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

For more information on companies in this article

Related Content

  • Automotive telematics and smart energy will lead M2M market growth
    March 22, 2012
    According to ABI Research’s new study, Cellular M2M Connectivity Services, the M2M market has become a fully mainstream segment of the cellular industry. By the end of 2011, most major mobile operators in North America, Europe, and the Asia-Pacific region had established M2M business units to focus their efforts in this fast growing market. ABI Research predicts that the market for cumulative cellular M2M connections will rise from about 110 million connections in 2011 to approximately 365 million connectio
    Read More
  • Growth of passenger counting and passenger information systems market
    April 2, 2015
    According to a new market research report ‘Automated Passenger Counter and Passenger Information System Market by Application (Railway, Roadway, Airway, and Waterway), by System (Hardware, Software and Services), by Component and Device; and by Geography - Global Analysis and Forecast to 2020, the automatic passenger counting market is expected to reach US$194.17 million by 2020, growing at a CAGR of 22.2 per cent from 2014 to 2020; whereas, the passenger information system market (PIS) is anticipated to re
    Read More
  • ASECAP examines tolling’s trials, tribulations and triumphs
    September 4, 2018
    If you want to get up to speed on the main issues facing the transport sector and tolling companies, ASECAP Study Days event in Ljubljana was a good place to start. Colin Sowman reports (Photographs: Louis David). Increasing populations, ever-higher technical and safety requirements, and electric and hybrid vehicles will provide both challenges and opportunities for tolling companies. The annual Study Days event organised by ASECAP (the European association for tolling companies) examined all of these aspec
    Read More
  • Tolling is the 21st century’s road funding solution
    June 5, 2015
    HNTB’s Rick Herrington and Brad Guilmino put the case for tolling. Tolling is becoming the 21st century solution of choice for generating additional user-based transportation revenue. The proven funding source is being seriously considered for expanded use by cities, states and even the federal government with support from elected officials across the political spectrum. In fact, with each federal transportation reauthorisation, tolling restrictions have been relaxed.
    Read More

Highlighted Content