The owners of freight forwarder CEVA are reportedly making another attempt to list the company’s stock at a valuation of around $1.5 billion. The plan comes as the forwarder’s sales have been improving, with a 6% rise in the third quarter. That was partly the result of new multi-modal service offerings in Asia. Yet, that growth rate was slower than the forwarder sector has seen on a quarterly and annual basis. Profitability has also improved, reaching an EBITDA margin of 4.8% in 3Q 2017, the best since at least 1Q 2013. The 12 month average of 3.9% lagged the forwarder sector’s 10.9%,...
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