Spanish Retailer Covirán Sees Sales Rise 5.6% In Full-Year 2018
Spanish supermarket group Supermercados Covirán has posted a 5.6% increase in sales in full-year 2018, to €1.37 billion.
Of this total, some €1.24 billion was generated in its domestic Spanish operations, while €134 million was generated in neighbouring Portugal.
EBITDA at the business increased by 2.41% to €8.06 billon, with cash flow at the end of the year 8% higher than at the same point last year
The group, which operates a cooperative business model, boasts a total of 2,467 members, of which 2,244 are located in Spain and 223 in Portugal. In terms of market share, the group holds a 2.76% market share in Spain, and 0.88% of the market in Portugal.
Last year, it opened a new distribution facility in Sabadell, Barcelona, to help boost its distribution of fresh, chilled and frozen products in the market, following a €2 million investment. It now boasts a total of 30 logistics centres, of which three are located in Portugal.
"Coviran is starting a new cycle with strength, momentum and, above all, the commitment to work with the focus on our 2,500 Members, the biggest capital we have," commented Antonio Robles, the group's president and CEO.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.