Q-Free has received a 3-year frame agreement for delivering traffic counting systems and related services to the Department for Transport in the UK. The customer has options to extend the duration of the contract by 1+1 years. The contract has an expected value of 88 MNOK including options, implying annual sales of ~18 MNOK.
In accordance with Q-Free definition of order backlog, frame agreements are not reported as order intake nor included in the order backlog until specific orders under the contract are received. However, this contract is expected to secure a significant volume for our Infomobility products in Europe.
– This is the fourth consecutive time this key contract has been awarded our UK-team. We have held this key account continuously since 2008. Yet again, we see that the customer appreciates the quality and consistency our team deliver over time, whilst we still have a competitive pricing, Interim CEO Trond Christensen comments.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA, on 21 September 2022 at 08:30 CET.
For further information, please contact:
Interim CEO, +47 481 02 754
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society. Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately NOK 900 million and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is "changing the movements of life", visit www.q-free.com or Twitter:@Q-FreeASA