Christian Cavegn AG company in Switzerland, acquired on 30 September 2025, generated sales of €19.4m in Q2 2026, thereby contributing 14% to the Group’s revenue growth over the quarter.
Breakdown by region and business line
STEF France
The Chilled Products business lines are maintaining their volumes, supported by increased flows from existing customers as well as contribution from new customers. As for the Retail business lines, they posted a slight decline in revenue, due to the closure of the Aulnay-sous-Bois site amid the ongoing transformation of the retail sector.
In addition, the Frozen Foods business lines continue to perform well, with an improvement in the fill rate.
The Foodservice and Fresh Supply Chain businesses lines are experiencing sustained growth, driven by the expansion of new customers.
This positive trend is also confirmed for the Ambient and temperature-controlled business lines, which are recording a significant increase in revenue, directly linked to the operational launch of a new 36,000-square-metre site in the Centre-Val de Loire region.
STEF International
In Belgium and the Netherlands, business continues to be affected by consolidation in the retail sector as well as by a challenging economic environment.
For their part, Spain and Portugal are reporting very positive growth in their revenue figures. In Spain, this growth is driven by rising volumes in the frozen, fresh, and retail segments, as well as expanded capacity with the commissioning in 2026 of the San Agustín (Madrid) and Sant Vicenç dels Horts (Barcelona) facilities. In
Portugal, growth is being driven by the surge in international flows as well as the ramp-up of the Maia (Porto) facility, which has been operational since late 2025.
In Italy, revenue growth is driven primarily by sales momentum, which combines the acquisition of new customers in the foodservice sector with the development of existing accounts.
At the same time, in the United Kingdom, the increase in revenue resulted from a broad-based rise in volumes and the operation of the new Peterborough facility, acquired in August 2025.
Finally, in Switzerland, the very strong growth in revenue was driven by the acquisition of Christian Cavegn AG, supplemented by the addition of new customers and a positive currency effect.
Total revenue for the first half of 2026 amounted to €2,687.1m compared to
€2,474.1m for the first half of 2025, up 8.6% (+7.1% on a like-for-like basis).
Next publication: H1 Results: 3 September 2026, after the market closes.
