News / How long can CEVA go on haemorrhaging more than $1m a day? ask analysts

CEVA Logistics appears to be nearing its end as a standalone business – the company is haemorrhaging more than $1m a day, with a loss of $278m in cash in the last nine months.

The company’s latest results show a year-on-year 6.8% uptick in revenues for the period January to September, but ebitda dropped 14.5% to $148m.

And the company reported losses of $198m, compared with last year’s $124m of red ink: one analyst describing the results as “dreadful”.

However, chief executive Xavier Urbain sought to emphasise a reduction ...