Extraordinary General Meeting for the approval of a new cash distribution

Despite the highly uncertain international economic environment, the JUMBO Group continues its growth and consumer friendly strategy, while at the same time maintaining its investment and dividend policy objectives.
January 2023 Group’s sales was simply outstanding in all countries and recorded an increase of c. 45% y-o-y.

However, management strongly emphasizes such a performance must not be extrapolated for the remainder of the year.

Sales performance by country:

• Greece:
In January 2023, the net sales of the parent company - excluding intragroup sales – increased by c. +48% y-o-y.

• Cyprus:
Sales in January 2023 increased by c. +32% y-o-y.

• Bulgaria:
The network's sales increased by c. +53% y-o-y in January 2023.

• Romania:
The network's sales increased by c. +40% y-o-y in January 2023.

As already been announced, in 2022, the Group’s sales in 2022 increased by c. +14% vs. 2021 and by c. +12% vs. 2019 beating management's expectations. Moreover, as at 31.12.2022 the Group’s cash and cash equivalent balances and other current financial assets stood at c. EUR 794 million.

Taking that into account the above mentioned, the Board of Directors decided at its meeting on February 8th, to proceed with an invitation of the Jumbo shareholders to an Extraordinary General Meeting on March 8th, 2023 for the approval of a cash distribution of a gross amount EUR 1,1550 per share, from non-distributed profits.

This amount is equal to the total amount distributed during 2022 and if the proposal is approved by the Extraordinary General Meeting, the payment will start on Monday 27.03.2023.