Stef 2018 sales up 9.4%

Paris, France: Stef reports its sales 2018 at €3,255.1m, up 9.4% on the previous year.

During the period, the current operating margin remained stable at 4.7% of turnover (excluding trading). The group increased its equity from €628 million to €695m and doubled its investments to €350m in 2018, compared with €180m the previous year, while reducing the cost of its debt.

Jean-Pierre Sancier, chief executive, Stef, said: “2018 was a good year in terms of turnover but a more mixed year in terms of operating income. With moderate growth expected for 2019, the group has decided to focus on improving its service quality, speeding up its specialisation strategy, and continuing to strengthen its transport network in Europe”.

The group entered the frozen food market in Italy. It dominates the French seafood market its performance was affected by year-end traffic problems associated with the disrupted social climate in France and by the positions still to be consolidated in the Netherlands, in Switzerland, and in out-of-home catering in France.

The Transport France activities enjoyed an exceptional year driven by steady growth. Out-of-home catering structuring efforts and the significant increase in energy costs weighed on Logistics France’s performance. International operations had a year of strong structuring with major investments to reinforce the Transport network in Europe and to structure the activities in German-speaking Switzerland. Maritime activities saw a slight increase in passenger traffic with stable freight.

During the period, the current operating margin remained stable at 4.7% of turnover (excluding trading). The group increased its equity from €628 million to €695m and doubled its investments to €350m in 2018, compared with €180m the previous year, while reducing the cost of its debt.

Stanislas Lemor will be appointed chairman and chief executive and Marc Vettard will be appointed deputy chief executive Officer in charge of operations.

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