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

  • Q-Free Gothenburg congestion charging contract extended
    February 12, 2014
    Q-Free has received an extension order from the Swedish Transport Administration, Trafikverket, for service and maintenance on the Gothenburg congestion charging system. The order, valued at US$1.8 million, is the first extension of the two-year contract for road side equipment, infrastructure and service and maintenance awarded in 2012, and is due for delivery in 2015. Q-Free CEO Thomas Falck comments, “This is a confirmation of the long standing relationship between Q-Free and Trafikverket. For Q-Fr
    Read More
  • Blind spot detection and adaptive cruise control systems markets forecast to 2019
    August 15, 2014
    The MarketsandMarkets report, Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market for Passenger Cars; by Geography - Trends and Forecasts 2014 - 2019, indicates that the BSD market will be worth US$2.8 billion and the ADCC market worth US$6.1 million by 2019. The report classifies and defines the automotive BSD and ACC systems market in terms of volume and value. It report highlights potential growth opportunities in the coming years as well as covers review of the market dr
    Read More
  • ARTBA proposes path to breaking gridlock on transportation funding
    March 13, 2015
    The American Road & Transportation Builders Association (ARTBA) has outlined a detailed proposal it believes could end the political impasse over how to fund future federal investments in state highway, bridge and transit capital projects. The ‘Getting beyond gridlock’ plan would marry a 15 cents-per-gallon increase in the federal gas and diesel motor fuels tax with a 100 per cent offsetting federal tax rebate for middle and lower income Americans for six years. The plan, ARTBA says, would fund a US$401 bil
    Read More
  • Mobility pricing offers new tools for managing mobility
    November 23, 2017
    Mobility pricing is the best way of sustaining and enhancing mobility, argues Moving Forward Consulting’s Josef Czako. Mobility pricing (MP) is effectively the culmination of the ‘user pays’ principle and has been referred to in many policy discussions about electronic toll collection, road user charging (RUC), and pricing. MP not only reflects the ‘use more, pay more’ nature of RUC, it also takes account of the external cost of journeys including pollution, noise, the cost of congestion and accidents.
    Read More

Highlighted Content