prognosis) service. Developed to enable the prediction of delays as much as two hours before they are likely to occur, this offers the operator the scope for much earlier remedial action than previously - for example by filling in the expe
    Read More
  • Debating road user charging systems
    January 26, 2012
    Are pre-launch trials of charging systems the way to improve public acceptance? Or is the real key a more robust political attitude? Here, leading system suppliers discuss the issue. The use of distance-based Road User Charging (RUC) is now well established, at least for heavy goods vehicles on strategic roads. However demand management for all vehicles, whether a distance-based charge or some form of cordon scheme, has yet to make significant progress. This is in spite of the logic and equity of RUC being
    Read More
  • Safe-driver training reduces costs, increases safety
    February 3, 2012
    Hermes, one of Europe's leading home delivery specialists, and part of the Otto group's European logistics division, estimates that introducing a range of safe-driving measures in its UK operations have contributed to a US$1.5 million cost saving to the business in the 12 months to April 2010.
    Read More
  • Success of Slovakia’s ETC system
    July 16, 2015
    Slovakia’s complex electronic toll collection (ETC) system has seen steady growth since it opened in 2010; toll collection in 2013 totalled US$161 million, while in 2014 US$200 million of told were collected. The first quarter of 2015 saw a total of US14.4 million of tolls collected. At the end of March 2015, 245,408 on-board units (OBUs) were registered with the system; 72 per cent of OBUs are registered to foreign drivers. Designed, developed and operated by Skytoll on behalf of the National Motorwa
    Read More

Highlighted Content