on STEF (EPA:STF)
STEF announces its 2024 half-year results
On September 5, 2024, the Board of Directors of the STEF Group published its results for the first half of 2024. Revenue reached €2,325.2 million, showing growth of 6.7% compared to 2023. However, operating income is slightly down to €106.6 million, a decrease of 5.8%.
According to Stanislas Lemor, CEO of the Group, this half-year was marked by sluggish food consumption in Europe and high volatility in activities. The group's net profit fell to 68 million euros, impacted by high interest rates.
Despite this context, the company continued to invest to consolidate its market position. Net debt increased to €1.3 billion. The profitability of the transport business in France and frozen warehouses suffered a decline, while STEF International benefited from positive momentum, especially in Italy, Spain and Portugal.
R. H.
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