Q-Free reports strong revenue growth

Q-Free has reported strong revenue growth in the fourth quarter of 2014, reflecting a substantial increase in sales within the advanced transportation management systems (ATMS) business following the acquisition of US-based Open Roads by the end of the third quarter 2014 and an increase in product revenues. “In early 2014, we revised our strategy and now aim at creating more leads in the small and mid-sized segments. In Q4, we have made significant progress in this respect. At the same time we succeeded
February 12, 2015 Read time: 2 mins
RSS

108 Q-Free has reported strong revenue growth in the fourth quarter of 2014, reflecting a substantial increase in sales within the advanced transportation management systems (ATMS) business following the acquisition of US-based Open Roads by the end of the third quarter 2014 and an increase in product revenues.

“In early 2014, we revised our strategy and now aim at creating more leads in the small and mid-sized segments. In Q4, we have made significant progress in this respect. At the same time we succeeded in improving our overall financial performance and increased our operational cash flow,” commented Q-Free CEO, Thomas Falck.

Revenue in the quarter was US$334 million, up 71 per cent from the corresponding quarter in 2013. For the full year 2014, revenues increased by 30 per cent to US$103million, up from US$479 million in 2013. EBITDA improved to US$11 million from minus US$4 million, while EBIT was US$1 million, an improvement on 2013’s minus US$12 million.

“We see that the expansion into ATMS is starting to pay off and we see signs of improvement in the road user charging market. In Q4 we demonstrated improving underlying margins from increasing volumes. We still have a long way to go and we expect some volatility in the quarters to come, but we are taking steps to continuously improve our business to become a stronger and healthier player within the ITS market,” Falck continues.

Order intake during the fourth quarter amounted to US$44 million, up from US$24.9 million in the third quarter 2014. By the end of the period, total order backlog amounted to US$63 million, of which US$47.5 is for delivery in 2015.

UTC Charging, Tolling & RUC

Related Content

  • August 15, 2013
    Positive outlook for Q-Free
    Q-Free reported revenue of US$25 million for the second quarter 2013, an increase of 29 per cent from the same quarter last year. Operating profit (EBIT) improved to a positive US$51,000 from an operating loss of US$3.8 million in the same period last year. Loss before tax was reduced to US$391,000 from a loss of US$3.9 in the second quarter 2012. The improved earnings mainly reflect changes in the revenue composition, with higher product and service and maintenance revenue.
    Read More
  • February 26, 2015
    Kapsch sets course for higher profitability
    Kapsch TrafficCom experienced stable business development in the first three quarters of 2014/2015 with existing installation and operation projects. The Group was also able to obtain a number of new orders in Australia during the third quarter, although new major orders, upon which the innovation and growth plans are based, remained elusive due to the lack of corresponding invitations to tender. Revenue of the Group during the first three quarters of the 2014/15 fiscal year was US$283.5 million, slightly b
    Read More
  • September 4, 2014
    Iteris reports strong 2014 growth
    Iteris has reported financial results for its fiscal fourth quarter and full year ended31 March 2014, indicating total revenues in the fourth quarter of 2014 increased 11 per cent to US$17.6 million compared to US$15.9 million in the same quarter last year. This was primarily driven by a 25 per cent increase in roadway sensors. iPerform revenues were also up 14 per cent, while transportation systems revenues were down one per cent. Total revenues in 2014 increased 11 per cent to US$68.2 million compared to
    Read More
  • March 20, 2015
    Q-Free increases its stake in Intelight
    Q-Free has increased its stake in US traffic controller supplier, Intelight, with a five year option program which will give shareholders the option to sell shares at closing in 2015 and in five subsequent years valid from 2016. The deal will give Q-Free the opportunity to add some 15 per cent of Intelight shares to its current 10.2 per cent shareholding each year. At end of the five year period, Q-Free has the option to acquire the rest of the shares. The first transaction will be closed during the second
    Read More

Highlighted Content