STEF Publishes Q3 Turnover

STEF, a specialist in temperature-controlled transport and logistics for food products, is announcing turnover of EUR1.11bn for the third quarter of 2022.

The latest acquisitions – Langdons in the United Kingdom, Groupe TTC in Spain, Frigosuisse – contributed to the resilience in turnover at international level and marked an important stage in the Group’s international development (36% of turnover generated outside France). All the countries posted strong turnover trends. This was particularly true of Spain, which had an excellent summer season, and Switzerland, thanks to the start of a major contract.

For STEF France, the third quarter was marked by positive business momentum in most regions, reflected in the start of several new contracts. However, the business activity of our existing customers showed signs of slowing down at the end of the period. The out-of-home foodservices sector continues to be driven by robust momentum in the fast-food industry. The retail and frozen food sectors remain somewhat sluggish.

Regarding maritime activity, turnover for the Tangier line came out at EUR8.8m, up 2% from 2021 (+5% in the number of crossings) but remained below forecasts in terms of freight and passengers. Turnover for Corsica was driven by brisk passenger business, the number of passengers carried rising 11% over the period.