View the full Q3 2008 report.
HOOFDDORP, Netherlands, November 4, 2008 - CEVA Group Plc today announced its results for the third quarter of 2008. With total revenue of € 1.7 billion for the quarter, both the Contract Logistics and the Freight Management operations show good growth. At 2007 exchange rates, revenue grew by 10% over the same quarter of the previous year on a proforma basis1.
Table: Key Financials Q3 2008 (actual exchange rates)
| Three months ended 30 September |
2008 |
2007 |
Growth |
| Revenue |
€ 1,666 million |
€ 1,334 million |
25% |
| EBITDA before specific items |
€ 102 million |
€ 93 million |
10% |
EBITDA excludes the impact of specific items which are significant non-recurring items such as restructuring and integration costs, rebranding and separation costs, costs related to the acquisition of EGL and certain legal expenses.
Table: Pro-forma Key Financials Q3 2008 (at 2007 constant exchange rates)
| Three months ended 30 September |
2008 |
2007 |
Growth |
| Revenue |
€ 1,751 million |
€ 1,598 million |
10% |
| EBITDA before specific items |
€ 109 million |
€ 108 million |
1% |
Commenting on the results, CEVA CEO John Pattullo said:
"Although we are facing increasingly tough market conditions, CEVA is in a solid position to maintain momentum: we have clear strategy, good focus on costs & cash and innovative solutions which are driving above market revenue growth"
1 assuming the acquisition of EGL was effective from 1 January 2007