Q-FREE ASA – THIRD QUARTER RESULT 2009
Q-Free achieved record high revenues of 226.6 MNOK in the third quarter 2009, a growth rate of 88 % compared to the same quarter last year and 22% compared to the previous quarter.
“We are currently executing the most significant and advanced projects within the Road User Charging segment. This forms a strong basis for exploring similar cases going forward”, CEO Øyvind Isaksen comments. Highlights from the quarter - Operating profit of 30.5 MNOK – 13.5% margin - Profit before tax amounted to 33.1 MNOK, - 14.6% margin - Gross margin of 60.1 % - Cash flow from operations, 8 MNOK - Order intake of 174.2 MNOK - Order backlog of 884.3 MNOK “Successful implementation of the projects in Slovakia and Portugal, combined with continuing focus on improving both offering and execution, will secure long term positive development of the company”, says CEO Øyvind Isaksen. Enclosures: Quarterly report and presentation Trondheim 21st of October 2009