STEF (STF) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenue increased by 6.6% year-over-year, reaching €1,298.3M, with a 5.4% rise on a like-for-like basis.

• Growth driven by recent acquisitions and strong performance in both France and international markets.

• Cumulative revenue for the first nine months of 2025 totaled €3,772M, up 6.5% from the same period in 2024.

Financial highlights

• STEF France revenue rose 3.0% to €623.6M, with stable transport volumes and growth in retail and foodservice.

• STEF International revenue increased 7.4% to €501.2M, with notable gains in Spain, Portugal, and Switzerland.

• Other segments grew 19.0% to €173.4M, and Foodservice business sales rose 19.8% to €169.7M.

Outlook and guidance

• Revenue growth brings the group closer to its €5 billion target, including external growth.

• Margin pressure highlighted at the half-year is expected to persist through year-end.