Ann: Change in substantial holding - EGP Capital, page-13

In order to have some elements of comparison, SGI indicated in a presentation in September 2023 that they had 8,000 business customers, doing on average around 11,600 $ of revenues per year*. Their main customer was doing around 5 % of sales or around 5.5 m $*.

So, in order to achieve its target above (additional 60 m$ of revenues with around 50 independant stores), it would need to increase its number of business customers by less than 1 % and would also need to have an average revenue/customer of around 1.2 m$ for these new customers (very different from existing customers). This target of revenue/customer looks high, but has been achieved with some of their customers.

* based on my own calculations