June 23, 2021

Covirán closed 2018 with a 2.5% rise in sales and 1.4 million profit | Economy

Covirán closed 2018 with a 2.5% rise in sales and 1.4 million profit | Economy

The Cooperativa granadina Virgen de las Angustias, Covirán, has presented its 2018 accounts. "It is a result we are very satisfied with," assured its CEO, Rafael Cortés. Ensures that the growth of the banner has been "above what the market has grown." The main figures indicate that Covirán has had gross sales of 1,372 million euros, which represents a growth of 2.5% compared to the previous year. Of these sales, 90% come from Spain and the rest of Portugal. The group, the first cooperative of independent retailers in the Iberian Peninsula, increased its pre-tax profit by 13.6% in 2018 to 1.42 million euros. For this year, the cooperative's forecast is to grow by 4%, invest at least 10 million euros in improvements and add between 125 and 150 new stores.

Covirán has 15,653 employees distributed among the cooperative's headquarters, 30 distribution platforms and 3,034 supermarkets, led by 2,467 members.

It is the social benefit generated by Covirán which, judging from the interventions of both the CEO and the president of the cooperative -Antonio Robles, who resumed the position for the second time just a month ago-, what they are most proud of in the company. A sample of this is, as Cortés said this Thursday during the presentation of the annual accounts, its presence as the only supermarket of its kind in one of every four Spanish towns under 2,000 inhabitants. This means that there are, he explained, 310 municipalities that only have a supermarket thanks to the fact that a member of Covirán has decided to bet to settle there. "We thus avoid what would be in our sector the equivalent of the financial exclusion that so many people are suffering," Cortés said. They are also the only supermarket available to the inhabitants of 71 municipalities with a population between 2,000 and 10,000 inhabitants.

Cortés recalled that Covirán already has establishments in all Spanish communities which allows it to have a market share of 2.76%, which reaches 6.42% if it is limited to stores of less than 1,000 square meters, characteristic of the Covirán supermarkets. The expansion in Portugal, where it already has 283 stores, is going at a good pace and the Granada cooperative already has 0.85% of the market (2.55% in areas under 1,000 square meters).

The president of Covirán has referred to his brand as "a company with cause" to highlight the commitment to cooperativism and the social economy of the brand. Cortés has insisted that his cooperative has 86% of permanent contracts and that, in addition, they can show "the best ratio of employment generation per euro invested. That means that for every million euros generated by our partners, we generate twice as many jobs as the main operators in the market and still be profitable. " Robles has deepened: "Our partners, our businesses, generate more value, we structure society and generate a wealth that is redistributed".

Covirán, like other brands, has also opted to listen to its workers. According to its general director, these made 350 proposals for improvement in the work in 2018. Of these, 305 were implemented, 87%. Another of the actions they are most satisfied with is the solidarity rounding that has allowed, thanks to the cents that the buyers donate, to vaccinate more than 11,000 children against polio.


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