STEF, a specialist in temperature-controlled transport and logistics for food products, announces 2022 turnover of €4,264.2 million, up +21.6% (+14.2% at constant scope), including €1,136.7 million for the 4th quarter which is up by 19.7% (+12.6% like-for-like).
The slowdown in food consumption continues in Europe and causes a slight erosion of merchandise volumes in the 4th quarter.
France STEF
The fresh segment recorded good overall momentum, despite the decline in tonnages that began in mid-2022 and was confirmed in the 4e quarter.
Supermarkets activities are impacted by the inflationary context which is affecting household consumption and slowing the growth of e-commerce.
The frozen business continues to evolve in a context of high electricity prices, even if we note a significant drop at the end of the year.
The temperate dry food segment posted good growth driven by the positive effects of the start of a new contract in June 2022.
Finally, the out-of-home catering sector is doing very well because it is benefiting from the vitality of the chain catering market, combined with the signing of new commercial contracts.
STEF-International
In the United Kingdom, the activities of Langdons, acquired on December 31, 2021, contributed €51 million in revenue for the quarter.
Switzerland posted significant revenue growth thanks to the first contributions from FrigoSuisse, acquired on June 29, 2022.
Spain and Portugal are benefiting from excellent commercial momentum.
On the other hand, Italy is particularly affected by the drop in food consumption. The finalization of the acquisition of the SVAT group in December 2022 strengthens STEF’s positioning on the frozen products market.
Maritime
Turnover continues to grow after two difficult years.
As part of the allocation of the new maritime public service delegation between Corsica and the continent, which extends from 1er January 2023 to December 31, 2029, La Méridionale will now operate on two lines: Marseille-Ajaccio and Marseille-Porto-Vecchio.
In addition, the company has appointed a new Managing Director whose mission is to build a new strategic plan, in particular for the international lines which remain below forecasts.
Conclusion
The evolution of the Group’s turnover in 2022 allows it to approach the coming year calmly and strengthens its ability to carry out its new strategic plan 2022-2026 “Committed to a sustainable future”.
Next release
2022 annual results: March 9, 2023, after market close
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