At the Annual Analysts’ Presentation that took place today at the Hellenic Fund and Asset management Association in Athens, the Group’s activities, the financial results as well as the outlook and the targets of the Jumbo Group were presented.
• The sales of the Group for the financial year July 2013- June 2014, escalated to EUR 541,85 million from EUR 502,18 million of the previous fiscal year, implying an increase of +7,90% y-o-y.
• Earnings before tax for the Group escalated to EUR 129,98 million from EUR 95,70 million of the previous fiscal year, implying an increase of +35,81% y-o-y.
• The net earnings reached EUR 101,25 million from EUR 73,93 million of the previous financial year, increased by 36,89% y-o-y.
• It is recalled that the earnings of the previous financial year were negatively affected by the impairment of the subsidiary’s company deposits at the Bank of Cyprus. On a comparable base, Group’s pre tax earnings were increased by +8,97%. Respectively, the net earnings for the Group were increased by +4,77% affected mainly by the increase of the taxes in Greece.
The Company’s management, taking into consideration, among others, the Group's performance, prospects and investment plans will propose to the Annual General Meeting of its shareholders, that will be held on 17.10.2014, the distribution of a dividend of EUR 0,18 per share (gross) for the year ended in June 2014.
The new fiscal year has begun with optimism. The first two months, July and August, of the new fiscal year (July 2014 - June 2015) started strongly with sales growing by over 10%. In Greece, the company launched in August the new store in Iasmos (9,000 square meters) and also the fully renovated Jumbo store in Piraeus reopened.
Today, the Jumbo store network has 67 stores, 53 out of which are located in Greece, 4 in Cyprus, 8 in Bulgaria and 2 in Romania as well as the on line store e-Jumbo.
The company’s management has informed its investors that by December 2014 the operation of two new hyper - stores in Romania will begin. The one in Bucharest (12,000 m²) and the other in Oradea (12.000 m²) while another super-store is expected to open in Arad (12.000m²) during the second half of the current financial year.
Also, during the year it is expected a new JUMBO store in Cyprus (12,000 m²) and a store in Peloponnese of Greece (9,000 m) to open.
In the current financial year, the JUMBO proceeded with the expansion of its cooperation with the Kid Zone company, with the opening of a store in Kosovo which is expected to be operational in the first half of the current fiscal year.
The management also reminded that according to the budget for the fiscal year 2014-2015, sales are expected to increase between 4% -6%, while net profit is estimated to stand at EUR 90 million – EUR 95 million.
The presentation is available on the Company's website www.jumbo.gr