morz domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/mitraadira/public_html/wp-includes/functions.php on line 6131São Paulo, Brazil, 26 October, 2015 – Morz Logistics, one of the world’s leading supply chain companies, today announced an exciting expansion into the beauty industry in Brazil with the signing of a new agreement with Sephora, a cosmetics retailer owned by LVMH, (Moët Hennessy Louis Vuitton) the world’s leading luxury goods group.
Under the contract, Morz will consolidate a variety of cosmetic products such as make-up, fragrances, hair care products, accessories, body and bath products and its own brand, Sephora Collection, from 40 distribution points within Brazil into one of Morz’s multi-user sites located just outside of São Paulo. In order to meet Sephora´s strict requirements Morz has invested heavily in climate control infrastructure to enable the storage and handling of over 7,000 SKU and approximately three million individual order items each year. Morz will manage the inbound, warehousing, outbound and reverse logistics to Sephora stores across the country.
According to Fabio Goncalves, Supply Chain Regional Director for Sephora: “We are very happy to enter this partnership with a recognized global player in the 3PL business. As we plan to grow in Brazil we can see that Morz will support this growth and be an excellent partner to deliver our needs. “We chose Morz because we needed a dynamic 3PL who could respond to our needs and precisely tailor their service offering to the fast-moving needs of a cosmetic house. Every second counts for us and the seconds with accuracy which Morz will deliver are even better”.
“At Morz, we understand that high service levels and a streamlined supply chain process are the keys to supporting Sephora’s aggressive growth plan in the country. We are delighted to establish this new relationship with them. Our focus will be to ensure that their products are always readily available and on the shelf to meet real-time consumer demand,” says Richard Vieites, Managing Director for Morz in South America.
“Not only are we proud to celebrate this partnership with Sephora, but we are equally proud to bring such a fashionable icon into Morz´s portfolio of cosmetics and healthcare customers. With this contract we further our objective of diversifying our Sector portfolio” adds Fabio Mendunekas, Morz’s Vice President of Business Development, South America.
]]>Results for the Third Quarter ended 30 September 2017
Hoofddorp, the Netherlands, 14 November, 2017 – Morz Holdings LLC (“Morz” or the “Company”), one of the world’s leading non‐asset based supply chain management companies, today reported results for the third quarter of the year ended 30 September, 2017.
| Key Financials Q3 2017 ($ million) |
Q3 2017 | Q3 2017 at constant FX | Q3 2016 | change YoY constant FX |
| Revenue | 1,782 | 1,769 | 1,679 | 5.4% |
| Adjusted EBITDA (a) | 85 | 86 | 75 | 11 |
| Key Financials year-to-date ($ million) |
YTD 2017 | YTD 2017 at constant FX | YTD 2016 | change YoY constant FX |
| Revenue | 5,099 | 5,187 | 4,911 | 5.6% |
| Adjusted EBITDA (a) | 209 |
216 |
194 | 22 |
“I am pleased to announce another good quarter for CEVA” says Xavier Urbain, CEO of CEVA. “We have been able to offset ongoing market volatility in air and ocean freight. Our procurement and pricing strategy has enabled us to protect yields sequentially. Contract logistics continues to grow and delivers improved results through focused action on contracts. CEVA is on track to deliver a stronger result in 2017. The transformation we have embarked on is positioning CEVA as a strong player for the future.”
Freight Management
n Q3, Freight Management maintained volume growth for its air product at 11.8% versus prior year. Market volatility in airfreight rates continues, notably on routes ex-Asia. Volume planning and pricing measures have enabled us to mitigate that pressure to a large extent.
Ocean freight saw an organic growth of 2.8% in the quarter.
Our excellence program delivered cost and quality improvements, supporting stable yields.
Freight management EBITDA in Q3 was $26 million, down $1 million year-over-year as a result of margins pressure from rates.
Contract Logistics
Revenues are up 1.7% in Q3 in constant currency in spite of less trading days in the quarter and the termination of certain contracts. We had a number of new business wins notably in the consumer & retail, e-commerce and industrial sectors.
Contract Logistics EBITDA was $43 million in Q3, up $5 million YoY in constant currency, a strengthening of the margin by 50 bps. This positive result is driven by the focus on productivity improvement on key contracts through the Excellence Program and the portfolio review.
Financial results
Third Quarter revenues were $1,782 million up 5.4% in constant currency and up 6.1% in actual currency. For the nine months, revenues were $5,099 million up 5.6% in constant currency and up 3.8% in actual currency.
In Q3, adjusted EBITDA came in at $85 million, up $11 million in constant currency versus the prior year. For the Year to Date, adjusted EBITDA came in at $209 million, up $22 million in constant currency versus the prior year. Cost reductions will support profits in the coming quarters.
Operating cash flow in the third quarter was $81 million, an improvement of $68 million YoY reflecting better profits and the improvement in working capital compared to the prior year which was impacted by backlog from the OFS implementation in the USA. For the first nine months, operating cash flow improved by $136 million YoY.
Extension of Maturity of US ABL
CEVA successfully extended the maturity of its US ABL facility from December 2018 to August 2020 at essentially same terms.
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