Positive messages in a variable environment
At the Annual Analysts’ Presentation that took place today at the Association of Greek Institutional Investors in Athens, it was presented the Group’s activities, the financial results as well as the outlook and the targets of the Group.
On 30.06.2012 Jumbo Group operated a network of 58 stores of which 48 are located in Greece, 3 in Cyprus and 7 in Bulgaria. During the financial year that ended on 30.06.2012, the Group operated 6 new hyperstores, 4 of them in Greece and 2 in Bulgaria.
The annual sales of Jumbo Group reached € 494,29mil increased by +0,88% y-o-y. Despite the challenging macroeconomic environment the gross margin remained at 53,21% while the net after tax profit for the Group reached € 97.30mil increased by 2,85% y-o-y.
For the current financial year July 2012-June 2013, the Group will continue its efforts to reiterate the sales’ growth rate positive and to sustain its leading position in the market.
To achieve these objectives it is required:
- to continuously enrich the variety of products within the categories that the Group operates based on the developments and trends in demand
- to maintain product prices at stable levels and
- to strongly advertise
In addition, the Group by using its solid financial structure and infrastructure that has created in the previous years accelerates the implementation of its investment program by adding new stores in Greece and abroad, focusing on areas that in the past had no presence or on areas where it expected the least competition between new and already established Jumbo stores.
In July and in August 2012 the first 2 stores of the new financial year opened, the one at Nea Philadelphia (Attica) of total surface of 10ths sqm and the second at Palaio Faliro (Attica) of total surface 7,5ths sqm.
Moreover, it is expected that four more stores will open until the end of the current financial year, 3 in Greece and 1 in Bulgaria.
• Today, Jumbo Group operates a network of 60 stores of which 50 are located in Greece, 3 in Cyprus and 7 in Bulgaria.
Furthermore the company’s management referred that despite the difficult for everyone macroeconomic environment, the sales in the first two months of the current financial year July 2012-June 2013 increased by 1,15%.
It is reminded that according to the budget, the target for the current financial year is sales’ growth between 0%-2% while net earnings are expected to reach EUR 70mil as the deflationary pressures in Greece, the increase in transport costs and the strengthening of the dollar are expected to impact the gross margin by four percentage points.
The corporate presentation is available on the company’s website www.jumbo.gr