Extraordinary cash distribution of €200m per share at the end of November. Sales up by 17% in 9m 2023
JUMBO’s Extraordinary General Shareholders’ Meeting was held today, with increased participation and representation. Approximately 79% of shareholders attended.
Shareholders approved the BoD’s proposal for an extraordinary cash distribution of total amount EUR 200.008.000,00 from taxed and non-distributed profits of previous fiscal years, which implies a gross amount of 1,47 EUR/share. The payment will start as at 29.11.2023.
During the assembly, shareholders were informed on the 9-month performance.
In September 2023, the Group’s sales increased by c. 13% y-o-y.
• Overall, for the 9-month period, the Group sales increased by c. 17% y-o-y
The last and most important quarter of the year - for the Group's overall sales performance - has already started. Jumbo’s strategic decision is unchanged to rewarding consumers by price decreases.
During the assembly, the Group's management informed its shareholder-partners that the new owned hyper-store in Iasi (Romania) will start operations this week and the new-leased hyper-store in the center of Plovdiv (Bulgaria) to open most likely beginning of November.
In Greece, one (out of the two stores) in Larissa and the store in Karditsa are closed due to the floods at the beginning of September and are not expected to be operational by the end of the year. The company will continue to work towards the full restoration and reopening of the stores.
Based on the data available to date, management has reiterated its expectation for sales growth by c. +12%, gross margin contraction by less than 200 basis points and net income increase by c. +15% in 2023 vs. y-o-y. The above-mentioned estimates include the provision of insurance compensation of sales and related profits of the two stores that remain closed due to the floods.
Management will continue to inform the investment community with monthly trading updates.
Sales performance by country:
Greece:
In September 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 8% y-o-y.
Overall, for the 9-month period of 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 18% y-o-y.
Cyprus:
The network's sales increased by c. 6% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 15% y-o-y.
Bulgaria:
The network's sales increased by c. 15% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 15% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 31% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 16% y-o-y.
Shareholders approved the BoD’s proposal for an extraordinary cash distribution of total amount EUR 200.008.000,00 from taxed and non-distributed profits of previous fiscal years, which implies a gross amount of 1,47 EUR/share. The payment will start as at 29.11.2023.
During the assembly, shareholders were informed on the 9-month performance.
In September 2023, the Group’s sales increased by c. 13% y-o-y.
• Overall, for the 9-month period, the Group sales increased by c. 17% y-o-y
The last and most important quarter of the year - for the Group's overall sales performance - has already started. Jumbo’s strategic decision is unchanged to rewarding consumers by price decreases.
During the assembly, the Group's management informed its shareholder-partners that the new owned hyper-store in Iasi (Romania) will start operations this week and the new-leased hyper-store in the center of Plovdiv (Bulgaria) to open most likely beginning of November.
In Greece, one (out of the two stores) in Larissa and the store in Karditsa are closed due to the floods at the beginning of September and are not expected to be operational by the end of the year. The company will continue to work towards the full restoration and reopening of the stores.
Based on the data available to date, management has reiterated its expectation for sales growth by c. +12%, gross margin contraction by less than 200 basis points and net income increase by c. +15% in 2023 vs. y-o-y. The above-mentioned estimates include the provision of insurance compensation of sales and related profits of the two stores that remain closed due to the floods.
Management will continue to inform the investment community with monthly trading updates.
Sales performance by country:
Greece:
In September 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 8% y-o-y.
Overall, for the 9-month period of 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 18% y-o-y.
Cyprus:
The network's sales increased by c. 6% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 15% y-o-y.
Bulgaria:
The network's sales increased by c. 15% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 15% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 31% y-o-y in September 2023. Overall, for the 9-month period of 2023 the network's sales increased by c. 16% y-o-y.