CEVA increased its adjusted EBITDA by five per cent to $124 million in the first half of 2017. Turnover was up 2.6 per cent at $3.3 billion.
In the second quarter, the Contract Logistics division had notable business wins in automotive, consumer & retail and e-commerce during the second quarter. As a result, revenue was up 4.5 per cent in constant currency.
The Freight Management division achieved revenue growth of 8.8 per cent YoY in constant currency. Air freight volumes were up 15.6 per cent and ocean freight up 3.5 per cent.
Chief executive Xavier Urbain said: “The Excellence Program, with a relentless focus on impeccable execution and productivity is demonstrating a strong momentum and we shall see more impact in the coming quarters. We have made much progress in terms of cost reductions and cash flow and we keep winning new business.