Over the 2022 4month period sales increased by 25% .A constantly challenging economic environment
The Annual General Meeting of shareholders of the JUMBO Group was held today, May 5, 2022 with increased participation and representation of approximately 80%.
During the Meeting, the Group’s management informed the shareholders- partners, of sales over the first four months of the year.
Group sales in April 2022, increased by + 32% y-o-y. As a result, sales for the first four months of 2022, recorded an increase of + 25% y-o-y.
Sales performance by country:
• Greece: In April 2022, all the stores in Greece were open without any new restrictions barring the covid pass certificate.
In April 2022, the net sales of the parent company - excluding intragroup sales increased by approximately +47% compared to April 2021 when the 75% of the Group's stores in Greece reopened, with strict and disproportionate restrictions, relative to the size of the stores, regarding the number of customers allowed in the stores and only through the click inside or click away method.
Overall for the four months of 2022, the net sales of the parent company - excluding intragroup sales - increased approximately + 48% y-o-y.
• Cyprus: All stores continue to operate while as of April 18th safe pass certificates that had been imposed for incoming costumers were abolished. Sales in April 2022 increased by approximately +30% compared to April 2021 when the entire network remained closed during the Holy Week and remained closed during the week after Easter (total lock down). Overall for the four months of 2022, sales increased by approximately + 28% y-o-y.
• Bulgaria: Sales in April 2022 increased by approximately +41% compared to April 2021 when the stores were closed for the first ten days of the month. Overall for the four months of 2022, sales increased by approximately + 0,9% y-o-y
• Romania: Sales in April 2022 decreased by approximately -2% y-o-y. Overall for the four months of 2022, sales decreased by approximately -9% y-o-y.
Current conditions
The management informed the shareholders that despite the topline growth rate in the four months of 2022, the challenges and the uncertainty for the new year remain.
• The global supply chain does not work smoothly with the frequent lockdowns in ports in China due to the Covid-19, while in Greece strikes in the port worsen the situation. The increased freight cost shows no signs of de-escalation.
• Nevertheless, on the shelves of JUMBO stores, there are only products in which the final price-quality relation is judged that respects the consumer, despite the inevitable cost burdens.
The management of the Group assured the shareholders-partners that as things stand today, its intention is to maintain in full the dividend policy of 2021 and in 2022, distributing a total amount of 0,77 EUR / share. Therefore, in addition to the gross amount of 0,3850 EUR/ share that was decided to be distributed in January 2022, the intention of the management is to distribute the remaining 0,3850 EUR/ share again in the form of extraordinary cash distribution within the next two months.
During the Meeting, the Group’s management informed the shareholders- partners, of sales over the first four months of the year.
Group sales in April 2022, increased by + 32% y-o-y. As a result, sales for the first four months of 2022, recorded an increase of + 25% y-o-y.
Sales performance by country:
• Greece: In April 2022, all the stores in Greece were open without any new restrictions barring the covid pass certificate.
In April 2022, the net sales of the parent company - excluding intragroup sales increased by approximately +47% compared to April 2021 when the 75% of the Group's stores in Greece reopened, with strict and disproportionate restrictions, relative to the size of the stores, regarding the number of customers allowed in the stores and only through the click inside or click away method.
Overall for the four months of 2022, the net sales of the parent company - excluding intragroup sales - increased approximately + 48% y-o-y.
• Cyprus: All stores continue to operate while as of April 18th safe pass certificates that had been imposed for incoming costumers were abolished. Sales in April 2022 increased by approximately +30% compared to April 2021 when the entire network remained closed during the Holy Week and remained closed during the week after Easter (total lock down). Overall for the four months of 2022, sales increased by approximately + 28% y-o-y.
• Bulgaria: Sales in April 2022 increased by approximately +41% compared to April 2021 when the stores were closed for the first ten days of the month. Overall for the four months of 2022, sales increased by approximately + 0,9% y-o-y
• Romania: Sales in April 2022 decreased by approximately -2% y-o-y. Overall for the four months of 2022, sales decreased by approximately -9% y-o-y.
Current conditions
The management informed the shareholders that despite the topline growth rate in the four months of 2022, the challenges and the uncertainty for the new year remain.
• The global supply chain does not work smoothly with the frequent lockdowns in ports in China due to the Covid-19, while in Greece strikes in the port worsen the situation. The increased freight cost shows no signs of de-escalation.
• Nevertheless, on the shelves of JUMBO stores, there are only products in which the final price-quality relation is judged that respects the consumer, despite the inevitable cost burdens.
The management of the Group assured the shareholders-partners that as things stand today, its intention is to maintain in full the dividend policy of 2021 and in 2022, distributing a total amount of 0,77 EUR / share. Therefore, in addition to the gross amount of 0,3850 EUR/ share that was decided to be distributed in January 2022, the intention of the management is to distribute the remaining 0,3850 EUR/ share again in the form of extraordinary cash distribution within the next two months.