Q-Free ASA has been awarded an order for tags from Centro Gestao Meios de Pagto (CGMP) in Brazil valued at NOK 27 million. This order is a call off from the earlier announced frame agreement of NOK 72 million (15th of August 2012). The order will be delivered within the second half of 2013. Q-Free has a fully owned subsidiary in São Paulo, Brazil.

Q-Free ASA announced parent and group earnings results for the year ended December 31, 2012. For the period, on group basis, the company reported operating revenues were NOK 597,532,000 compared to NOK 704,912,000 in 2011. LBITDA was NOK 5,992,000 compared to EBITDA of NOK 107,409,000 in 2011. LBIT was NOK 55,306,000 compared to EBIT of NOK 58,907,000 in 2011. Loss before tax was NOK 44,623,000 compared to profit before tax of NOK 54,916,000 in 2011. Loss attributable to equity holders of the parent was NOK 34,642,000 compared to profit attributable to equity holders of the parent of NOK 35,640,000 in 2011. Diluted loss per share was NOK 0.51 compared to diluted earnings per share of NOK 0.57 in 2011. Net cash used from operations was NOK 19,886,000 compared to net cash flow from operations of NOIK 193,795,000 in 2011. Investments in tangible and intangible assets were NOK 54,195,000 compared to NOK 38,809,000 in 2011. For the period, on parent company basis, the company reported operating revenues were NOK 359,336,000 compared to NOK 432,561,000 in 2011. LBITDA was NOK 38,093,000 compared to LBITDA of NOK 52,364,000 in 2011. LBIT was NOK 76,000,000 compared to EBIT of NOK 15,325,000 in 2011. Loss before tax was NOK 48,035,000 compared to profit before tax of NOK 29,702,000 in 2011. Loss was NOK 30,597,000 compared to profit of NOK 24,265,000 in 2011. Net cash used from operations was NOK 17,171,000 compared to net cash flow from operations of NOIK 132,831,000 in 2011. Investments in tangible and intangible assets were NOK 36,412,000 compared to NOK 9,373,000 in 2011.

Q-Free ASA announced group earnings results for the first quarter ended March 31, 2013. The Q-Free Group generated revenues of NOK 138 million in the first quarter 2013, an increase of 14% from the first quarter 2013 revenue of NOK 121 million. This was a significant decline from the previous quarter, when revenue was boosted by the delivery of the Gothenburg congestion charging project. LBITDA was NOK 37,791,000 against EBITDA of NOK 2,185,000 a year ago period. Operating loss (LBIT) was thus NOK 53.4 million in the first quarter 2013 against NOK 9,842,000 a year ago period. Loss before tax was thus NOK 55.3 million in the first quarter, down from a loss of NOK 8.4 million in the first quarter 2012. Loss attributable to equity holders of the parent was NOK 42,050,000 against NOK 5,790,000 a year ago period. Loss per diluted share was NOK 0.61 in the first quarter, compared to NOK 0.09 in the first quarter 2012. Net interest bearing debt amounted to NOK 100 million at the end of the first quarter 2013 compared to NOK 100 million in first quarter 2012, the same amount as at the end of 2012. Cash flow used in operating activities was NOK 22,970,000 against NOK 49,327,000 a year ago period. Investments intangible assets were NOK 3,851,000 against NOK 3,730,000 a year ago period. Investments tangible assets were NOK 7,939,000 against NOK 6,000,000 a year ago period.