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

Bailón adds Schmitz Cargobull reefers

Zaragoza, Spain: Bailón group has added four new Schmitz Cargobull refrigerated trailers to its fleet, taking the total to 27. The group is the largest …

READ THE FULL STORY >

Chereau appeals for hydrogen production at distribution sites

Avranches, Normandy, France: Chereau is encouraging companies to set up hydrogen plants at distribution sites to encourage hydrogen refrigeration in trucks. Chereau is testing hydrogen-based …

READ THE FULL STORY >

Lineage Logistics buys Emergent

Novi, Michigan, USA: Lineage Logistics has acquired Emergent Cold in a $900m deal. The deal, first announced in November, marks Lineage’s entry into the Australia, …

READ THE FULL STORY >

Lineage Logistics buys Henningsen Cold Storage

Novi, Michigan, USA: Lineage Logistics has bought Henningsen Cold Storage Company. The deal bolsters Lineage’s presence in the Pacific Northwest adding 14 sites in Oregon, …

READ THE FULL STORY >

WHAT’S ON

  • Cold Chain Live
    Make a diary note for Cold Chain Live, 24 – 25 September, Birmingham, UK

Latest Tweets

© 2020 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