DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

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

By Branislav Pekic
Share this article
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.

ADVERTISEMENT

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.

ADVERTISEMENT

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.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.