CEVA Logistics
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| Type | Private company |
|---|---|
| Industry | Logistics |
| Founded | United Kingdom, August 9, 2006 |
| Headquarters | Hoofddorp, the Netherlands |
| Key people | John Pattullo, CEO; Bruno Sidler, COO; Rubin McDougal, CFO; Matt Ryan, President Americas; Didier Chenneveau, President Asia Pacific; Leigh Pomlett, President Northern Europe; Gianfranco Sgro, President Southern Europe, Middle East and Africa |
| Revenue | €6.8 billion (2010)[1] |
| Operating income | €- million |
| Net income | (€-) million |
| Employees | over 49,000 (2010) |
| Parent | Apollo Management |
| Divisions | Contract Logistics and Freight Management |
| Website | www.cevalogistics.com |
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 49,000 people worldwide.
[edit] History
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 8 November, 2011, CEVA announced its Quarter Three 2011 Financial Results, with Contract Logistics boosting Q3 performance. [4] Highlights from the Quarter were: Revenue of €1.76 billion and EBITDA of €86 million, up year-on-year by 1.2% and 5.8% respectively, at constant exchange rates, reflecting continuing good performance in Contract Logistics, partly offset by lower rates and volumes in Freight Management; Year to date EBITDA increased to €238 million, up year-on-year by 17.2% and 21.9% at actual and constant exchange rates respectively; Continued focus on cash management drives year-on-year reduction in net working capital by €34 million.
[edit] References
- ^ CEVA Group plc, Results for the Full Year and Fourth Quarter to 31 December 2010 (7 March 2011).
- ^ "TNT Sure we can | Welcome to TNT's corporate website, offering company news and information for investors, press, and other stakeholders". Group.tnt.com. 2008-09-20. http://group.tnt.com/pressreleases/pressfinancial/tnt/20060823_tnt_reaches_agreement_to_sell_its_logistics_division_to_apollo_management_lp.asp. Retrieved 2010-07-19.
- ^ CEVA Announces Completion of Merger with EGL (2 August 2007).
- ^ Contract Logistics boosts Q3 results at CEVA
