In the 2014 logistic group CEVA has recorded a net loss of -413 million dollars



In the 2014 logistic group CEVA Holdings, that it is controlled by the society of private Apollo Management equities, has recorded a net loss of -413 million dollars respect to a net loss of -51 million dollars in the exercise anniversary precedence. The revenues are diminished of the -4,0% attesting itself to 7,9 billion dollars. The EBITDA has been pairs to 142 million dollars (- 26.8%) and the operating result has been of sign negative for -41 million dollars respect to operating liabilities of -15 million dollars in 2013.

CEVA has evidenced the improvement of the economic results achieved in the last trimester of 2014 emphasizing that they demonstrate "that the new strategy put in existence in 2014 in three distinguished moments continuous to giving yields". The group has specified that in the fourth trimester of the 2014 revenues they are piled to beyond two billions of dollars, in increase of +3.5% to constant exchange rates and in light reduction of the -1,3% regarding the same period of the year precedence. The EBITDA rectified has recorded an increase of +33.9% on a yearly basis, excluding a happened extraordinary member in fourth trimester 2013, while including this voice an one-off from the results of the fourth trimester the EBITDA rectified turns out in decrease of -2,6%.

"CEVA - it has emphasized the managing director of the logistic group, Xavier Urbain - has constructed its competitive advantage in the fourth trimester. We begin 2015 - it has added - with a board total constituted from people of experience and leadership in the field of the logistics and a strategy focused on the market and based on lines of business in Freight Management (Air Freight and Ocean Freight) and Contract Logistics. To January 2015 we have implemented a new model of operating business in order to guarantee operating excellence in all our total net and for being more innovative and responsible towards our customers. The reaction of our customers to our plans has been more than positive, like it evidences the increase in the fourth trimester". 1° January 2015, in fact, CEVA has implemented a new operating model that has eliminated the regional organizational structures and it is based today on a structure that supports the lines of total businesses of CEVA with 17 local geographic clusters. The group has explained that the new operating model increases the responsibility of the local directions, that they are nearer at the market and the customers, allowing to take decisions more fastly and affording a greater alacrity in picking the new opportunities of business. From this CEVA transformation it previews a annual saving of 50-60 million dollars, with an extraordinary cost of approximately 30 million.