Global supply chain business, Ceva Logistics, has reported that its Q1 2018 revenue rose to €1.5 billion, 12.2 per cent more year-on-year, with adjusted earnings before interest and tax of €56 million (+22 per cent year-on-year).
The Q1 2018 revenue generated in Ceva’s freight management sector jumped to €681.2 million, up 14.4 per cent year-on-year, or +8.7 per cent in constant currency.
Revenue in the contract logistics division amounted to €837.3 million, +10.4 per cent year-on-year, or +2.8 per cent in constant currency. The increase reflects, inter alia, volume growth, new business wins and transfer of the contract logistics activities in China to the Anji-Ceva JV.
Growth was particularly strong in some of the European clusters, Latin America and southeast Asia. Q1 2018 saw the implementation of major automotive and industrial contracts and new e-commerce and consumer/retail contracts, notably in the USA, Australia and Brazil.