COMMUNIQUE 4T 2005


August 27, 2015

The European expert for temperature controlled logistics Above market growth Upbeat 1sthalf2015 earnings

On August 27, under the chairmanship of Francis Lemor, the Board of Directors approved the financial statement for the first half of 2015.
During the first half of the year,STEF benefited from a slight jump in food consumption in Europe and from the successful transformation of its operations in France following the integration of Ebrex. This positive environment comforted the strong momentum of its European activities (+9%), linked to the strong performance recorded in Southern Europe and the success of its new operation in the Netherlands.

Half-year results (in M€)

30/06/2015

30/06/2014*

Change

Consolidated turnover

1 360.7

1 331.4

+ 2.2 %

Operational income

27.1

22.6

+ 20.1 %

Income before tax

19.7

15.4

+ 28.2 %

Net income, Group share

15.5

10.6

+ 45.8 %

*Data published dated June 30, 2014 have been restated to take into account the impact of the retrospective

application of the IFRIC21 interpretation

STEF registers a strong increase in mid-year income, in the absence of extraordinary income (minus
0.9 M€ in 2015versus +7.8 M€ in 2015). This is the sign of the revenue strength registered by all
businesses and the restored performance of the Transport network in France.
• The operating margin was 2.3% of turnover, versus 2.0% during the first half of 2014.
• Investments remained strong at 68 M€: acquisition of property in Switzerland and in Italy and of a refrigerated warehouse in Mairano near Milan, extensions in Portugal (Porto) and in France (Athis- Mons, Niort, Mions).
• The Group continues its strategy of consolidating its positions in France. During the first half,the Group took control of GEFA company, owner of a deep-freeze warehouse (75,000 m3) in Clermont-Ferrand, acquired the company EntrepôtsFrigorifiques Berry Périgord, owner of a deep- freeze warehouse (36,000 m3) in Dordogne and increased to 49% its stake in the Primever national transport network for fruits and vegetables.

Outlook

In the second half, STEF will focus on confirming the resilience of its operations in France and the development of its domestic operations in Europe. In addition, the Group will, on September 2nd, present an offer to take over the operations of SNCM. This offer brings together European players well- known in the road and maritime transport sector. Together, they have the financial strength and the
operational expertise to secure and develop operations towards Corsica and the Maghreb.

The interim financial statements have been subject to a limited review by the Statutory Auditors and will be published on the website of the

Company.

Press contact : Catherine MARIE - catherine.marie@stef.com
Website: www.stef.com

Code ISIN : FR0000064271 - Code REUTERS : STE.PA - Code BLOOMBERG : STF.FP

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