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LATEST NEWS

CEVA demonstrates resilience

05 August 2016/Categories: CILT, Industry News, Freight Forwarding, Logistics & Supply Chain, Corporate News


CEVA Holdings LLC (“CEVA” or the “Company”), one of the world’s leading asset-light based supply chain management companies, today reported results for the First Half 2016 ended 30 June, 2016.

Key Financials ($ millions) Year-to-date

 

H1 2016

H1 2015(a)

% Change

% Change

Constant FX

Revenue¹

3,232

3,507

(7.8)

(4.1)

Adjusted EBITDA¹ (b)

118

125

(5.6)

1.6

 

¹ Segmental EBITDA and Revenue numbers excludes the impact of specific items
(a) Key Financials table above exclude the impact of disposals representing $45 million for revenue and $1 million on EBITDA in H1 2015.
(b)  Adjusted EBITDA includes the proportional contribution of the Anji-CEVA joint venture ($19m) and excludes the impact of specific items which are significant non-recurring items such as restructuring and certain legal expenses.

                                                 
“CEVA’s forward momentum continues in line with our strategy. Our half-year performance demonstrated stable net revenue in the first half driven by above-market growth in air and ocean freight and resumed growth in Contract Logistics,” said Xavier Urbain, CEO. “This is good progress, however we won’t stop here. As the logical next step in CEVA’s evolution, a global operational excellence program was started in April to take the organization to the next level by simplifying and applying consistent standards and best practices across the organization with the goal of better serving our customers. This program will also help us to deliver additional productivity improvements for all our business lines.”

“We have successfully introduced a new structure for Freight Management in the US and have an experienced management team in place. With the roll-out of our One Freight System in North America, CEVA can now provide customer shipment oversight through a single, global freight management system. Our ongoing investment in field sales teams led to a number of significant new business wins and renewals in the Automotive, Consumer & Retail and Technology sectors.”

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