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.

Urban Traffic Control Charging, Tolling & RUC

Related Content

  • July 27, 2015
    Georgia DOT invests in ATMS
    US-based Intelight has been awarded a US$9.6 million framework agreement advanced traffic signal management and control (ATMS) frame agreement by the Georgia Department of Transportation (GDOT) for its state wide traffic signal software project. Intelight, a Q-Free Group company, will deliver ATMS and control software, as well as well as hardware upgrades for the state’s signalised intersections at up to 9,500 locations. The project utilises the latest available advanced transportation controller (ATC
    Read More
  • April 21, 2016
    Fitch: Solid growth to continue for US transportation
    US financial research organisation Fitch Ratings has released its spring US Transportation Trends report which indicates that growth will remain healthy for all three US major transportation sectors (airports, ports and toll roads) this year. Commenting on toll roads, Fitch notes that low fuel prices have boosted growth in traffic (6.6 per cent) and revenue (8.3 per cent) since the second half of 2015. The south-east and south-west US have and will continue to lead in traffic performance. The higher rate
    Read More
  • August 26, 2014
    Royal Imtech results ‘a decisive step’
    Royal Imtech has published its second quarter and half year 2014 results, taking what the CEO, Gerard van de Aast says is “a decisive step in Imtech's financial recovery”. The company has reported significant debt reduction and a fully underwritten rights issue of US$791 million. Revenue in the second quarter was US$1.2 billion, with an EBITDA loss in the same period of US$18.4 million. Order intake in the second quarter was US$1.24 billion. In addition, Imtech has reached agreement with Vinci SA on
    Read More
  • April 13, 2016
    Public safety demand driving ITS market growth, says report
    The latest report from RnR Market Research indicates that one of the major factors positively impacting the intelligent transport systems market is the growing need for public safety as collision avoidance and dynamic warning systems are introduced to reduce the frequency of accidents by making users more aware of their surroundings. The analysts forecast global intelligent transport systems market to grow at a CAGR of 8.23 per cent during the period 2016-2020. The report, Global Intelligent Transport Sy
    Read More

Highlighted Content