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Coviran Sees 6% Sales Growth, Plans Morocco Launch

Published on Mar 8 2018 8:00 AM in Retail tagged: Trending Posts / Portugal / Coviran / Morocco / Spanish Retail / Paywall

Coviran Sees 6% Sales Growth, Plans Morocco Launch

Spanish cooperative retailer and distributor Covirán ended 2017 with 6.3% annual sales growth, as revenues rose to €1.34 billion.

Of this total, close to €120 million corresponds to sales in Portugal, and €1.22 billion to sales in the Spanish market. Both net profit and EBITDA grew by 5%, reaching €1.09 million and €7.87 million, respectively.

There are now a total of 2,500 Covirán supermarkets, of which 2,300 are in Spain and 200 in Portugal, giving the company the second largest store network in Spain and third in Portugal. The retailer has gained market share of 2.76% in Spain and 0.85% in Portugal.

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