News / CEVA blames 'soft markets' for disappointing results

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CEVA Logistics announced its first quarter results for 2013 this morning, and painted the many challenges still facing the company, with little sign of a turnaround from the fourth quarter of last year, or in the wake of its recently completed capital restructuring.

Revenues were down 6% year-on-year to €1.6bn, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) more than halved, from €66m in the first quarter of 2012 to €31m in the first quarter of this year.

The company ...