CEVA Logistics reports revenue increase

CEVA Logistics has reported that its revenues for the second quarter (Q2) of 2018 were $1,848m, up 7.3% on last year.

EBITDA for the quarter was up 11.9% at $66m.

Commenting on the results, Xavier Urbain, CEO of CEVA Logistics, said: “CEVA continues to perform well. We now have achieved seven consecutive quarters of strong top-line growth and stronger EBITDA.

“We continue to reduce our cost base, work on productivity and address our underperforming activities. In the first half of the year, margin growth has been skewed towards Freight Management, we expect Contract Logistics to make more progress in the second half of the year as we have largely addressed the issues. We are committed to further improving our margins and are moving in the right direction.

“Whilst still early days, initial benefits from the deleveraging through the IPO are already materializing. We have increased business with some existing clients and are engaged in a number of promising discussions. In general, we have good momentum in business development. We are also making progress in developing our partnership with our new strategic shareholder CMA CGM.

“Looking ahead, we are confident in further improving our performance this year and in meeting our medium-term targets.”