STEF-TFE reports turnover up 9%

Paris, France: STEF-TFE has reported turnover up 9.4% to €1,077.6m and operating income up 26.8% at €29.1m for the first six months of 2011.

Despite a slowdown in food consumption growth in Europe, turnover was up and operating income markedly higher thanks to higher sales in every division of the Group.

STEF-TFE, which turned over €2.057bn in 2010, is a European provider of temperature-controlled logistics primarily for temperature-sensitive food products at -25 °C to +18 °C for food manufacturers, retailers, catering and restaurant chains, wholesalers and pharmaceutical companies.

Higher results for the first six months of the year “testify to the resilience of STEF-TFE’s business model in an uncertain environment,” the company says.

Transport activities, land and maritime, which in 2010 bore the brunt of the economic slowdown, rebounded more than other businesses as the economy improved at the beginning of 2011.

The group is now reaping results from action plans set in 2009 and 2010 to optimise the transport network in France: volumes were up 2.3% during the first half of the year and quality of service improved, it says.

On the logistics side, new contracts and increased fill levels for frozen food did not lead to an improved operational margin as various costs also increased, particularly for electricity.

Business in Europe outside France is also growing in all markets, but suffers from adverse economic and financial trends which impacts consumption. The increased presence of the group in Europe, due to external growth and investments in logistics, should start to bear fruit before the end of 2011 the company says.

“The group has for the past two years reorganised and restructured its activities. This rationalisation effort along with a reinvigorated commercial approach and a rational external growth strategy should balance the negative impact of an uncertain economic environment during the second half of the year,” the company said is a statement.

WORLD NEWS

Daimler Trucks goes electric

Stuttgart, Germany: Daimler Trucks plans a range of electric trucks for urban distribution and long-haul transport and has launched a concept vehicle to demonstrate the …

READ THE FULL STORY >

Krone boosts telematics services

Werlte, Germany: Trailer maker Krone and Shippeo, which makes automated tracking systems, have partnered to provide real-time estimated time of arrival (ETA) for Krone’s trailer …

READ THE FULL STORY >

European Cold Chain Conference set for Rotterdam in November

Rotterdam, Netherlands: The 23rd GCCA European Cold Chain Conference is scheduled for 23 – 25 November 2020 at the Hilton Rotterdam. The conference for temperature controlled professionals will see …

READ THE FULL STORY >

Polish pharma firm opens new warehouse

Głogów. Poland: Polish pharmaceutical company Arra Group has opened a new temperature-controlled warehouse in Poland near Poznań. The company says the warehouse is in a …

READ THE FULL STORY >

WHAT’S ON

  • Cold Chain Insight
    Cold Chain Insight into Energy, 16-20 November – the first of the new virtual insight series

Latest Tweets

This year's Cold Chain Leaders report (formerly Top 25) shows that @Culina_Group took the number one slot. Read what the chief execs say about 2020 plus tables on turnover, fleet size etc: bit.ly/3mYi3GF #logistics #SupplyChain #Coldchain pic.twitter.com/m4SMVG8DNp

© 2020 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ