CEVA posts record Q3 revenue

CEVA Logistics has reported record revenue and strong EBITDA performance in its third quarter results. 

Revenue for the quarter was up 32% to €1.82 billion (Q3 2009: €1.37bn), with EBITDA up 26% to €86 million (Q3 2009: €68m).

The group reported sequential revenue growth across both Freight Management and Contract Logistics.

Contract Logistics revenue continued to show growth, even with the seasonal holiday period during the third quarter, and Freight Management revenues now returned to pre-2008 levels.

The €86 million increase in EBITDA was primarily driven by the company’s success in reversing the previously reported Freight Management margin impacts and the ongoing focus on Contract Logistics profitability.

CEVA’s results improved across all regions. The Americas recorded a particularly strong quarter, with revenue and EBITDA showing year-on-year increases of 37% and 20% respectively. The SEMEA region also performed well as a result of the impact of several major new business wins.

Revenue in Q3 was driven by growth in the Consumer and Retail sectors, as well as continued improvement in the Automotive market.

At the end of the quarter, along with other international logistics companies, CEVA entered into a plea agreement with the Antitrust Division of the US Dept of Justice to resolve ongoing investigations into anti-competitive activity in the freight forwarding industry.  Under the terms of the agreement, CEVA accepted a fine of US$4.5 million.

Quelle: eyefortransport
Portal:  www.logistik-express.com

 

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