The Annual Analysts Presentation took place today 01/10/2008 at the head office of the Association of Greek Institutional Investors in Athens, according to the company’s financial calendar. The company’s management referred to the Group’s activities, to the financial results of the period July 2007-June 2008 as well as to the outlook of the company.
On June 30, 2008 the Group operated 41 Jumbo stores of which 17 are in Attica, 21 in Greek province, 2 in Cyprus and 1 in Bulgaria. During the last financial year Jumbo expanded its network with the opening of two hyper stores one in Varimbombi (Athens area) and one in Sofia in Bulgaria which is the first store of the company at the neighbor country.
During the first two months of the current financial year, the company launched three more stores in Greece. One store is located in Rentis, an area of Athens, and is the largest store of the company, one store is located in Marousi of Athens and one in Promachonas in Serres near the Bulgarian borders. As a result the Group’s network currently counts 44 stores.
During the financial year 2007/2008 Group sales were increased by 17.88% y-o-y at €403,95m as a result of the increased productivity and efficiency of the Jumbo store’s network.
Despite the strikes in ports and inland transportation issues during the fiscal year, the gross margin once more improved by 120bps to 54.4%. EBITDA increased by 19% at € 125.6m while net profits increased by 21.50 at € 82.5m. In 2008 the company was subject to an extraordinary interest bearing taxation concerning the reserve it had formed based on the law 3220/2004 back in 2004. As a consequence the amount of € 1.4m which concerns tax, is included in the after tax results.
The management of Jumbo SA will propose at the shareholders General Meeting the distribution of 40 eurocents dividend per share, increased by 25% y-o-y as well as the distribution of bonus shares (one new for every one old).
Furthermore the company’s management referred to the first quarter sales growth. Despite the bad current macroeconomic environment, sales will show growth of at least 19%-20% in the first quarter of the current financial year July 2008-June 2009.
The corporate presentation is available on the company’s website www.jumbo.gr