Profits were up 14 per cent at Ceva Logistics last year, despite a fall in revenue in 2015.
Contract Logistics revenues increased 1.5 per cent year-on-year when adjusted for disposals in constant currency, resulting in stable EBITDA performance of $202 million.
The group’s adjusted EBITDA rose 13.8 per cent to €272 million, on revenue down 103 per cent to €7bn.
CEO Xavier Urbain said: “We see that the execution of our new strategy, launched in 2015, is delivering tangible results despite the volatile year-end economic environment and short peak season. Of our 17 geographical clusters, 15 performed at or above expectations in 2015, which shows that our operating model is working. We also see a number of opportunities to further improve our EBITDA in 2016 driven by continued investments in our field sales teams and operations.
“Our organisational transformation continues and we’ve recently renewed our focus on enhancing opportunities within our ground transport organisation. Ceva’s assertive investment in field sales teams has led to successfully capturing new customers in 2015, particularly with small to medium enterprises,” he said.