Swiss 3PL major CEVA Logistics, now controlled by French firm CMA CGA, has reported mixed results for the quarter ending September 30th. The company reported EBITDA figure of $125 million for the quarter which is significantly higher than the corresponding quarter figure last year. Its revenues,however, declined by 3.4% reaching close to $1.75 billion.
The group saw a marginal to modest decline in its key verticals – Contract Logistics and Freight Management. The revenues in the contract logistics business went down by 4.8% at $884 million. In freight management business, the drop in revenue was marginal – 1.9 % with the reported figure at $864 million.
“Freight Management results are generally stronger in the final two quarters of the calendar year, which is partly offset by Contract Logistics results, which are often weighted to the first half of the year,” CEVA said in a release. “Seasonality is also offset to some extent by its sector diversification, as well as the global nature of its business; however, overall [our] company’s first quarter is generally the weakest,” it added.