February 21, 2013

Ceva's 2012 consolidated sales up 14%

For the first time, Ceva Group's consolidated sales in 2012 reached EUR607.3 million (US$782 million), up by 14% on 2011 and 10% at a constant perimeter and exchange rates.

Growth was driven through further concentration on key products and helped by the company's early decision to enter emerging markets. The growth was almost entirely organic reflecting the strength of Ceva's innovative and broad-based portfolio of products.

The biology business continued to grow, up by an impressive 29% in a market that also grew by an estimated 10%.  Following the major success of its innovative, Gumboro vaccine –Transmune? IBD, the company launched Vectormune? ND. The two products can be administered as a single dose in the hatchery giving life-long protection against three major poultry diseases Newcastle, Gumboro and Marek's disease, a major step forwards for poultry production.

Ceva's drive into emerging markets was rewarded with exceptional results posted in Russia (+26%), Turkey (+17%), Mexico (+18%), with the majority of countries in Asia also recording double digit figures. The group continued to invest significantly in its industrial base, total spending was close to EUR30 million (US$40 million) (+30%) to support the addition of new products and incorporate the latest technologies.

R&D spending was once again equivalent to more than 9% of sales. The company also acquired the IP rights to a number of novel technologies and advanced manufacturing techniques that will continue to build innovative products for the future.

Ceva Chairman & CEO Marc Prikazsky said, "2012 demonstrated how dynamic our innovative business model is. In a challenging global economic climate, our teams were able to continue to deliver some exceptional results.  More than ever, there is no 'one fit's all' solution. As we enter 2013, we will have to fight hard to maintain our position in markets affected by economic downturn, whilst continuing to drive hard into emerging markets where the growth opportunities are still significant."