Q-FREE SECOND QUARTER AND FIRST HALF YEAR 2014 RESULTS

Q-Free reported revenues of NOK 187 million for the second quarter 2014, an increase of 26 percent from the same quarter last year. Operating profit (EBITDA) improved to NOK 20.9 million from NOK 16.1 million,  EBIT improved to NOK 2.2 million from NOK 0.3 million, whereas pretax profit improved to NOK 0.3 million from a loss of NOK 2.3 million in the second quarter 2013.The revenue composition has over the last two years reflected a substantial increase in product sales and lower project revenues. This trend continued in the second quarter 2014, with product sales reaching the highest