With sales that exceeded 1 billion euros and an increase in profits, it closed for her Jumbo which will proceed to distribution dividend of 1 euro (gross) per share, an amount representing approximately 45% of the Group’s net profits.

The sizes

In particular, as the company states in its announcement, in 2023, the Group’s net profits amounted to 303.00 million euros, recording an increase of +21.88% compared to 2022.

Group sales crossed the 1 billion euro barrier, with sales registering a 13.90% increase compared to 2022, reaching 1.089 billion euros.

The gross profit margin was maintained at 55.77% from 55.92% in the previous corresponding period due to the slight deceleration in transportation costs.

The Group’s earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to 398.10 million euros from 336.75 million euros in the previous corresponding period, showing an increase of +18.21%.

In addition, it is noted that on December 31, 2023, the cash and cash equivalents together with the other circulating financial elements of the Group’s Assets, were higher than the total amount of its loan obligations and lease obligations, by the amount of 370.41 million. euros against 522.48 million euros on December 31, 2022. As Jumbo’s management explains, this happened because the company, taking advantage of its strong and healthy financial structure, proceeded, in May 2023, to pay off the entire joint bond loan of 200 million euros, issued in 2018 and due in 2026, without any charge or other cost. In total, cash distributions for 2023 amounted to 2,947 euros per share (gross) before withholding statutory dividend tax.

It is recalled that on March 26, 2024, Jumbo proceeded to pay the extraordinary cash distribution of 0.60 Euros per share.

First quarter sales

Regarding the first quarter of 2024, sales appear up 17% approximately compared to the corresponding month last year mainly due to the seasonality of sales in Greece and Cyprus where the Halloween celebration this year was on March 17 (February 26 last year). Overall, in the first quarter of 2024, the sales of the Group were increased by +6%.

The course of sales by country

  • Hellas: In March 2024, the parent company’s net sales (excluding intra-company transactions) showed an increase of approximately +18% as this year March also included sales related to the Halloween celebration. Overall for the first quarter of the year 2024, the net sales of the parent company – excluding intercompany transactions – showed an increase of approximately +4% compared to 2023.
  • Cyprus: Store sales during March 2024 were up by around 27% as this year March also included sales related to the Halloween celebration. In total, the sales of stores in Cyprus for the first quarter of 2024 have increased by approximately 4%, compared to the corresponding period last year.
  • Bulgaria: Network sales recorded an increase of approximately +10% in March 2024, compared to the corresponding month last year. In total, sales in Bulgaria for the first quarter of 2024 are up by approximately +10%, compared to the corresponding period last year.
  • Romania: The sales of the network as well as the online store (www.e-jumbo.ro) recorded an increase of approximately +14% in March 2024, compared to the corresponding month last year. Overall, sales in Romania for the first quarter of 2024 are up by around +13%, compared to the same period last year.

Finally, it is noted that on December 31, 2023, the Jumbo group numbered 85 stores. 53 are in Greece, 5 in Cyprus, 10 in Bulgaria and 17 in Romania. It also had online stores in Greece, Cyprus and Romania. Through partnerships, it had a presence with 36 stores bearing the Jumbo brand, in 7 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro and Israel). In April 2024, the renovated Jumbo superstore started operating in Karditsa where it remained closed due to the unprecedented flood phenomenon at the beginning of September 2023. Also, in the city of Oradea in Romania, the new privately owned superstore started operating, the second JUMBO in city.

By the end of 2024, they are expected to operate: a privately owned superstore in Nicosia (Cyprus), a privately owned superstore in Timisoara (Romania), a privately owned superstore in Bucharest (Romania), reopening of the store in Larissa.