Grupo Soledad reports record sales of 353 million euros for 2021

Sales turnover fell 15 per cent during 2020 at Iberian tyre retail and distribution specialists Grupo Soledad. However, figures rose 24 per cent in 2021, resulting in record sales of 353 million euros as well as profits of 13.7 million euros – both numbers suggesting that previous figures were a Covid-related blip and that the company is currently on a “V-shaped” recovery trajectory. Grupo Soledad’s previous sales record was 336 million euros in 2019.

With new car registrations hit across Europe, Spanish drivers are increasingly maintaining their existing cars. Indeed, Europool data shows that – in line with Grupo Soledad’s sales record – 2022 tyre sales in Spain exceeded those in 2019.

85 per cent of Grupo Soledad’s business is concentrated in Spain, where reported a turnover of 302 million euros, compared to 239.9 the previous year. This equates to a small drop in income from other European countries (mainly in France and Portugal), which generated 37.6 million euros compared to 38.4 million euros the previous year. However, the importance of non-EU markets almost doubled to 13.2 million euros. The group’s main market outside the EU is Morocco where the firm does business through Confort Pneu Maroc, which has two centres in Tangier and Casablanca.

Local newspapers report that Grupo Soledad is the leading tyre distributor in Spain, with a total of 18 logistics centres throughout the country, totalling more than 100,000 square metres. In addition, the firm runs the Confortauto chain which has 750 of its own and associated centres in Spain and Portugal.