HOOFDDORP, The Netherlands, November 29 CEVA Group Plcreleased its Quarter 3, 2007 Interim Financial Statements today. Thesestatements include the following highlights:
- First presentation of results following the EGL acquisition on 2 August2007
- EBITDA increased to EUR86.9 million from EUR(4.3) million in Q3 2006
- Adjusted EBITDA improved to EUR93.1million from EUR57.5 million in Q32006
*Adjustments in 2007 relate mainly to EGL merger costs and ContractLogistics rebranding and separation costs.
** The results presented include three months Contract Logistics and twomonths EGL.
Our Contract Logistics and Freight Management business on a stand-alonebasis delivered the following results:
* Adjustments primarily relate to costs incurred following the separationfrom previous parent.
* Adjustments primarily relate to advisor fees and pre-acquisition dealcosts incurred by EGL prior to 2 August 2007.
CEO John Pattullo commented: "It is exciting to show the financialperformance of the full CEVA Group Plc for the first time. The fact that weare one of the major players in the global supply chain is now reflected inour results. We are in the process of establishing a unified approach to themarket and can now focus on delivering value to all stakeholders. I am verypleased to see that the integration process has not distracted attention andthat despite making significant changes in the company we have continued tomove forward strongly. Revenue is showing momentum, our profitabilitycontinues to improve and our focus on cash is strong."
CEVA. Making Business Flow
CEVA Logistics supply chain management is recognised by its customers formaking their business flow through our commitment to their success. CEVAfocuses on a diverse range of market sectors including automotive & tyres,technology, industrial, retail & consumer goods, health care, publishing,aerospace and oil & gas. We offer our customers increased efficiency andreduced transit times, thanks to our ongoing focus on operations excellenceand the visibility and control that we create in supply chains. As a leadingglobal logistics company, we provide end-to-end design, implementation andoperation of logistics solutions in contract logistics, freight forwarding,distribution management and transportation management for large andmedium-sized national and multinational companies.
CEVA combines the heritage of two great companies, TNT Logistics and EGL,which merged in August 2007. We employ more than 50,000 people and operate anextensive global network with facilities in over 100 countries worldwide. Weoperate 614 warehouses around the globe summing a combined space ofapproximately 8, 6 million square meters. For fiscal year 2006, CEVA reportedcombined pro forma sales of EUR 6 billion. CEVA is an Apollo portfoliocompany. Apollo is one of the leading private equity investors in the world.CEVA's CEO is John Pattullo. For more information http://www.cevalogistics.com
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACTof 1995:
The statements included in this news release, and other statements thatare not historical facts, may contain forward-looking statements. In additionto the assumptions specifically mentioned in the above paragraphs, there area number of other factors that could cause actual results and developments todiffer materially from those expressed or implied by these forward-lookingstatements. These factors include, but are not limited to, the process ofcombining EGL and CEVA, the actual effects of recent and future regulatorychanges and technological developments, globalization, levels of spending inmajor economies, the economic climate in Asia and the US, levels of marketingand promotional expenditure, actions of competitors and joint venturepartners, employee costs, future