Consumers’ increased confidence leads to pleasant surprises for JUMBO’s shareholders

All employees and executives of JUMBO Group are feverishly and excitingly prepared for the most critical – in commercial terms - season of the year, Christmas and New Year’s Eve celebrations.

Both market messages and consumer response are so far optimistic.

• The growth rate of sales for the period July- November 2019 was increased compared to the 8% growth rate of the same period of the last year and compared to the previous quarter (July-September).

A new owned hyper-store opened in November in the city of Brasov, Romania (approximately of 14.000sqm), which is expected to add new momentum to the figures of JUMBO Group.

In accordance to the decision of the recent General Meeting of Shareholders (November 6, 2019), from 2020, the financial year of Jumbo Group will start in January and will end in December of each year.

Exceptionally this year, the financial year started on July 1, 2019 and will be completed on December 31, 2019.
The company’s management has already announced its intention to distribute an increased dividend by 20% for both the current and the next financial year.

• Consequently, it is budgeted that for the six-month financial year (July- December), shareholders will be entitled to a dividend that will be half of the annual dividend for the financial year ended on 30.06.2019 increased by 20%, implying a gross amount of 0,282 EUR/ share.

Due to the steady and increased confidence of the consumers’ in JUMBO stores and in anticipation of the results of the - catalytic for the financial year of the Group - holiday season, in combination with the traditionally increased liquidity after Christmas holidays, management's intention is to suggest:

• at the forthcoming Board of Directors meeting, the immediate assembly of an Extraordinary General Meeting of Shareholders within January 2020. The item of the agenda will be the approval of the extraordinary distribution of approximately 80% of this year's dividend (gross amount of 0,22 Euro / share), which will be received from taxed extraordinary reserves of previous years undistributed earnings, without waiting for the final annual results in Spring 2020.

Following the decision of the Board of Directors, there will be a detailed announcement of the invitation for the Extraordinary General Meeting regarding the approval of the extraordinary distribution proposal.

At the end of the current financial year, Jumbo Group will count a network of 80 stores.

Of which 52 are in Greece, 5 in Cyprus, 9 in Bulgaria and 14 in Romania, while the Group operates its online store in Greece.

By the end of December 2020, a new store will be added in Greece (approximately of 9.000 sqm) and a new hyper- store in Nicosia, Cyprus (approximately of 11.000 sqm).

It will also operate a new privately owned store in Craiova, Romania (approximately of 12.000 sqm), while in the same complex will operate warehouse facilities and services for Romania’s e - jumbo (approximately 33.000 sqm).

The Group, through partnerships, has presence in 26 stores that operate under Jumbo brand in 6 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia and Montenegro).