Supply chain management company Ceva Holdings has reported positive results for the full year ended 31 December 2015.
Ceva’s Freight Management department reported adjusted EBITDA of $70 million, an increase of 241 per cent. Its Contract Logistics sector reported a full year revenue increase of 1.5 per cent year-on-year, resulting in stable EBITDA performance of $202 million.
“CEVA’s 2015 year-end performance is the latest in a series of strong quarters for our company. 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,” said Xavier Urbain, CEO of CEVA.
“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 driven by continued investments in our field sales teams and operations.
“Ongoing process and product improvements in all business lines continues to pay off and our emphasis on quality trade lanes allowed us to gain share on key routes during the course of the year. Our organisational transformation continues and we’ve recently renewed our focus on enhancing opportunities within our Ground transportation organisation.”