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

  • California’s green transport solution – the electric cargo bicycle
    August 29, 2013
    An electric cargo bike, the 2x4 (two by four), developed by California-based NTS Works, can carry large objects into tight urban centres and other locations where deliveries by full-size vehicles can be difficult and costly, according to the company. The lightweight, compact 2x4 is only slightly larger than a conventional cycle and has a flat cargo bed in front that can hold up to eight grocery bags. An electric motor assists the rider when pedalling and is adjustable via a handlebar mounted display so
    Read More
  • Future of tolling: the priorities
    January 14, 2020
    In the final part of his investigation into the future of tolling technology, Josef Czako of Moving Forward Consulting asks what industry figures see as the priorities going forward…
    Read More
  • Tags or communication based toll payment systems?
    January 20, 2012
    Midland Expressway Ltd's Tom Fanning discusses deployment of Near Field Communicationbased payment on the M6 Toll facility The M6 Toll's introduction from early next year of Near Field Communication (NFC) is a pragmatic response to the relative scarcity of tolled facilities and the concomitant low levels of tag take-up in the UK, according to the road's operator, Midland Expressway Ltd (MEL). Nevertheless, Dedicated Short-Range Communication (DSRC)-based tags operating at 5.8GHz are still a key part of the
    Read More
  • TagMaster acquires CA Traffic
    April 28, 2017
    TagMaster, Swedish supplier of advanced RFID products and ANPR cameras for vehicle identification within traffic and rail solutions, has acquired CA Traffic from Hill & Smith Holdings for a total cash consideration of US$4 million (£3 million). Established in 1994, CA Traffic offers an array of sensor products, ITS software systems and high specification ANPR cameras in the UK. It has provided traffic monitoring devices to UK local authorities for 25 years and supplied intelligent ANPR camera systems to UK
    Read More

Highlighted Content