Ceva: first quarter turnover fall is 'disappointing'

CEVA MAN truck

Turnover at Ceva Logistics fell 6% in the first three months of 2013, while its profit halved as the company continued with its cost reduction measures. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell to €31m (£26m), compared to €66m in the first quarter of 2012. Global turnover fell to €1.6bn, compared to €1.7bn in the same three months a year ago. Ceva CEO Marvin Schlanger said: “The weak economic conditions impacting the global logistics industry continued to […]