CEVA Logistics – Hoofddorp, Netherlands
Yes, the CEVA-Geodis deal did fall through in September, but the Netherlands-based 3PL still remains a target – and has been one for a number of years – because of the more than $2 billion debt it still carries, despite improvement in productivity and a reduction of losses.
In the third quarter of 2017, CEVA reported free cash flow of $9 million, but also had overall losses of $22 million. However, the red ink flowed much less than in Q3 of 2016, when free cash flow plunged $50 million into the red.
CEVA’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached $85 million in Q3. For the year to date, adjusted EBITDA was $209 million, up $22 million in constant currency over the prior year. Some of this improvement is also coming from the rise in freight rates and weakness in the U.S. dollar, which could make CEVA a better deal for potential buyers in Europe.7 - Readers Like This Post