CEVA Holdings LLC reports 2014 first quarter results

Hoofddorp,  the  Netherlands,  6  May,  2014  ␣  CEVA  Holdings LLC, one of the world’s leading  non-­‐asset  based  supply  chain  management  companies,  today  reported  results  for  the  first  quarter  ended   31  March,  2014.

“CEVA   continues   to   show   strength   in   Contract   Logistics   driven   by   initiatives   the   company   put   in   place   to   increase   profitability,” said CEVA CEO Xavier Urbain, who took over as the company’s chief executive in January.  “We   have   not,   however,   been   immune   to   market   conditions   that   have   impacted   Freight   Management….”

CEVA  reported  revenue  of  $1,865  million  for  the  three  months  ended  31  March  2014,  down  8.9%  year-­‐on   year,   as   continuing   weakness   in   Airfreight   and   Oceanfreight   overall   impacted   Freight   Management   performance,  where  revenues  decreased  11.5%  compared  to  the  same  period  last  year.