Positive narrative, difficult time

The last 29 years, the JUMBO Group, keep updating continuously, in valid and promptly way, its shareholders- partners for the developments of its financial figures and the market in general, and the Group is trying to keep them constantly in touch with the reality and the conditions faced by the management.

According to the official data regarding the performance of the financial figures that is announced today, the Jumbo Group recorded -for one more quarter- a significant increase in terms of sales that demonstrate the growing confidence of the consumer.

The Group's profitability is also increased, despite the continued deterioration of the conditions due to the exchange rate of the Euro against the dollar and the extraordinary difficulties that the Greek economy is facing which are not expected to improve in the coming months.

During the nine months of the current financial year 2014/2015, earnings were increased by +7,25% y-o-y at EUR 74,52 million form EUR 69,48 million at the respective period of last year.

During the nine months Group’s sales were increased by +8,57% y-o-y at EUR 446,13 million from EUR 410,94 million at the respective period of last year.

• The performance of the third quarter, January 2015- March 2015, has been positively affected by the Easter celebration which occurred one week earlier than the previous year.
• Now in a comparable basis, during the ten months of 2014/2015, Group sales growth came back at the first half level.

The management’s estimate for annual increase in sales between +4% to +6% is maintained despite the challenging circumstances.

• The gross margin eased at 51,89% from 52,15% at the respective period of last year.
• This erosion is due to the change of the product mix compared to last year (due to Easter celebration one week earlier) and to the appreciation of the USD vs EUR that effects the cost of the purchases.

EBITDA reached EUR 112,28million from EUR 102,27 million at the respective period of last year, increased by 9,78% y-o-y due to better cost management.

JUMBO Group does not stop investing in the Greek economy. At the end of the current fiscal year the operation of a store in Peloponnese (9,000 sq.m.) and one more in Romania (12,000 sq.m.) are expected. Moreover, the renovation of the store in Vari has been completed in May.

During the nine months of 2014/2015 the Jumbo Group proceeded with the opening of 5 new stores, one in Greece, one in Cyprus and three in Romania. As part of the strategy and the network utilization, in February 2015 the Company proceeded to the closure of the leased store in a mall in Aspropyrgos.

Today the Group has a network of 70 stores, 52 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 5 in Romania and also the on line store e-Jumbo.