Hoofddorp, the Netherlands, 28 November 2012 – CEVA Logistics, one of the world’s leading non-asset based supply chain management companies, today reports results for the three months ended 30 September 2012.
- Revenue up 5.1% to €1,844 million in the Third Quarter, led by strong growth in Oceanfreight and the Automotive sector
- EBITDA1 of €70 million, primarily as a result of weaknesses in our CL segment, particularly in Southern Europe
- Solid progress in business development with an estimated €532 million new wins secured in the quarter
- Company announces comprehensive plan to reduce costs and improve contract performance with a net benefit of approximately €100 million.
Marvin O. Schlanger, CEO, said: “Weak economic conditions continued to weigh on customer sentiment in the Third Quarter. With no real prospect of a significant and sustained market recovery in the short term, we continue to focus our efforts on cost control to maintain our efficiency and on new business development to secure our future revenues and ensure we are ready to take advantage of any improvements in global markets.”
“Our Business Development activity has accelerated, resulting in our best quarter for contract wins since 2009. This is an important endorsement from the market of our unique operational capabilities and excellent service and value proposition.”
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