2022 confirmed the strategic choices of the JUMBO Group
"The price-quality correlation must be in favor of the consumer", that is JUMBO’s strategic choice which was confirmed by the results in all the countries where the group operates.
The selected product mix, the rejection of every product code with unfair - at the expense of the consumer - pricing, was evaluated, and voted by millions of consumers in Greece, Cyprus, Bulgaria and Romania.
Overall, the Group’s sales in 2022 increased by c. +14% vs. 2021 and by c. +12% vs. 2019 beating management's expectations.
In 2023, the management is committed to following the same growth and consumer friendly strategy, while at the same time maintaining its investment and dividend policy objectives.
The company will provide its 2023 guidance, within the first four months and provided key parameters impacting the product- price correlation stabilize.
As we type the January 2023 Group’s sales trading is simply outstanding. However management strongly emphasizes such a performance must not be extrapolated for the remainder of the year.
In more details:
Greece
In December 2022, the net sales of the parent company - excluding intragroup sales – increased by c. +15% compared to December 2021.
• Overall, for the year 2022, the net sales of the parent company - excluding intragroup sales- increased by c. +14% y-o-y.
Cyprus
Sales in December 2022 increased by c. +21% y-o-y maintaining the strong performance.
• Overall sales in Cyprus for 2022 increased by approximately +22% y-o-y.
Bulgaria
The network's sales increased by c. +45% y-o-y in December 2022. Sales in Bulgaria for 2022 increased by c. +17% y-o-y.
Romania
The network's sales increased by c. +29% y-o-y in December 2022. Sales in Romania for 2022 increased by c. +10% y-o-y.
During 2022 two new hyper-stores started their operations, the first one in Greece, at the island of Mytilene, in March 2022, and the second one in Romania at the city of Sibiu in November 2022.
As at 31.12.2022, the Group’s network had 83 stores, 53 of which were in Greece, 5 in Cyprus, 9 in Bulgaria and 16 in Romania, while the online store is operational in Greece and Cyprus.
Two more hyper-stores in Romania and one hyper-store in Cyprus are expected to open in 2023. Furthermore, the online store in Romania is expected to begin operations.
The Company, through collaborations, has presence, with 32 stores operating under the JUMBO brand, in 6 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia and Montenegro). In the first quarter of 2023, the first store bearing the JUMBO brand will open in Israel.
The selected product mix, the rejection of every product code with unfair - at the expense of the consumer - pricing, was evaluated, and voted by millions of consumers in Greece, Cyprus, Bulgaria and Romania.
- In December 2022 he JUMBO Group, managed an impressive sales increase of c +22% y-o-y.
Overall, the Group’s sales in 2022 increased by c. +14% vs. 2021 and by c. +12% vs. 2019 beating management's expectations.
In 2023, the management is committed to following the same growth and consumer friendly strategy, while at the same time maintaining its investment and dividend policy objectives.
The company will provide its 2023 guidance, within the first four months and provided key parameters impacting the product- price correlation stabilize.
As we type the January 2023 Group’s sales trading is simply outstanding. However management strongly emphasizes such a performance must not be extrapolated for the remainder of the year.
In more details:
Greece
In December 2022, the net sales of the parent company - excluding intragroup sales – increased by c. +15% compared to December 2021.
• Overall, for the year 2022, the net sales of the parent company - excluding intragroup sales- increased by c. +14% y-o-y.
Cyprus
Sales in December 2022 increased by c. +21% y-o-y maintaining the strong performance.
• Overall sales in Cyprus for 2022 increased by approximately +22% y-o-y.
Bulgaria
The network's sales increased by c. +45% y-o-y in December 2022. Sales in Bulgaria for 2022 increased by c. +17% y-o-y.
Romania
The network's sales increased by c. +29% y-o-y in December 2022. Sales in Romania for 2022 increased by c. +10% y-o-y.
During 2022 two new hyper-stores started their operations, the first one in Greece, at the island of Mytilene, in March 2022, and the second one in Romania at the city of Sibiu in November 2022.
As at 31.12.2022, the Group’s network had 83 stores, 53 of which were in Greece, 5 in Cyprus, 9 in Bulgaria and 16 in Romania, while the online store is operational in Greece and Cyprus.
Two more hyper-stores in Romania and one hyper-store in Cyprus are expected to open in 2023. Furthermore, the online store in Romania is expected to begin operations.
The Company, through collaborations, has presence, with 32 stores operating under the JUMBO brand, in 6 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia and Montenegro). In the first quarter of 2023, the first store bearing the JUMBO brand will open in Israel.