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

  • PB names global chief operating officer
    June 14, 2012
    Parsons Brinckerhoff has named Greg Kelly to the newly created position of global chief operating officer (COO). Clifford Eby succeeds Kelly as president of Parsons Brinckerhoff’s Americas Transportation operating company. “The COO position is being created to ensure the continued success of each of our operating companies and to enhance their abilities to work together across our expanding global operations,” said George J. Pierson, president and CEO of Parsons Brinckerhoff. “Greg Kelly has led our large
    Read More
  • Q-Free awarded toll contract extension
    September 1, 2015
    The Norwegian Public Roads Administration (NPRA) has awarded Q-Free an order valued at around US$4 million for a six-month extension of the ongoing contract for operation of Norway’s central toll collection system. The contract extension begins mid-December.
    Read More
  • Efkon awarded major tolling orders in Germany and Malaysia
    April 9, 2013
    Austrian intelligent transportation and tolling solutions supplier Efkon Group has been awarded two major tolling contracts in Germany and Malaysia. As one of the main suppliers to the German truck tolling system, Efkon has received a follow-up order for the delivery of on-board units (OBU) for the satellite-based truck tolling system in the country. The OBU is installed in a vehicle to ensure the automatic payment of toll charges in electronic toll collection (ETC) systems. Efkon, one of the main supplier
    Read More
  • Increased traffic forecasts underline need for well maintained roads
    March 19, 2015
    New traffic forecasts from the Department for Transport underlined the need for greater investment to improve the condition of the UK’s road network. The Road Traffic Forecasts 2015 predicts that levels of traffic will increase on motorways and major roads by up to 60 per cent in 2040 compared with 2010 levels. For principal roads the increase from 2010 to 2040 could be as high as 51% and for minor roads the prediction is up to 54 per cent. Car ownership is predicted to increase from 25 million in 2010 to 3
    Read More

Highlighted Content