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Coviran Sees 21% Growth In Sales In Full-Year 2020

Published on Jun 23 2021 7:25 AM in Retail tagged: Spain / Portugal / Coviran

Coviran Sees 21% Growth In Sales In Full-Year 2020

Spanish cooperative and supermarket chain Coviran reported €1.7 billion in gross sales in its 2020 financial year, up 21.5% year-on-year.

Sales in Portugal amounted to €196 million, while Spain generated €1.50 billion in sales.

EBITDA increased by 11% compared to the previous year, to €11.5 million, while cash flow was €810 million (+14.6%), and investments amounted to €4.17 million.

Coviran ended 2020 with 2,430 members and 2,876 outlets – including 2,596 in Spain and 280 in Portugal. 

As a leading player in the proximity model in Spain, Coviran also witnessed significant growth in sales area, with a 4.9% growth in the number of stores bigger than 150 square metres.

Improving Assortment Quality

During the year, Coviran continued to improve the quality of assortment and reformulate its own-brand product composition to make them healthier. As a result, the company reformulated 1,276 SKUs in Spain and 1,180 in Portugal.

It also increased the range of gluten-free products in Portugal, to meet the increased demand for products suitable for coeliacs.

In addition, it is working with local suppliers to offer a wide range of fresh products.

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The cooperative collaborates with around 2,910 suppliers in Spain and Portugal, from whom it has purchased goods worth €1.4 billion.

Improving Efficiency

Elsewhere, Coviran continued the rollout of its New Coviran Concept, closing 2020 with 267 'efficient' supermarkets.

It also operates 71 'responsible' Coviran outlets, a store format designed to offer improved accessibility, energy efficiency, responsible hiring, and combat food waste.

In January of this year, Coviran announced that it eliminated the use of non-biodegradable plastic bags from its stores.

© 2021 European Supermarket Magazine. Article by Branislav Pekic. For more Supply Chain news click here. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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