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

  • Visionary UK strategy ‘needed to unblock benefits of new motoring technologies’
    March 6, 2015
    The UK government Transport Select Committee has called for a Visionary UK strategy to maximise benefits of new motoring technology in its report, Motoring of the Future. The committee says new automotive technologies could unblock congested highways, deliver a step change in road safety and provide the basis for rapid industrial growth, but the Department for Transport (DfT) will need to develop a comprehensive strategy to maximise the benefits of new motoring technology, such as telematics and driverless
    Read More
  • The free and open internet is dead
    June 25, 2018
    A key US vote may have changed what internet service providers are allowed to charge and how they restrict content: Joe Dysart explains why this has consequences for ITS companies. While most people were rushing around last December, grabbing last-minute gifts for the holidays, the US Federal Communications Commission (FCC) voted to drive a stake into the heart of the free and open internet. In a majority vote, the agency killed ‘net neutrality’ - a policy that has prevented your regional internet service
    Read More
  • Positive growth opportunity predicted for motor manufacturers in automotive applications
    August 19, 2016
    The worldwide revenue for electric motors in automotive applications is expected to increase to over US$30 billion in 2019, up from US$26 billion in 2014, according to IHS Markit Technology. Likewise, technological innovations in the automotive industry have created momentum to drive the growth of the electric motor market, especially DC brushless motors, which is predicted to outperform market growth for all other motor types by double. The IHS Markit Technology report, Electric Motors in Automotive A
    Read More
  • The UK’s busiest crossing adopts free flow charging
    April 30, 2015
    Colin Sowman looks at the transition to free-flow charging on the Dartford Crossing, a notorious congestion blackspot on the UK motorway network. The Dartford Crossing, where London’s orbital M25 motorway crosses the lower reaches of the River Thames 32km (20 miles) to the east of Central London, has long been a major source of congestion. Now, to alleviate the congestion caused by some 50 million crossings per year, the Highways Agency has adopted a free-flow charging system - but the Crossing’s location a
    Read More

Highlighted Content