2021 sales up 19,87% to marginally miss 2019
In retail trade, to hit organic growth every year is a condition for survival. For the JUMBO Group, the constant reaffirmation of the consumer’s preference and the rewarding of shareholders are part of a long term unwritten, inviolable agreement.
2021, was another year marked by continuous and varied restrictions and prohibitions regarding the operation of the market.
At the same time, the violent disruption in the global supply chain and the peculiarity of the Greek market, forced the management of the Group to prepare and implement a new strategy regarding the product mix and to reschedule the operation of the new stores.
In December Group’s sales increased by c. 95% y-o-y with the known restrictions. In 2021 Group sales recorded an increase of c. 19,87% y-o-y, lagged -by c 2% - compared to the 2019 sales.
Sales performance by country:
• Greece: In December 2021, all the stores in Greece were open, but operated under the same restrictions. Respectively, in December 2020, all physical stores in Greece remained closed (Lockdown). For the 12 months of 2021, the net sales of the parent company - excluding intragroup sales - were increased by approximately +32% y-o-y.
• Cyprus: All stores were open without new restrictions. In December 2020, two of the five stores in the country remained closed. Sales in December 2021 upped by 15% y-o-y. For the 12 months of 2021, sales increased by c. 12% y-o-y.
• Bulgaria: The stores operated with the same strict restrictions for the country. Sales in December 2021 recorded a marginal increase of approximately 0,9%, compared to the respective month last year when one store remained closed. For the 12 months of 2021, the sales upped by 0,5% y-o-y.
• Romania: The stores operated with the same restrictions. Sales in December 2021, recorded a decrease of c. 9,8%y-o-y. For the 12 months of 2021, sales upped by 7% y-o-y.
In light of the above mentioned, trading for 2021 is impressive. However, we stress as of mid-December 2021, the epidemiological situation worsened, and the market weakened which is considered as a sign of uncertainty and instability.
In addition, supply chain problems and inflationary pressures, although initially assessed as temporary, are not expected to improve in 2022 acting as a head wind of the Group's growth prospects.
Jumbo's philosophy remains the same and the company's management remains true to its policy for dividend distribution each year despite difficult circumstances.
For 2021, the total gross amount that has already been paid to the shareholders against the profits of the year 2021, amounts to 0,77 EUR/ share.
For 2022 as announced, the Company will proceed to an Extraordinary General Meeting on January 19, 2022 where the shareholders are invited to approve, among others, an extraordinary cash distribution from taxed and non-distributed profits of the financial years 01.07.2016-30.06.2017 and 01.07. 2017-30.06.2018, which is equivalent to a gross amount of 0,3850 EUR/ share, i.e. an amount equal to half of the total amount distributed for 2021.
2021, was another year marked by continuous and varied restrictions and prohibitions regarding the operation of the market.
At the same time, the violent disruption in the global supply chain and the peculiarity of the Greek market, forced the management of the Group to prepare and implement a new strategy regarding the product mix and to reschedule the operation of the new stores.
In December Group’s sales increased by c. 95% y-o-y with the known restrictions. In 2021 Group sales recorded an increase of c. 19,87% y-o-y, lagged -by c 2% - compared to the 2019 sales.
Sales performance by country:
• Greece: In December 2021, all the stores in Greece were open, but operated under the same restrictions. Respectively, in December 2020, all physical stores in Greece remained closed (Lockdown). For the 12 months of 2021, the net sales of the parent company - excluding intragroup sales - were increased by approximately +32% y-o-y.
• Cyprus: All stores were open without new restrictions. In December 2020, two of the five stores in the country remained closed. Sales in December 2021 upped by 15% y-o-y. For the 12 months of 2021, sales increased by c. 12% y-o-y.
• Bulgaria: The stores operated with the same strict restrictions for the country. Sales in December 2021 recorded a marginal increase of approximately 0,9%, compared to the respective month last year when one store remained closed. For the 12 months of 2021, the sales upped by 0,5% y-o-y.
• Romania: The stores operated with the same restrictions. Sales in December 2021, recorded a decrease of c. 9,8%y-o-y. For the 12 months of 2021, sales upped by 7% y-o-y.
In light of the above mentioned, trading for 2021 is impressive. However, we stress as of mid-December 2021, the epidemiological situation worsened, and the market weakened which is considered as a sign of uncertainty and instability.
In addition, supply chain problems and inflationary pressures, although initially assessed as temporary, are not expected to improve in 2022 acting as a head wind of the Group's growth prospects.
Jumbo's philosophy remains the same and the company's management remains true to its policy for dividend distribution each year despite difficult circumstances.
For 2021, the total gross amount that has already been paid to the shareholders against the profits of the year 2021, amounts to 0,77 EUR/ share.
For 2022 as announced, the Company will proceed to an Extraordinary General Meeting on January 19, 2022 where the shareholders are invited to approve, among others, an extraordinary cash distribution from taxed and non-distributed profits of the financial years 01.07.2016-30.06.2017 and 01.07. 2017-30.06.2018, which is equivalent to a gross amount of 0,3850 EUR/ share, i.e. an amount equal to half of the total amount distributed for 2021.