Q-FREE- RESULTS FOR THE SECOND QUARTER AND FIRST HALF 2016

Highlights:

Q2-2016

- Revenues of 246 MNOK, 38% growth YoY

- EBITDA of 11 MNOK (4.6% margin), vs 14 MNOK in Q2 15 

- Order intake of 200 MNOK, mostly from smaller unannounced orders

1H 2016

- Revenues of 465 MNOK, 26% growth YoY

- EBITDA of 17 MNOK (3.7% margin), vs 33 MNOK 1H 2015 

- Order intake of 523 MNOK, up 94 MNOK YoY

POST Q2-2016

- All complaints related to the 472 MNOK tender award in Slovenia rejected, will result in record high order backlog

- Frame agreement with Via Verde in Portugal with an estimated value of 75-90 MNOK obtained

-Second quarter 2016 was a decent quarter for Q-Free. We delivered strong growth year-on-year and enter the second half 2016 with a high order backlog. We expect to capitalize on this order backlog and deliver high organic growth and improved profitability going forward. Our recent contract wins in Portugal and Slovenia, which happened post Q2, demonstrate Q-Free’s strong product offering and competitiveness in the market, comments President & CEO in Q-Free, Håkon Volldal.

Enclosures: Q2-16 report and presentation

For further information, please contact:

President & CEO, Håkon Volldal: +47 977 19 973

CFO Roar Østbø: +47 932 45 175

About Q-Free

Q-Free is a leading global supplier of products and solutions within the global ITS market. The Q-Free Group has approximately 470 employees with offices in 20 countries and presence on all continents. The Q-Free head office is in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.

www.q-free.com 

Twitter: @Q-FreeASA

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