CEVA Logistics has reduced losses in 2015 to $195 million from $413 million in 2014 despite revenue falling below $7 billion.
Total revenue fell by 10.3 per cent from $7.7 billion in 2014 to $6.9 billion in 2015. Freight management revenue fell from $3.6 billion in 2014 to $3.3 billion in 2015, while contract logistics was down from $4.2 billion to $3.6 billion in 2015. CEVA says freight management revenue fell due to exchange rate effects but business wins improved results.
CEVA chief executive officer, Xavier Urbain says: “CEVA’s 2015 year-end performance is the latest in a series of strong quarters for our company. We see that the execution of our new strategy, launched in 2015, is delivering tangible results despite the volatile year-end economic environment and short peak season.”
By region, revenue was highest in Europe at $2.8 billion, followed by the Americas at $2.4 billion and Asia Pacific at $1.7 billion. Automotive made up 25 per cent of revenue, followed by consumer and retail at 24 per cent. Technology and industrial and aerospace accounting for 20 per cent each while the rest of the revenue was made up of energy, healthcare and ‘other’.