Net Profit of EUR 303million in 2023.

Proposed dividend of EUR 1,00/share

JUMBO's tough strategic decision of daily price reductions in an uncertain and turbulent international environment with inflationary pressures, is finally paying off, and is now being copied by others.

In 2023, Group's net income reached EUR 303,00 million, increased by 21,88% y-o-y.

  • Management will propose at the upcoming shareholders' General Meeting, the distribution of a dividend EUR 1,00 (gross) per share which represents the 45% of Group's net profits.

The management of the Jumbo Group declares its willingness to contribute in any possible way to the efforts of governments to bring prices in line with consumer incomes and supports any initiative (e.g. basket of seasonal products at extremely reduced prices) aiming at market normalization and the uninterrupted operation of the supply chain.

Although year to date sales and profitability indications are optimistic, due to the volatility from the war in the Middle East, management will review its full year 2024 estimates with the release of April sales, which account for four-fifths of the total Easter Season.

2023 Figures

Group sales exceeded EUR 1 billion.

Sales increased by 13,90% y-o-y and stood at EUR 1.081,39 million.

Gross profit margin reached 55,77% vs 55,92% in 2022

  • EBITDA for the Group landed at EUR 398,10 million form EUR 336,75 million in 2022, increased by 18,21% y-o-y.
  • The Group's net income increased by 21,88% y-o-y at EUR 303,00 million

Liquidity

As at 31 December 2023, the Group was net cash positive by EUR 370,41 million versus EUR 522,48 million as at 31.12.2022.

The company, taking advantage of its strong and sound financial provision, proceeded in May 2023, with the pre-payment of the ordinary bond amount of EUR 200 million issued in 2018 maturing in 2026, without any fees or other costs.

  • Total cash distribution for 2023 was EUR 2,947 per share (gross) before withholding tax.
The Management will propose to the upcoming shareholders meeting the distribution of a dividend of EUR 1,00 (gross) per share.

On 26 March 2024, Jumbo paid an extraordinary cash distribution of EUR 0,60 per share.

Sales in the First Quarterly of 2024

Due to the strong seasonality of sales in Greece and Cyprus, whereby the Carnival celebration has shifted back on 17 March this year (26 February last year), Jumbo Group's sales in March 2024 were up by c 17% compared to the same month last year.
  • over the first quarter of 2024, Group's sales were up by +6% y-o-y.

Sales performance by country:

Greece:
 In March 2024, the net sales of the parent company - excluding intragroup sales - increased by c. 18% y-o-y.

Overall, for the first quarter of 2024 the net sales of the parent company - excluding intragroup sales - increased by c. 4% y-o-y.

Cyprus:

The network's sales increased by c. 27% y-o-y in March 2024. Overall, for the first quarter of 2024 the network's sales increased by c. 4% y-o-y.

Bulgaria:

The network's sales increased by c. 10% y-o-y in March 2024. Overall, for the first quarter of 2024 the network's sales increased by c. 10% y-o-y.

Romania:

The network's sales (including the on-line store www.e-jumbo.ro ) increased by c. 14% y-o-y in March 2024. Overall, for the first quarter of 2024 the network's sales increased by c. 13% y-o-y.

Store network

As at 31 December 2023, the Jumbo Group had 85 stores, of which 53 in Greece, 5 in Cyprus, 10 in Bulgaria and 17 in Romania.

The Group also had online stores in Greece, Cyprus, and Romania.

Through partnerships, the Group is present in 7 countries (Albania, Kosovo, Serbia, Northern Macedonia, Bosnia, Montenegro, Serbia, Montenegro and Israel) with 36 stores carrying the JUMBO brand.

  • In April 2024, opened the restored Jumbo hyper-store in Karditsa. It closed due to the unprecedented floods in early September 2023.
  • One more owned store was added in Oradea, Romania, JUMBO's second in the city.
Until the end of 2024 the following owned stores are expected to open:

• hyper-store in Nicosia (Cyprus)
• hyper-store in Timisoara (Romania)
• hyper-store in Bucharest (Romania)
• the re-opening of the Larissa store

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Jumbo SA published this content on 17 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 April 2024 14:43:00 UTC.