STEF Surpasses 5 Billion Euro Revenue Mark a Year Ahead of Schedule
The cold chain logistics specialist posted annual revenue of €5,119 million in 2025, marking a 6.6% increase on a reported basis (+4.7% like-for-like), achieving its strategic objectives earlier than planned despite what it describes as a "mixed" environment.
In the fourth quarter of 2025, the group's revenue reached €1,347 million, up 7.1% on a reported basis and 5.4% like-for-like.
Breaking it down, business in France grew by 3.9% (both reported and like-for-like) to €643 million. The most significant growth came internationally, with revenue of €518 million, an increase of 9.7% (+5.2% like-for-like).
This momentum was largely fueled by external growth, particularly in Switzerland, where revenue doubled following the acquisition of Christian Cavegn AG, which contributed €20 million during the quarter. Conversely, the Netherlands experienced a "marked downturn" after the loss of a retail client over the summer.
Alongside these results, STEF announced a change in its governance structure. A new model will revolve around the Chairman and CEO and two Chief Operating Officers. This organization will take effect on April 23, 2026, when Marc Vettard, Deputy CEO, will retire.
The next financial publication, covering the full 2025 annual results, is scheduled for March 12, 2026, after market close.
Stef specializes in the transport and logistics of temperature-controlled products (from -25°C to +15°C). Net sales break down by activity as follows:
- transportation and logistics in France (49.9%): for industrial companies, large-scale distribution, and catered banquet facilities;
- transportation and logistics in international (37.5%): activities carried out in Italy, Spain, Portugal, Belgium, the Netherlands and Switzerland;
- other (12.6%).
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