CEVA Group’s revenue in 2012 was €7.2 billion (about US$9.3 billion), rising 4.8 percent from $8.9 billion in 2011, according to the supply chain management company’s preliminary unaudited data.
However, adjusted earnings before interest, taxes, depreciation and amortization in both freight management and contract logistics were adversely impacted by economic conditions, CEVA said in a written statement. Overall adjusted EBITDA fell 21.8 percent year-over-year to $322.4 million.
“These are difficult times for everyone in the global logistics industry, and CEVA has not been immune to those pressures,” said Marvin O. Schlanger, CEVA’s CEO. He noted that the company has taken action to reverse its decline in profitability.