Profits flat at CEVA as market share grows

Despite a general rise in the cargo business in the third quarter of 2016 in many regions, Netherlands-based forwarder CEVA reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of US$75 million, down 6.3 percent compared with $80 million in the third quarter of 2015. In constant currency, however, CEVA’s Q3 results were flat at $80 million for Q3 2016. Revenue for Q3 was $1.68 billion, but was adjusted up to $1.72 billion in constant currency, registering a 0...

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