Despite a sluggish domestic market due to low food consumption and inflation, Stef’s strategic expansion into global markets has proven to be a key factor in achieving this milestone.
Cumulative sales for 2023 stand in stark contrast to the previous year’s €4.2 billion, reflecting the success of the company’s external growth initiatives in various countries.
International business now accounts for a significant proportion of Stef’s total turnover, representing one-third of the total.
Portugal has emerged as a key player, contributing significantly to the increase in turnover. This success can be attributed to robust commercial momentum, particularly in the out-of-home sector, coupled with the start of lucrative new contracts, the company adds.
In the Netherlands, Stef strengthened its position by acquiring Bakker Logistiek, a transporter of fresh products. This move not only consolidated Stef’s presence in the Netherlands but also positioned the company as a major player in the Benelux region.
In Italy, Stef continued to benefit from the first year of integration with SVAT in a declining market, contributing a significant 20 million euros to turnover.
Meanwhile, Belgium experienced a positive upturn, benefiting from the acquisition of TransWest. This transport and logistics company, specialising in cold chain management, added an impressive 12 million euros to Stef’s turnover.
The same cannot be said for the UK, where the business continued to suffer from a difficult economic environment and lower consumption, the company adds.