Presentation of Jumbo to the Association of Greek Institutional Investors
The Annual Analysts Presentation took place today 07/10/2009 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 2008-June 2009 as well as to the outlook of the company.
On June 30, 2009 the Group operated 44 Jumbo stores of which 19 are in Attica, 22 in Greek province, 2 in Cyprus and 1 in Bulgaria. During the last financial year Jumbo expanded its network with the opening of four hyper stores in Greece and closed one store in Attica in accordance to the network’s restructuring plan.
On the current financial year June 2009-July 2010 the company will open two new hyper stores one in Bulgaria (Plovdiv) and one in Preveza in Greece.
During the financial year 2008/2009 Group sales were increased by 15.81% y-o-y at €467,8m as a result of the new store openings as well as the increased productivity and efficiency of the Jumbo store’s network.
Despite the difficult macroeconomic environment during the fiscal year, the gross margin remained on high levels to 54.4%. EBITDA increased by 11% at € 139,6m while net profits increased by 16,03% at € 95.7m.
The management of Jumbo SA will propose at the shareholders General Meeting the distribution of 23 eurocents dividend per share.
Furthermore the company’s management referred to the first quarter sales growth. Despite the bad current macroeconomic environment and the effect that had in September’s sales the pre election activity of the parties, sales grew by 8.35% in the first quarter of the current financial year July 2009-June 2010 in line with the management’s estimates.
The corporate presentation is available on the company’s website www.jumbo.gr