Stef turnover recovers to pre-pandemic levels

Paris, France: Stef reports its second quarter turnover up 19.3% to €848.8m on like-for-like sales.

Group turnover totalled €1,636.8 million for the first six months of the year, up 7.5% like-for-
like.

This is a return to pre-Covid turnover trends but the recovery has taken hold to differing degrees in the various business activities.

In France, Stef’s foodservice and seafood business is still affected by the health crisis. Both activities’ improved markedly since mid-May, when the health restrictions were lifted on the foodservice sector, Stef said.

Logistics for retail remained buoyant despite a slight slowdown in comparison with the exceptional volumes achieved in 2020 at the height of the health crisis.

The high warehouse fill rate continued in frozen goods. The chilled products in networks benefited directly from the lifting of health constraints at the end of the quarter.

The temperate, dry and ambient business showed good momentum, boosted by the expansion of the Orléans site, Stef said in a statement.

Stanislas Lemor, chairman, Stef, said: “The group posted solid turnover growth in the second quarter of 2021 but did not reach the same level seen during the same period in 2019. While the results remain mixed, the Group returned to growth once the health restrictions on foodservice were lifted in Europe.

“In addition, Stef presented its 2030 climate initiative during the quarter, which focuses on the development of sustainable mobility and responsible cold production. The initiative sets out three main goals for the company: reducing its vehicles’ greenhouse gas emissions by 30% by 2030; reaching 100% low-carbon energy consumption in its buildings by 2025; and incorporating its subcontractors into its environmental commitments.”

At the end of June 2021, the half-year turnover was higher than 2020 (€1,636.8 million, up 9.8%)
but lower than 2019 (€1,665.9 million, down 1.7%).

www.stef.com

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