Extraordinary cash distribution of EUR 0,60 per share
In 2023, Jumbo Group's sales increased by around +14% compared to 2022, exceeding the 1 billion mark and management's estimates of +12% sales growth.
In December 2023, Jumbo Group's sales increased by c. +9% y-o-y.
Once again, the Jumbo Group's strategic decision to maintain prices in line with consumers' incomes was confirmed by the Christmas and New Year season sales performance.
The Group will maintain its strategy despite some of the major international logistics groups using the tension in the Red Sea as an excuse to more than double the cost of transport, while both sides are bound by annual contracts for 2024.
• The Jumbo Group declares that it does not sell - and therefore has no intention of offering - situationally overpriced products that would further burden the Greek consumer with already disproportionate price hikes.
• The selection of products is made in direct response to the needs and buying capabilities of the consumer. Therefore, the Jumbo Group refuses to purchase and retail products enhanced by techniques and methods that do not comply with internationally accepted commercial ethics.
With cash and cash equivalents of approximately EUR 431 million at 31 December 2023, the Board of Directors decided at its meeting on 16 January 2024 to invite Jumbo shareholders to an Extraordinary General Meeting on 7 February 2024 to decide on a cash distribution of a gross amount EUR 0,60 per share, from non-distributed reserves.
Sales performance by country:
Greece:
In December 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 4% y-o-y.
Overall, for 2023 the net sales of the parent company - excluding intragroup sales – increased by c. 14% y-o-y. We remind stakeholders that due to the unprecedented floods in early September, one of the two stores in Larissa and the store in Karditsa remain closed. The company continues to work towards the full restoration and reopening of the stores.
Cyprus:
The network's sales increased by c. 4% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 11% y-o-y.
Bulgaria:
The network's sales increased by c. 12% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 13% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 18% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 15% y-o-y.
Store network development
For 2024, the Group's target is to open three more hyperstores in Romania and one hyperstore in Cyprus.
In 2023, the Group's started is online store in Romania and opened a new owned hyperstore in Iasi (Romania) and a leased hyperstore in the center of Plovdiv (Bulgaria)
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 has 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 under the JUMBO brand.
In December 2023, Jumbo Group's sales increased by c. +9% y-o-y.
Once again, the Jumbo Group's strategic decision to maintain prices in line with consumers' incomes was confirmed by the Christmas and New Year season sales performance.
The Group will maintain its strategy despite some of the major international logistics groups using the tension in the Red Sea as an excuse to more than double the cost of transport, while both sides are bound by annual contracts for 2024.
• The Jumbo Group declares that it does not sell - and therefore has no intention of offering - situationally overpriced products that would further burden the Greek consumer with already disproportionate price hikes.
• The selection of products is made in direct response to the needs and buying capabilities of the consumer. Therefore, the Jumbo Group refuses to purchase and retail products enhanced by techniques and methods that do not comply with internationally accepted commercial ethics.
With cash and cash equivalents of approximately EUR 431 million at 31 December 2023, the Board of Directors decided at its meeting on 16 January 2024 to invite Jumbo shareholders to an Extraordinary General Meeting on 7 February 2024 to decide on a cash distribution of a gross amount EUR 0,60 per share, from non-distributed reserves.
Sales performance by country:
Greece:
In December 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 4% y-o-y.
Overall, for 2023 the net sales of the parent company - excluding intragroup sales – increased by c. 14% y-o-y. We remind stakeholders that due to the unprecedented floods in early September, one of the two stores in Larissa and the store in Karditsa remain closed. The company continues to work towards the full restoration and reopening of the stores.
Cyprus:
The network's sales increased by c. 4% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 11% y-o-y.
Bulgaria:
The network's sales increased by c. 12% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 13% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 18% y-o-y in December 2023. Overall, for 2023 the network's sales increased by c. 15% y-o-y.
Store network development
For 2024, the Group's target is to open three more hyperstores in Romania and one hyperstore in Cyprus.
In 2023, the Group's started is online store in Romania and opened a new owned hyperstore in Iasi (Romania) and a leased hyperstore in the center of Plovdiv (Bulgaria)
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 has 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 under the JUMBO brand.