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Stef earnings up on stable turnover

Paris, France: Stef reported turnover of €2,824.5m for 2016, down 0.1% on the previous year.

Operating income increased 12% to €123.3m from €110.1m.

Jean-Pierre Sancier, chief executive, Stef said: “Stef had a robust year, thanks to the contribution of Transport and Logistics France activities, but also to the growing contribution of International operations in terms of turnover and profitability. The Maritime business unit had a satisfactory year.”

“In 2016, the Group strengthened its presence in Europe with two strategic partnerships in Germany and Switzerland, the enlargement of its network in the Netherlands and the integration of a client’s logistics operations branch in Italy”.

In a statement, Stef said the year was marked by a good performance of Transport France activities, in spite of the sanitary crisis which hit the foie gras sector. The upturn in the Logistics France operations, due to strong fill rates in frozen logistics during the first semester and the improvement of the out-of-home catering business thanks to arbitrages carried out on the customer portfolio.

Stef also cited strong growth of its international operations where profitability is now on par with operations in France.

Other highlights are partnerships agreed with Nordfrost in Germany and Emmi in Switzerland, the deployment of the Stef network in the Netherlands with the acquisition of Vers-Express and a stake inNetko, and in Italy, with the integration of 4 sites dedicated to thermo-sensitive food previously belonging to a major European manufacturer.