Stef : Consolidated sales for Q4 2017

The Group ended 2017 with a growth in all its activities, as turnover was up in the fourth quarter by 6.2% (5.7% like-for-like).

Excluding sales carried out for third parties (clients in out-of-home catering operating in France, Spain and Belgium), turnover is up by 5.3%.

Scope changes in International Operations relate to BADOSA company in Spain, acquired in June 2017, which added a turnover of €3.2M during the quarter.

Transport France

Despite a negative calendar effect in December (20 billable days compared with 22 in December 2016), the transport network has posted an increase in activity over the fourth quarter as a whole: + 3.6%, and +1.7% excluding the fuel surcharge. The growth driver is the development of Mid-Market clients, while volumes are stable for key account clients.

Logistics France

The turnover of Logistics France increased by 3.5% in the fourth quarter, underpinned by chilled and temperate dry food logistics whose increased due to the two new sites started up in 2017, and also by continuing growth in the Out-of-home Catering activity.

International Operations

International Operations turnover is growing strongly at +8.2% (+6.3% like-for-like), thanks to the Group's two main countries:

- In Spain, turnover has increased by 16.2% (+8.8% like-for-like). The setting up of synergies with BADOSA company is expanding market share for the domestic network, and the ramp-up of a new collective catering contract is continuing.

- Italy, with turnover up by 7.3%, is consolidating its growth with Mid-Market clients, and is expanding its seafood transport activity, thanks to the acquisition of a business during the first half.

Maritime

The Maritime activity posted growth of 18.9% during the quarter, reflecting the substantial increase in outbound freight at the port of Marseille.

As at 31 December 2017, the group's total turnover amounts to €2,975.7M, compared with €2,824.5M at the end of 2016, an increase of 5.4% (5% like-for-like).

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