Ceva logistics definition of ceva logistics and synonyms of ceva logistics (English)

CEVA Logistics.

CEVA Logistics is a global logistics company. It is involved in freight management, contract logistics, distribution and transportation management. The company runs a global network with facilities in over 170 countries and employs more than 51,000 people worldwide. CEVA was formerly known as TNT Logistics, a division of TNT which was founded in Australia in 1946. In 1999, a logistics division of the company was created. On 23 August 2006, TNT N.V. announced that it has signed a Sale and Purchase Agreement to sell its logistics division to Apollo Management L.P., a U.S. private equity firm. [ 2 ] The new name and logo were announced on 12 December 2006. On 2 August 2007, CEVA announced the completion of its merger with Houston (U.S.) based Eagle Global Logistics (EGL), which was rebranded to CEVA on 30 November 2007. [ 3 ] On 6 March, 2012 CEVA announced its Full Year 2011 Financial Results [ 4 ] with record revenue of €6.9 billion and strong EBITDA growth of 10% (13% at constant exchange rates). CEVA Logistics has reported record revenues and strong EBITDA growth for the year ended 31 December 2011. A robust performance was underpinned by the Company’s continuing drive to increase operational efficiency, add incremental business with key customers in target sectors and reduce costs. New wins of €1.8 billion exceeded the Company’s target. In early 2012, the Group also completed a transformational equity and debt funded financing, which eliminated over €850.0 million of debt, strengthened the balance sheet, and positioned CEVA well for future growth. On 8 May 2012, CEVA announced its results for the first Quarter 2012. [ 5 ] Revenue for the Group increased 2% to €1,712 million (2011: €1,686 million) in the quarter, driven mostly by strong performance in Contract Logistics and Ocean freight. Group Adjusted EBITDA at €66 million was 7% lower than a year ago (2011: €71 million) partly as a result of the soft Airfreight market and also reflecting difficult market conditions. A continuing focus on structural change programs and tight control of costs helped protect margins. The company continues to focus on building market position in the months ahead.