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