Ceva Logistics aims to expand its market position in 2012

Ceva Logistics registered record revenue accompanied by a significant increase in ocean freight volume in 2011

Through an important transaction on 1 February Ceva Logistics reduced annual interest expense, which positioned them well as a globally acting provider of supply chain management services. The group completed a transformational equity and debt funded financing, which eliminated over EUR 850 million of debt, reduced annual interest expense and extended other debt maturities.

Against this background the management is confident about the current financial year. “We believe that we have identified and prioritised the right actions to continue to strengthen our business model,  and build our market position so that we outperform our peer group in 2012” is the management’s outlook.

For the year 2011 Ceva Logistics reported revenues of EUR 6.9 billion. EBITDA before specific items increased by 10 per cent to EUR 321 million in 2011. New business transactions of EUR 1.8 billion exceeded their target. Commenting on the results, John Pattullo, CEO said: “2011 was a year of strong progress for us. We developed particularly well in the air and ocean freight business“, CEO John Patullo comments on the results. In the ocean freight area new LCL-services and expanded ocean freight services delivered a 17%-increase in total volumes.

Ceva Logistics headquartered in Hoofddorp (Netherlands) is specialising in the conception, implementation and operative handling of industry specific logistics solutions for groups as well as national and multinational medium sized enterprises. Approximately 51,000 employees at locations in over 170 countries are dedicated to customer service across a variety of sectors.

Quelle: LogEastics
Portal: www.logistik-express.com