Jumbo Group maintained a positive growth throughout the crisis. Today, the growth returns to double digit on sales and earnings.
During the first quarter of the FY 2014/2015, that ended on 30/9/2014, earnings grew by 10.77% y-o-y at €20 million from € 18.01 million at the respective period of the last fiscal year.
As it has already been announced during the first quarter of the current financial year, sales were increased by + 10.92% y-o-y at € 145.51 million from € 131.19 at the respective period of the last financial year.
This performance is attributed to the positive growth rate of the stores in Greece thanks to the good tourist period of the country. The stores in Bulgaria and in Cyprus continue to record double digit sales growth while the two stores in Romania also contributed to the Group’s performance.
During the same period, Jumbo added one new store in Iasmos, Greece of a total surface of 9,000sqm approximately. Total investments for acquisition of fixed assets for the Group in the first quarter reached approximately € 5 million.
Gross margin was improved at 47.55% from 47.23% at the respective period of last year and EBITDA reached € 29.99million from €26.86 million at the respective period of last year, increased by 11.65% y-o-y. Despite the preparation for the opening of new stores in Cyprus and Romania, expenses as a percentage of sales in Group level were improved.
It should be noted that the important quarter for the financial year is, as always, the second quarter that includes the sales of Christmas Season.
On 30/09/2014 the net debt of the Group was negative by the amount of € 140.87 million. The company’s management, taking into consideration the good financial position of the company and for the benefit of its shareholders who demonstrate their trust and invest in the company in medium-long term, will proceed the assembly of an Extraordinary General Meeting that will approve the distribution of an extraordinary dividend of € 0.18 (gross) per share.
With regards to the latest developments of the Group’s store network, management and executives succeeded to prepare and launch the three new hyper-stores that will operate until December 2014 as it had been pre-announced. Specifically, in October the new store of the Group in Bucharest (12,000sqm) started its operation and in November the new store in the city of Oradea, Romania (12,000sqm). Moreover, in November also opened the new Jumbo in Limassol, Cyprus (12,000sqm).
With the opening of the abovementioned stores Jumbo Group operates a network of 70 stores in 4 countries. Of which 53 are located in Greece, 5 in Cyprus, 8 in Bulgaria and 4 in Romania as well as the on line store e-Jumbo.
At the end of the current financial year, it is expected the opening of one more store in Peloponnese of Greece (9,000 sqm) and one mope hyper-store in the city of Arad in Romania (12,000 sqm).