Ceva's $440m Turkish M&A dish – what's in it?
Tasty… or…
Ceva Logistics today reported third-quarter results that showed it winning market share in both freight forwarding and contract logistics.
However, despite strong volume growth in both air and ocean forwarding, group revenues remained flat due to weak market pricing.
The Nertherlands-headquartered company saw $1.68bn in revenue for the period, This compares with 1.7bn in the same period last year – although it claimed that on a constant currency basis its revenues were $1.72bn.
Adjusted EBITDA was $75m, or $80m on a constant currency basis, compared with $80m in ...
Comment on this article
Andrew Robins
November 16, 2016 at 3:42 amSo they have gained market share but have not increased revenue. So they are gaining business at a negative margin or at best cost.
We have seen so many CEVA press releases of gaining business here, signing contracts there and always the same result.
They seem to have very faithful investors, just looks like smoking mirrors to me,
Rok
November 18, 2016 at 8:07 amRevenue down again..looks like the only French connections makes money in this game
Spinning well