CEVA Logistics reported revenue of $1,776 million in the first quarter of 2015, down 4.8 percent year-on-year (up 4.6 percent on a constant currency basis). EBITDA for the quarter was $51 million, an increase of 18.6 percent over 2014, or 23.3 percent in constant currency.
The worldwide supply chain company reported freight management revenue up 6.1 percent and contract logistics revenue up 3.4 percent for the quarter. Air freight volumes were up 5.2 percent.
“The decision to move to a business line/cluster operating model has energized the company,” said Xavier Urbain, CEO. “We are seeing the visible impact of the operational improvements, ongoing streamlining of processes and greater responsiveness to our customer’s needs enabled by the new operating model.”