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

  • Kapsch’s scalable tolling back office accepts mixed feeds
    September 15, 2014
    Arno Klamminger and Wolfgang Fleischer from Kapsch’s ETC Business Unit outline a new back office solution which addresses the ongoing changes in the road user charging sector. The rapidly increasing scale of some Road User Charging (RUC) schemes, both current and proposed, presents systems developers and manufacturers with significant opportunities in terms of product sales. However, it also presents them with significant challenges - and size is but one part – as at regional, national and international lev
    Read More
  • Russia looks to ITS to curb congestion and reduce accidents
    May 7, 2015
    Major ITS installations are planned as the Russian capital Moscow grapples with extensive traffic problems. At the end of 2014, Russia’s first complex intelligent transport system (ITS) started easing traffic problems in and around the capital Moscow, following the implementation of the plans by the federal government and the city’s authorities.
    Read More
  • Australia trials shortened cost benefit evaluation
    January 13, 2017
    A shortened and tailored cost benefit assessment is helping show the worth of C-ITS in Australia. An Australian ‘rapid cost-benefit assessment’ method, introduced to help prepare the ground for co-operative ITS (C-ITS) deployment and showcased at the ITS World Congress in Melbourne, has generated encouraging results.
    Read More
  • 60% of new cars globally will feature connected car solutions by 2017
    July 4, 2012
    New findings from ABI Research predict that global OEM connected car system penetration will increase from 11.4 per cent in 2012 to 60.1 per cent in 2017. While penetration in the US and Western Europe will exceed 80 per cent by 2017, developing regions such as Latin America and Eastern Europe will also see strong increases in telematics penetration in new vehicles, largely driven by mandates in Brazil and Russia.
    Read More

Highlighted Content