CEVA Logistics, a global non-asset based supply chain management company, yesterday reported strong underlying performance, at constant exchange rates, in the second quarter, building on the momentum established in the second half of 2010 and first quarter 2011.
At actual exchange rates, reported revenue was EUR1,713 million (USD2.45 billion) and EBITDA was EUR81 million. Results for the second quarter were impacted by fluctuating exchange rates. Expressed at constant exchange rates, revenue and EBITDA increased 3.8 percent and 35.4 percent respectively compared to the same period last year.
Total revenue for the first half of 2011 is EUR3,399 million, up 5.2 percent on the same period last year, and EBITDA of EUR152 million, an increase of 29.9 percent on the first six months of 2010. At constant exchange rates revenue increased 6.8 percent with EBITDA up 34.2 percent over the same period in 2010.
The company has achieved good year-on-year improvements in new business performance, recording over EUR1.0 billion of new wins in the first six months of 2011, particularly in China and with CEVA’s Century customers: a group of approximately 100 large global customers who represent over 50 percent of revenue.