The Board of Directors of the STEF Group, European leader in temperature-controlled transport and logistics services for food products, met on March 10 and approved the accounts for the 2021 financial year.
Stanislas Lemor, Chairman and CEO of STEF said: “In 2021, the Group improved its economic performance in all its countries and all its activities, thus returning to 2019 levels. The results attest to the solidity of STEF’s fundamentals, both operational and financial, and its ability to invest for the future. The year was marked by external growth operations, the Group having taken an important step in its development with the acquisition of Langdons in the United Kingdom. Finally, on the strength of the mobilization of its teams and the collaboration with its stakeholders, STEF has concretized its climate commitments within its new Moving Green roadmap focused on sustainable mobility and more virtuous cold production”.
Information by geographical area and by activity
France STEF
- France returned to a performance close to that of 2019, even though it was faced with great volatility in the volumes handled and a scarcity of labour.
- The fresh segment experienced a strong rebound with sales up +8%, under the combined effects of the economic recovery, market share gains and the good commercial momentum of our customers.
- Frozen food posted a 5% increase in turnover, but its profitability was impacted by soaring electricity prices.
- Retail turnover was comparable to that of 2020. Its performance was also affected by the increase in the cost of energy. E-commerce activities now represent 25% of this activity’s turnover.
- Despite the successive episodes of confinement and curfew, the out-of-home catering and seafood products business has regained operating balance.
STEF-International
- Internationally, all the countries experienced a strong investment and development dynamic. It is a profitable growth driver for the Group.
- In Italy, the good momentum of the frozen activities contributed to the improvement in performance. The integration of the international flow activities acquired at the start of 2021 continues.
- Activities in Spain recorded good progress with the signing of new commercial contracts.
- In Portugal, STEF increased its organization with the opening of a strategic site in Lisbon.
- In Belgium and the Netherlands, the Group has strengthened its position thanks to the new international flow activities recently acquired.
- The good commercial development in Switzerland made it possible to make better use of the means of production and thus to significantly improve the operating result.
Maritime
- The diversification of La Méridionale with the opening of a line to Morocco has led to strong growth in turnover. But the various travel restrictions relating to the health crisis (closure for 5 months of passenger traffic in Tangier) have again heavily penalized its results.
- From an environmental point of view, La Méridionale is fully integrated into the Group’s “Moving Green” approach in terms of reducing the impact of its activities, in particular with its particle filter system.
Outlook 2022
In a geopolitical context with uncertain consequences, the Group remains vigilant for the coming year. This will be devoted to integrating its new activities in the United Kingdom and preserving its operating profitability in an inflationary environment. The Group will pay particular attention to strengthening the attractiveness of its businesses and building loyalty among its teams. STEF will also continue its investments in energy transition.
The Board of Directors has decided to propose to the vote of the General Meeting of April 28, 2022 the payment of a dividend of €3 per share, representing an amount of €37 million.
Attentive to the balanced distribution of the value created, the Group will also pay €42 million this year to its employees in respect of profit-sharing and profit-sharing, as well as the matching contribution provided for under the savings plan. international company.
STEF press release.
