Comment / Analysis: Ceva Logistics – The money pit in need of a break-up

France’s CMA CGM would do well to consider taking structural action at Ceva Logistics to curtail the latter’s role as a money pit and might be inspired by Kuehne + Nagel’s moves in contract logistics.

But first, a look at Ceva’s numbers.

So, with the first-quarter (Q1 ’20) unaudited figures released by the 3PL last Friday we found out that:

a) Revenues were flattish on a comparable basis, but the CMA CGM-owned group is getting slightly better at managing direct/indirect costs. That said, ...