Excellent results in turnover and profits despite the difficulties
Jumbo Group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, announces that during the nine months of the current financial year (July 2013 – June 2014) net earnings reached € 69,48 million from € 48,15 million at the respective period of the previous financial year, implying an increase of 44,29% y-o-y.
It is recalled that the third quarter of the previous financial year was negatively effected by the the impairment of the subsidiary’s company deposits at the Bank of Cyprus.
On a comparable base, Group’s net earning for the nine months of the current financial year is increased by +5,92% y-o-y.
As it has already been announced, Group sales during the nine months reached € 410,94 million from € 381,85 million at the respective period of the previous financial year, increased by +7,62% y-o-y.
This performance is attributed to the significant increase of sales in Bulgaria and Cyprus in combination with the maintenance of the sales in Greece at positive rate. Moreover, the opening of the first 2 stores of the Group in Romania contributed at this positive performance.
• It is recalled that during the nine months of the current financial year 5 new stores started operating, 2 out of which are located in Greece, 1 in Cyprus and 2 in Romania while the leased store in Promachonas stopped operating.
Today the Group has a network of 66 stores 52 out of which are located in Greece, 4 in Cyprus, 8 in Bulgaria, 2 in Romania while what is really impressive is the response of the consumers to the online store e-Jumbo.
Moreover in February the company concluded the purchase of a building complex of warehouses and offices of 27.452 sqm for a total amount of approximately EUR 12 millions and as a result the Group has approximately 270.000 sqm freehold modern warehouses.
The gross margin profit reached 52,15% from 50,94% at the respective period of the previous financial year. This improvement is partly attributed to the straightening of the Euro as well as to the product offering.
EBITDA reached EUR 102,27 million from EUR 71,57 million at the respective period of the previous financial year, increased by 42,89% y-o-y.
On a comparable base, excluding the impairment of the subsidiary’s company deposits at the Bank of Cyprus Group’s EBITDA for the nine months of the FY 2013/2014 was increased by +12,59%.
Jumbo continues to invest targeting the operation of 4 new stores per year. More specifically, the opening of 6 to 8 new stores in the next 3 to 4 years is expected in Greece while in Romania it is expected that the store network will count 16 to 18 stores in the next 5 years.