Stef : L'Essentiel 2020/2021 en anglais

HIGHLIGHTS2020/2021

STEF, ESSENTIAL JOBS P.11

INNOVATING

FOR CUSTOMERS

AND TEAMS P.18

COMMITTED TO

PEOPLE P.26

BUILDING AN EVEN MORE

ETHICAL SUPPLY CHAIN P.34

CONTENTS

Interview with the Chairman	P. 02
& Chief Executive Officer
Presentation of the Group	P. 06
Our purpose	P. 08

LOOKING BACK
ON 2020	P.10

Our teams talk about their year

OVERVIEW	P.16
Innovating for customers	P. 18
and teams
Committed to people	P. 26
Building an even more	P. 34
ethical supply chain
La Méridionale	P. 42
Thinking the future!	P. 43

EDITORIAL

OBVIOUSLY, 2020 WAS A YEAR UNLIKE ANY OTHER. IT WAS OUTSTANDING FOR THE STEF GROUP, IT HIGHLIGHTED THE MEANING OF OUR JOBS, CONFIRMED OUR INTUITIONS AND STRENGTHENED OUR CONVICTIONS. IT VALIDATED OUR PURPOSE.

THIS IS REFLECTED IN THIS NEW LOOK HIGHLIGHTS; LIKE

A YEARBOOK, IT LOOKS BACK ON 2020 AS WE EXPERIENCED IT, ITS DIFFICULTIES BUT ALSO ITS SATISFACTIONS AND SOMETIMES ITS SUCCESSES... AND IT LAUNCHES US INTO 2021. HAPPY READING EVERYONE!

02	INTERVIEW

03

CONTINUING

TO INVEST TO BUILD

THE FUTURE!

Stanislas Lemor, Chairman & Chief Executive Officer of the STEF Group

2020 was an unusual year in many respects. What did you take away from it?

Firstly, the exceptional way in which all our employees came together to carry out the Group's primary mission during the health crisis. Thanks to their unfailing commitment, supplies were maintained to populations throughout Europe, without any disruption in the logistics chain. This is a source of great pride for us all. I would like to pay a heartfelt tribute to

the Group's employees for their ability to adapt, their professionalism and their commitment which has enabled us to deal with an unprecedented crisis. In addition to that, some of our jobs that were unfamiliar to and often overlooked by the general public have become more visible due to the crisis, revealing how essential they are. Our drivers were applauded when they delivered during the first periods of lockdown in March 2020.

The Group's mission, to guarantee that all European consumers can access a range of safe and enjoyable food, has become clearer than ever.

And economically?

2020 was a mixed year with the first six months severely affected by the strict lockdown periods across Europe and their consequences on the deregulation of the flow of goods. The Group quickly adapted by setting up a cost adjustment programme and altering transport schemes, leading to a clear recovery in results in the second half-year. Throughout the year, STEF's results were negatively affected by the health crisis; turnover fell by 8.6% and operating profit was down 28.2%. However, the Group has been resilient due to its solid foundations and its ability to adapt. In order to deal with the crisis, as a socially responsible corporate citizen, we have had to make bold choices; we paid a solidarity bonus to our field staff and have not applied for any State-guaranteed loans or deferral of charges. We also continued to invest to prepare for the future, despite the difficult times that

we were experiencing.

…