Kotsovolos with sales over the pre-Covid period

By George Lampiris

Kotsovolos recorded an increase in its size in the period from May 1st to October 30th, 2021, compared to the corresponding period of 2020, with the stores now open and without lockdown.

The company, owned by the Curry’s group – recently renamed Dixons – has also seen significant improvements compared to other subsidiaries operating in the Nordic Peninsula, the United Kingdom or Ireland. The total revenue for the first half of the year 2021-2022 amounted to 280 million pounds compared to 257 million pounds in the corresponding period 2020-2021. EBITDA was 22 22 million versus 17 17 million respectively and EBIT 11 11 million from 7 7 million.

Sales increased by 23% compared to pre-pandemic data

In terms of comparing the same period with the period before the pandemic in Greece, the turnover of Kotsovolos is even more enhanced by 23% compared to the period 2019-2020 from May 1 to October 30.

Kotsovolos was favored by the prolonged hot summer in Greece according to a relevant report, a fact that increased the sales of air conditioners in our country. Regarding Cyprus, where the company expanded in 2021, the course of the first two stores is characterized as positive. We remind you that the chain of electronic and electrical devices created two new stores last summer in Limassol and Nicosia.

Push to the digital channel from the “Care” voucher

Another factor that boosted Kotsovolos’ sales was the Digital Welfare measure in Greece, where with the provision of coupons of 200 euros by the government, Kotsovolos boosted sales through the eshop by 11%. This aid was recorded at the beginning of the period considered.

As for the eshop as a whole, it records sales that correspond to 8% of the total turnover of the chain. (It is recalled that the turnover in twelve months for Kotsovolos in the period 2020-2021 was 579 million euros).

Overall, the Curry’s group recorded sales in the first half of May to the end of October 2021, which amounted to 4.78 billion pounds with EBIT amounting to 95 million pounds and the EBIT margin at 2%.