ifwla - Warehousing and Logistics International

18 Financial Reportsyear-on-year. CEVA’s EBITDA margin increased yearon-yearfrom 4.7% to 4.9%. This was driven particularlyby improvements in leveraging the Company’s FreightManagement network and in improving CL contracts.With external markets remaining volatile, however,CEVA expects the uncertainty of the last few months tocontinue.High price of diesel impacts Contractlogistics earnings at LogwinIn spite of the slowdown in economic momentum, theLogwin Group generated sales of euro1,009.2 millionin the first nine months of the year, maintaining thesame level as the previous year. Operating income(EBIT) increased by 23.7% to euro23.8 million. TheCompany’s Solutions business segment generated salesof euro542.7 million in the first nine months of 2011,exceeding the previous year’s figure by 5.5%. A majorcontribution was made by the special networks operatingunder Transport and Retail Networks, as well asGeneral Cargo activities. The latter benefited in particularfrom continued growth in the automotive sector.Contract logistics activities showed satisfactory developmentprimarily due to the well-filled order books of customersin industry-related fields. However, continuinghigh capacity-related freight rates and the continuinghigh price of diesel had a negative effect on earnings.Operating income (EBIT)amounted to euro7.7 million,which was slightly below the figurefor the previous year (2010:euro8.1 million). The figure forthe comparative period in 2010,however, still included proceedsfrom the sale of fringe activitiesin the amount of euro0.7 million.The 9M operating marginfell to 1.4%, from 1.6% in thesame period of 2010.ABOVE: NorbertDentressangle’soperating margincontinues toimprove, with astrong like-for-likeperformance.Wincanton’s transformation beginsWincanton has announced its results for the sixmonths to 30 September 2011. Revenue at itscontinuing operations was £625.4 million, down 8.1%against last year. Underlying operating profit at thecontinuing operations was £22.3 million, down 11.2%representing a decrease of £2.8 million compared withlast year. This resulted in overall margins of 3.6%, inline with the equivalent six months last year (2010:3.7%) and the 3.5% for the full year ended March2011. The total operating result for the period afterexceptionals and amortisation of acquired intangiblesof £5.0 million (2010: £5.5 million) was a loss of£66.5 million (2010: £20.6 million profit). After netIssue No. 3www.ifwla.com