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Ceva stabilises in challenging market

August 5 - In its half-year 2016 results, Ceva posted revenues of USD3.23 billion - a 7.8 percent year-on-year decrease, while adjusted EBITA slid 5.8 percent year-on-year to USD118 million.

However, EBITDA calculated using constant currencies demonstrated a 1.6 percent year-on-year improvement over 2015 levels.

"Ceva's forward momentum continues in line with our strategy. Our half-year performance demonstrated stable net revenue in the first half driven by above-market growth in air and ocean freight and resumed growth in contract logistics," said Xavier Urbain, ceo.

The company's freight management arm posted an EBITDA of USD30 million, reflecting an increase of 32 percent year-on-year in constant currency. Airfreight volumes increased 6.6 percent year-on-year in the second quarter; ocean freight volumes were 2.2 percent higher year-on-year in Q2 2016 over 2015 levels.

www.cevalogistics.com

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