˜This simply isn™t good enough™ says CEVA CEO

Ceva saw EBITDA fall 21.8 per cent to ‚¬251m for 2012 despite a rise in sales of 4.8 per cent to ‚¬7.2 billion. The group reported record new business wins of ‚¬19 bn “ ahead of target for second consecutive year. Chief executive officer Marvin O Schlanger said: These are difficult times for everyone in the global logistics industry and Ceva has not been immune to those pressures. While our revenue line has been resilient, we have seen a marked deterioration in EBITDA in both our FM and CL businesses. This simply isn’t good enough and we have taken action to reverse this decline in profitability. We will continue to take actions necessary to establish satisfactory levels of profitability.

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