April 8, 2019 / 5:34 AM / 6 months ago

BRIEF-CEVA EBITDA At $23 Mln In First Two Months Of 2019

April 8 (Reuters) - CEVA LOGISTICS:

* SAID ON FRIDAY REVENUE UP BY 2.8% IN CONSTANT CURRENCY TO $1.11 BILLION IN FIRST TWO MONTHS OF 2019 (SAME PERIOD IN 2018: $1.15 BILLION)

* GROUP’S EBITDA AT $23 MILLION IN FIRST TWO MONTHS OF 2019 (SAME PERIOD OF 2018: $26 MILLION)

* 2021 REVENUE TARGET ABOVE $9 BILLION

* 2021 MANAGEMENT EXPECTATIONS ON ADJ. EBITDA RAISED FROM $380 MILLION TO $470-490 MILLION PRE-IFRS 16 IMPLEMENTATION

* EXPECTS THAT 2019 WILL SEE PROGRESS IN LINE WITH 2021 OBJECTIVES, INCLUDING IMPROVEMENT IN EBITDA MARGIN AND IN FREE CASH FLOW

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Further company coverage: (Gdynia Newsroom)

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