CEVA has released its financial statements for the third quarter ending September 30, 2019. The company’s revenues shrank by 3.4% to $1,748m for the three months ending September 2019 and by 3.4% to $5,262m for the nine-month period ending September 2019.
Revenues for CEVA’s Contract Logistics segment fell 4.8% to $884m. The EBITDA before specific items, for this segment, saw a drastic 262.5% rise to $29m from $8m.
CEVA’s other segment, Freight Management, saw revenues fall by 1.9% to $864m from $881m in Q3 2018. The EBITDA for this segment, however, saw a 40.9% fall to $13m from $22m.
Anji-CEVA revenues were reported at $318m for Q3 of 2019, down 5.4% year-on-year from $336m. The venture’s EBITDA also experienced a decline in the three months ended September 30, 2019, down 38.5% to $32m from $52m the year before.
Overall, CEVA saw its EBITDA increase by 733% to $125m from $15m the year before.
Source: CEVA
