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8<br />
ANNUAL REPORT <strong>2008</strong><br />
GROUP BUSINESS<br />
After sustained growth in the first half—7.95% like<br />
for like—despite lively competition spurred by the<br />
financial crisis, the downturn began to make an impact<br />
early in the second half. STEF-TFE managed to generate<br />
growth of 4.05% over <strong>2008</strong>. The logistics sector was<br />
more severely hit than transport by the slowdown in<br />
food spending in mass retail.<br />
The key point about transport activities is that oil<br />
prices were highly erratic throughout the year, combined<br />
with an unprecedented fall in demand. The resulting<br />
competitive pressure was particularly marked among<br />
struggling operators who only acted on prices.<br />
The Group's response was to step up its sales action<br />
and ensure operational efficiency and service quality<br />
in order to maintain prices that take account of all<br />
production costs. In a difficult economic climate, the<br />
seafood sector had an extremely difficult year.<br />
For logistics, the important point is the sector's<br />
stagnation compared to the previous year. Growth in<br />
supermarket and hypermarket customers was negative,<br />
if taking account of the loss of two accounts and weak<br />
demand in hypermarkets. Multi-customer activities,<br />
however, and home food services generated sales growth,<br />
allowing the logistics sector to maintain its 2007 level.<br />
The European Affairs Unit came into existence on 1st<br />
January 2007 and encompasses domestic markets<br />
outside France, i.e. Spain, Portugal, Belgium, Italy, the<br />
UK and Switzerland. It also includes the specialised<br />
structures that manage European and North African flows.<br />
The Sales and Marketing division's main goal is<br />
the implementation of a service offer and business<br />
development model that is standard throughout the<br />
Group, and <strong>2008</strong> was marked by increasing transversal<br />
sales coordination.<br />
The marketing department has conducted an analysis<br />
of all channels in the French agrifood industry, as a helpful<br />
tool in the creation of medium-term transport plans for<br />
TFE and Tradimar. Additional research includes national<br />
market surveys for Italy, Spain, Portugal and<br />
Benelux, and fifteen or so company profiles<br />
drawn up to improve knowledge of the Group's<br />
customers' supply chain. The department also<br />
helped to re-edit sales documents and analyse<br />
the market and competition.<br />
Real progress was made in coordinating sales<br />
policy on strategic accounts, allowing the<br />
Group to respond to these customers even more<br />
efficiently. Key account directors for Europe are being<br />
recruited, and common jobs-skills descriptions are being<br />
finalised. In <strong>2008</strong> the Group pursued this task, enabling<br />
it to capitalise on its strengths, both in France and abroad.<br />
<strong>2008</strong> was a busy year in terms of property, with five<br />
new sites opened, three of which are owned and two<br />
rented, extensions to eleven sites, including sites at Atton,<br />
Barcelona, Brignais, Le Plessis Belleville, Lisbon, Saintes<br />
(Belgium) and Saint-Sever (two sites). Extensive<br />
renovation work was undertaken at Amorebieta in Spain,<br />
Colturano in Italy, Montsoult, and Saintes in Belgium.<br />
Employees were busy on several other sites which were<br />
not finished at year end. As well as these new projects,<br />
regular maintenance work was carried out on these sites.<br />
Nine sites were closed, most of which were under<br />
franchise or lease, requiring the creation of redundancy<br />
schemes. ●<br />
Five new sites opened 5
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