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

  • Report on the impact of recession on infrastructure funding worldwide
    May 10, 2012
    A new report examines how aggressive government belt-tightening and financial market deleveraging restrained worldwide infrastructure investments for 2012 and probably for the next five years. In the US, for instance, Infrastructure2012: Spotlight on Leadership, released by the Urban Land Institute (ULI) and Ernst & Young, says that constrained public budgets and a growing recognition at the local level of the importance of infrastructure, combined with lack of action at the federal level, are causing state
    Read More
  • Trailer telematics a catalyst for fleet optimisation, Finds Frost & Sullivan
    July 2, 2012
    The trailer telematics market is fast developing into a major growth engine for the commercial vehicles telematics market in Europe. Immense opportunities await telematics vendors as a majority of the trailer population in Europe (as well as North America) remains underpenetrated. Within the trailer telematics market, trailer location and tracking is the most developed application. However, security concerns and the need for effective mobile asset monitoring and management are creating several new applicati
    Read More
  • European associations and congress news
    August 19, 2015
    A preliminary speaker line-up and a number of live demonstrations have been announced for the 2015 ITS World Congress. The demonstrations will include Automatic Braking, a plug in ‘connected vehicle’ Cooperative Adaptive Cruise Control at Intersections, Remote Parking and Driver Monitoring System for Automated Driving and Bicycle Tracking. As part of the Automatic Emergency Braking demonstration the driver’s performance will be analysed, along with the behaviour of the other road users. Drivers will receiv
    Read More
  • Alternative fuel and hybrid vehicle ‘to grow at 12.9 per cent to 2022’
    October 21, 2016
    A new report published by Allied Market Research, Alternative Fuel and Hybrid Vehicle (AFHV) Market by Alternative Fuel Type, Vehicle Type, and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022, projects that the world AFHV market is expected to reach US$614 billion by 2022, growing at a CAGR of 12.9 per cent during the forecast period. The passenger vehicle segment is estimated to dominate the market from 2016 to 2022. Asia-Pacific dominated the global market accounting for a market s
    Read More

Highlighted Content