STEF, the European leader in temperature-controlled transport and logistics services for food products, generated turnover of EUR848.8m in the second quarter of 2021. The acquisition of Nagel-Group activities in Italy and Belgium, on December 31, 2020, contributed EUR16.6m to STEF International’s same-period turnover.
According to a company statement, foodservice and seafood remain mainly impacted by the health crisis. Both activities’ business has still improved markedly since mid-May, when the health restrictions were lifted on the foodservice sector. 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.
In Italy and Belgium, the integration of the activities acquired from Nagel-Group in early 2021 increased turnover significantly and improves the geographical coverage of STEF in these two countries. Spain picked up solid momentum on the back of sustained organic growth and increased transport business with a retail client. Portugal maintained its sales momentum, bolstered by its new site in Alenquer, near Lisbon, the statement reads. In Switzerland, the sales teams’ work continued to bear fruit. The Kölliken site in German-speaking Switzerland reached optimal capacity thanks to an influx in new clients.
“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,” Stanislas Lemor, STEF chairman and CEO said.