SQDC sold 300 million $CA and 47 tonnes of cannabis in the last 12 months

In its first full year of operation, Société Québécoise Du Cannabis (SQDC) sold 300 million $ of cannabis, generating 70 million $ in profits, and estimates that it has succeeded in capturing 30% of the illicit cannabis market.

In its 2020 report, SQDC, which reports on its activities from March 2019 to March 2020, considers itself to be «one of the most profitable state-owned cannabis companies in Canada». The previous fiscal year, which was not a full year, saw a deficit of 4.9 million $ despite cannabis sales of 71 million $. This was due to the costs inherent in structuring the network and developing SQDC's offering, which seem to have been absorbed in this second year.

Over the past 12 months, SQDC has sold 47 tonnes of cannabis (43 tonnes of weed and 4 tonnes of other products) and now offers between 150 and 180 different products, sourced from 14 different suppliers. 40% of the cannabis sold by SQDC comes from Quebec. The province now boasts 41 sales outlets employing almost 700 people. In-store sales are still widely favored, with 285 million $ compared with 25 million $ for online sales.

SQDC will pay 26 million $ to the Quebec government, in addition to the 120 million $ collected by the excise tax and paid to the federal and provincial levels.

SQDC's 2021-2023 development plan calls for more than doubling the number of stores, sourcing 20% from Quebec-headquartered companies and continuing to diversify its product offering.

SQDC is the only authorized recreational cannabis distribution network in Quebec. Self-cultivation of cannabis is prohibited and the legal age for buying cannabis is 21. The province has a population of 8.5 million.