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

  • Improving urban traffic control in Atlanta
    January 27, 2012
    Hugh Colton, Georgia DOT details move to improve urban traffic control in the Atlanta area. With a significant proportion of traffic using freeways and toll-ways, along with a significant investment in roadway infrastructure, urban arterials are often the poor relation when it comes to ITS investment. Hitherto the primary means of Urban Traffic Control (UTC) has been the ubiquitous traffic signal. Many traffic signals still operate in a standalone mode and traffic detection is often broken, leaving the sign
    Read More
  • Joining old and new in Canada’s Highway 407
    June 17, 2016
    David Arminas visits Canada’s Highway 407 ETR to see how the concession is working and hear about new arrangements for the roadway’s extension. The Toronto region is North America’s eighth largest metropolitan area and its roads become notoriously congested. In 1997 Highway 407, a 68km concrete toll motorway which skirts the northern edge of Toronto, was opened and initially operated by the province and CHIC - a consortium of four leading Ontario-based companies. Finance came from the Ontario Financing Auth
    Read More
  • World ITS market expected to grow at a steady rate to 2020
    August 4, 2014
    The global market for intelligent transportation systems (ITS) is expected to reach US$38.68 billion by 2020, according to a new study by Grand View Research. Growing demand for optimising fuel consumption and reducing emissions is expected to be the key driving force for the market. ITS aids in reducing incidents such as road accidents and boost safety, which is estimated to positively impact demand over the next six years.
    Read More
  • Seamless transport - the need for connectivity and sustainability
    January 24, 2012
    At the beginning of August, 2011, Carole Coune took up her new role as Secretary General of the International Transport Forum at the OECD. Here, she tells ITS International of the challenges and opportunities the global sector faces. Transport is a growth industry. Despite the current financial crisis, the trend for transport is pointing upwards. Demand is mainly driven by global economic integration, a growing world population and rising incomes in emerging economies. As we head toward nine billion humans
    Read More

Highlighted Content