JUMBO always keeps its promises

The financial year that ended on June 30th, 2013 was a challenging year. Not only for the Greek citizen, the taxpayer and the consumer, not only for the economy and the Greek retail sector but also for the Cypriot economy.

During this peculiar 12-month period many economic, political and social events occurred. Events, that had significantly affected the JUMBO stores day to day. Only one thing remained unchanged: The relationship of absolute trust between JUMBO and its consumers, employees and shareholders partners. At the end of the financial year, the JUMBO did not fail to meet expectations and reported a net profit close to the targets that had been set at the beginning of the financial year.

Consolidated sales for the financial year July 212- June 2013, reached EUR 502,2 million from EUR 494,3 million at the previous year, implying an increase of +1,60%

The Group opened 4 new stores 3 out of which are in Greece and 1 in Bulgaria. At the end of the financial year 2012/2013 the Jumbo network included 62 stores, 51 out of which are located in Greece, 3 in Cyprus and 8 in Bulgaria. Moreover, the company launched its on line store in Greece www.e-jumbo.gr.

During the financial year 2012/2013 the gross margin of the Group eased by 0.88% at 52,33% from 53,21% at the previous year as the Euro / dollar exchange rate performed better than it was expected and the transportation costs rose less than initially anticipated.

• Consolidated EBITDA reached EUR 110,39 million from EUR 134,42 million at the previous year implying a decrease of -17,88% due to loss approximately of EUR 23,58 million concerning the impairment of the subsidiary’s company deposits at the Bank of Cyprus.

• On a comparable base, excluding the above extraordinary event the Group’s EBITDA for the financial year 2012/2013 would had been at EUR 133,97million decreased by only -0,34%.

• Τhe net profit of the Group reached € 73,96 million decreased by approximately -23,99% y-o-y.

The company’s management will propose to the Annual General Meeting that will be held on 6.11.2013 the non distribution of dividend for the financial year ended in June 2013 as its intention is the full repayment of the bond loan of EUR 145 million that matures in May 2014.

For the current financial year it is estimated that sales will increase by 2%-4% while profits will reach EUR 75 million.

Until December 2013, the opening of the two leased hyperstores in Romania, one in Timisoara (13.000 sqm) and the other in Bucharest (14.000 sqm) is expected as well as the opening of the new leased store in Paphos of Cyprus (10.000 sqm). During the second half of the current financial year the opening of one owned store in Northern Greece (9.000 sqm) is expected.