CEVA Logistics Announces Preliminary Results for Second Quarter 2018

CEVA Logistics AG, one of the world‘s leading asset-light third-party logistics companies, announced today preliminary results for the second quarter 2018 in the context of its ongoing refinancing. These preliminary results are based on internal management accounts and reflect CEVA‘s preliminary expectations for its results for the period. The preliminary results have not been reviewed or audited by CEVA‘s independent auditor.

Our business has continued to perform well in the second quarter ended 30 June 2018. We expect revenue growth of approximately 7.3% versus the prior year comparable period for the Group, with revenue increasing approximately 5.1% in constant currency. Freight Management revenue growth is estimated at approximately 5.4% while revenue growth in Contract Logistics has accelerated to approximately 4.7%, both in constant currency.

Major industry sectors, including automotive, continue to exhibit good growth. We anticipate Adjusted EBITDA1 for the second quarter to be approximately $77 million, an increase of approximately $7 million over the prior year comparable period. This represents an EBITDA margin2 of approximately 3.6%, up approximately 30 bps year on year in constant currency.

We have made progress in our productivity, cost reduction and other margin improvement initiatives. For the first six months of 2018, Adjusted EBITDA is expected to be approximately $143 million, $19 million higher year on year, with revenue growth of approximately 5.2% in constant currency.
 

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