News / Ceva struggles with air freight, with no end in sight for private equity owner

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Private equity-owned CEVA Logistics today reported another set of dismal annual financial results.

Revenues, earnings before interest, tax, depreciation and amortisation (ebitda), ebitda margins and net investment were all down in 2013. On the plus side, net debts were also down (because investors were tapped for more cash) while operating cashflow was up.

Disclosing fourth-quarter and year-end results today, management said ’adjusted’ 2013 ebitda was $277 million, down almost 3% on 2012, but they also highlighted fourth-quarter ebitda of $77 million which ...