Ceva Group first quarter results

Hoofddorp, The Netherlands:  Ceva Logistics, a non-asset based supply chain company reports revenue of €1,712m driven by strong performance in contract logistics and ocean freight in its first quarter trading ending in March.

Adjusted EBITDA was €66m, down 7% reflecting difficult market conditions particularly in airfreight, it said.

John Pattullo, chied executive said: “Our ocean business performed well and we continued to make solid gains in contract logistics driven by excellent performance from the automotive and industrial sectors.  The airfreight market continues to be challenging, with Ceva’s performance mirroring that of many of our competitors.”

Revenue for the group increased 2% to €1,712m (2011: €1,686m) in the quarter. Contract logistics revenues increased 3% driven by the automotive sector, particularly in Asia and North America, as well as strong year-on-year growth in the Industrial sector.

In freight management, where revenues were flat overall, ocean freight performed well following significant management focus in 2011, while disappointing airfreight performance mirrored a difficult quarter experienced by the broader airfreight market.

WORLD NEWS

Arla gets keys to sustainable transport

Gothenburg, Sweden: Arla has taken a step further towards a fossil-free future with Scania’s symbolic handover of vehicle keys to signify a deal to provide …

READ THE FULL STORY >

Carrier Transicold unveils new Vector fridge

Rueil-Malmaison, France: Carrier Transicold Europe launched its next generation temperature-controlled trailer system – the Vector HE 19 (High Efficiency) at the IAA Commercial Vehicle show. …

READ THE FULL STORY >

Associated Wholesale Grocers uses Orbcomm reefer monitoring

Rochelle Park, New Jersey, USA: Associated Wholesale Grocers is monitoring its refrigerated and dry trailer fleet with with Orbcomm hardware and cloud-based analytics platform. Associated …

READ THE FULL STORY >

European truck sales rise

Brussels, Belgium: Commercial vehicle registrations in the main European markets rose 7.3% in August, continuing a trends throughout the summer, according to the European Automobile …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

SOR trailers for Culina: bit.ly/2C4jKxb

© 2018 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ