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CEVA operating profit up 22pc to US$272 million, but sales slip 0.5pc
DUTCH forwarding giant CEVA Logistics posted a 22 per cent year-on-year increase in operating profit (EBITDA) to US$272 million in 2015, drawn on revenues of $6.9 billion, down 0.5 per cent.
Fourth quarter operating profit was down 1.4 per cent year on year to $66 million, drawn on revenues of $1.7 million, down 5.1 per cent.
Freight management operating profit of $70 million resulted in 241 per cent improvement in constant currency, the company said.
"2015 new business pipeline consistently above prior year. A 45 per cent increase in field sales teams year on year resulted in significant new business wins in 2015 and a strong pipeline for 2016," said the company statement.
"CEVA's 2015 year-end performance is the latest in a series of strong quarters for our company," said CEO Xavier Urbain.
"We see that the execution of our new strategy, launched in 2015, is delivering tangible results despite the volatile year-end economic environment and short peak season," he said.
"Of our 17 geographical clusters, 15 performed at or above expectations in 2015, which shows that our operating model is working. We also see a number of opportunities to further improve our EBITDA in 2016," Mr Urbain said.
"Full year air freight volumes increased marginally and despite a short peak season, Asia exports performed relatively well in Q4," said the company statement.
Contract logistics full year revenues increased 1.5 per cent year-on-year when adjusted for disposals in constant currency, resulting in stable EBITDA performance of $202 million.
Contract logistics continued its upward trend closing 14 per cent higher year on year, with significant opportunities in automotive, healthcare and consumer & retail.
CEVA Logistics employs 41,000 employees in than 160 countries.
Fourth quarter operating profit was down 1.4 per cent year on year to $66 million, drawn on revenues of $1.7 million, down 5.1 per cent.
Freight management operating profit of $70 million resulted in 241 per cent improvement in constant currency, the company said.
"2015 new business pipeline consistently above prior year. A 45 per cent increase in field sales teams year on year resulted in significant new business wins in 2015 and a strong pipeline for 2016," said the company statement.
"CEVA's 2015 year-end performance is the latest in a series of strong quarters for our company," said CEO Xavier Urbain.
"We see that the execution of our new strategy, launched in 2015, is delivering tangible results despite the volatile year-end economic environment and short peak season," he said.
"Of our 17 geographical clusters, 15 performed at or above expectations in 2015, which shows that our operating model is working. We also see a number of opportunities to further improve our EBITDA in 2016," Mr Urbain said.
"Full year air freight volumes increased marginally and despite a short peak season, Asia exports performed relatively well in Q4," said the company statement.
Contract logistics full year revenues increased 1.5 per cent year-on-year when adjusted for disposals in constant currency, resulting in stable EBITDA performance of $202 million.
Contract logistics continued its upward trend closing 14 per cent higher year on year, with significant opportunities in automotive, healthcare and consumer & retail.
CEVA Logistics employs 41,000 employees in than 160 countries.
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