STEF : Stable turnover for Q4 and for the year 2016

As of December 31, 2016, sales of the Group for the year total € 2,824.5 M versus € 2,826.2 M for 2015.

The Group recorded a stable turnover at Q4 2016, despite being impacted by selective arbitrage by the Group on its portfolio of clients in out-of-home catering, which decreased sales carried for 3rd parties.
Excluding sales carried out for 3rd parties, sales increased by 1.7%

Transport France

The transport network returned to growth during the quarter, as it was not impacted by lower fuel prices and recorded a good end-of-year in its seafood business. The volume of hauled goods was stable compared to Q4 2015, despite the health crisis which affected the southwest region

Logistics France

Logistics France business was down by 0.9%, due to a lower filling rate of frozen warehouses, 2.5 point lower than during Q4 2015. On the other hand, OOH (out-of-home catering) business remained on a positive trend and recorded a 1.8% sales increase during the quarter.

International activities

International activities confirmed their growth driver status for the Group:

- Italy implemented its growth plan with Italian food manufacturers and recorded a near 10% sales increase.
- In Portugal, the consumption increase over 4% at year's end and the signing of a new contract with a European client from the dairy industry led to a 10.6% increase in business during the quarter.

Maritime

The decline in turnover resulted from a drop in freight business (-8.3%), due to:

- An outlier business level the previous year (Q4 2015 benefited from sales transfer resulting from social unrest at a co-delegation partner),
- From a technical stoppage affecting a vessel, the Girolata, in November.

Passenger activity was flat compared to the previous year.

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