CEVA Holdings recorded a 0.5-percent year-on-year decrease in revenue for 2015 in constant currency but an adjusted EBITDA growth of 22.2%, according to full-year results released by the company.

Xavier Urbain, CEO of CEVA, said that the year-end performance was the latest in a series of strong quarters.

“We see that the execution of our new strategy, launched in 2015, is delivering tangible results despite the volatile year-end economic environment and short peak season,” said Urbain. “Of our 17 geographical clusters, 15 performed at or above expectations in 2015, which shows that our operating model is working. We also see a number of opportunities to further improve our EBITDA in 2016 driven by continued investments in our field sales teams and operations.”

In CEVA’s Freight Management division, air freight volumes increased marginally for the year and outperformed the market in the fourth quarter because of new business wins on Europe-China trade lanes, but ocean volumes underperformed compared to the market, according to the company.