Q-FREE – FOURTH QUARTER AND PRELIMINARY FULL YEAR RESULTS 2016
Q4 2016 * 241 MNOK in revenues, up 23% from 197 MNOK in Q4-15 * 7 MNOK in EBITDA. Performance negatively impacted by 12 MNOK in inventory write-down and work in progress principle adjustments in Q-Free UK * 196 MNOK in order intake, 55 MNOK in announced and 141 MNOK in unannounced orders * 1.4 bn NOK in order backlog, 615 MNOK scheduled for delivery in 2017 * Cost savings program initiated in Q3-16 finalized with 50 MNOK in annual gross OPEX savings as promised * 134 MNOK in gross proceeds from private placement in October, cash flow further improved due to good cash