Q-FREE - FIRST QUARTER RESULTS 2019
Order intake in the first quarter was very strong. Q-Free has now had six consecutive quarters with order intake growth and a book-to-bill ratio above 1. As a result of the strong order intake in previous quarters, the company delivered 9 percent organic revenue growth in Q1-19. EBITDA was temporarily down because of customer/product mix effects.
Highlights for Q1-19 include:
* 298 MNOK in order intake, up 47% from Q1-18
* 223 MNOK in revenues, up 9% YoY driven by 25% growth in non-tolling businesses
* 9 MNOK in EBITDA, down from 16 MNOK in Q1-18. IFRS-16 positively impacted EBITDA with 5 MNOK
* 1 192 MNOK in order backlog, up 16% from Q1-18
* 734 MNOK in FY 2019 revenues secured at the end of Q1-19, 29% above secured FY2018 revenues end of Q1-18
- We are very satisfied with the continued strong order intake, which proves the commercial attractiveness of our various offerings and supports our double-digit revenue growth target. The EBITDA fluctuation in Q1-19 is temporary as we have a high backlog that supports strong revenue growth and margin expansion in the coming quarters, comments CEO in Q-Free, Håkon Volldal.
The live broadcast, starting at 9 AM CET, can be followed on
A recorded version will be available after the webcast has been concluded.
Enclosures: Q1-19 report, Q1-19 presentation
For further information, please contact:
President & CEO, Håkon Volldal: +47 977 19 973
CFO, Tor Eirik Knutsen: +47 950 50 062
Q-Free is a leading global supplier of ITS (Intelligent Transportation Systems) products and solutions. The company has approximately 383 employees, offices in 16 countries, and a presence on all continents. Headquartered in Trondheim, Norway, Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.