Paris, France: Stef reports its turnover for 2021 up 11.5% to €3.5bn.
Profit before tax was up 34.9% to €147m.
During 2021 Stef entered the British market acquiring Langdon Group. It handles close to 2.7m pallets a year and turnedover £147m in 2020.
Stanislas Lemor, chairman, 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 operational and financial fundamentals and its ability to invest for the future.
“The year was marked by external growth operations, with the group having taken an important step in its development with the acquisition of Langdons in the United Kingdom.
“Finally, building on the mobilisation of its teams and the collaboration with its stakeholders, Stef has formalised its climate commitments in its new Moving Green roadmap focused on sustainable mobility and more virtuous cold production.”
The rising price of electricity in the second half of the year adversely affected performance the company said.
The breakdown by region and business line shows Stef France performing close to that of 2019, but with great volatility in the volumes handled and a scarcity of labour.
The chilled products segment saw turnover up by 8%. The frozen products segment posted a 5% increase in turnover, but its profitability was affected by by the surge in electricity prices.
Retail turnover was comparable to 2020 but performance was also affected by the rising cost of energy. E-commerce activities now represent 25% of this activity’s turnover.
Despite the successive episodes of lockdown and curfew, the out-of-home catering and seafood products business has regained an operating balance, Stef said
