Store sales during March 2023 increased by approximately +18%, compared to the corresponding month last year.
The company's new store in Nicosia is expected to be operational at the end of 2023 or until the first quarter of 2024. Sales in Cyprus for the first quarter of 2023 were up around 30% compared to the corresponding quarter last year. Sales in the other markets in which the group is active, such as in Bulgaria, with an increase of 33% and in Romania with an increase of 29%, are at approximately the same levels. During the first quarter of 2023 the Group's sales were increased by approximately 33%. Overall for the first quarter of 2023, the parent company's net sales – excluding intercompany transactions – showed an increase of approximately 35.5% compared to the corresponding quarter last year.
In the latest annual financial report of the group, it is stated that the intention of the company JUMBO TRADING LTD is to add a privately owned super-store in Nicosia at the end of 2023 or during the first quarter of 2024. It is noted that the company had five stores until 31.12.2022 (1 in Nicosia, 1 in Larnaca, 2 in Limassol and 1 in Paphos), as well as the online store.
Sustainable Development
In addition, the Group, as part of its Sustainable Development policy, continues to invest in stores and warehouses aiming to reduce carbon dioxide emissions from electricity consumption. In 2021, the three-year program for the installation of self-consumption photovoltaic systems in 28 building facilities in Greece and Cyprus began, with a power that will exceed 9.7MWp. By 31.12.2022, six projects had been completed, four of which were in Cyprus and two in Greece, with a total capacity of 2,267MWp. The total production of the six systems is expected to exceed 3,441.55 MWh and with their use savings in Carbon Dioxide (CO2) emissions of the order of 2,523 tons per year will be achieved. The company, through partnerships, has a presence with stores bearing the JUMBO brand in seven countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro and Israel). It is noted that in March 2023 the first store bearing the JUMBO brand also opened in Israel.
On December 31, 2022, the JUMBO Group had 83 stores:
The sizes of 2022
• Sales increased +14.12% compared to 2021 and reached 949.38 million Euros.
• Gross profit margin was 55, 92% from 55.66% in 2021
• The Group's earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to 336.75 million Euros from 304.99 million Euros in 2021 showing an increase of +10%.
• The Group's net profits amounted to to €248.60 million from €216.59 million, up 14.78%
Liquidity
On December 31, 2022, cash and equivalently, the other current financial assets of the Group were higher than the total amount of its loan obligations and lease obligations, by the amount of €522.48 million compared to €549.14 million on 31.12.2021.< /p>
During 2022, the Company paid in the form of extraordinary cash distributions a total of 1.1550 euros gross per share, while in 2021 it had paid 0.77 euros gross per share.
2023 figures
The sales of the JUMBO Group during March 2023 recorded an increase of +22% compared to the corresponding month last year.
Consequently, the sales of the Group, for the first quarter of 2023, they appear increased by +33%.
In detail, the course of first quarter sales by country:
In March 2023, the parent company's net sales (excluding intra-company transactions) showed an increase of approximately +26%.
Overall for the first quarter of the year 2023, the parent company's net sales -without intra-company transactions- showed an increase of approximately +35.5% compared to 2022.
Store sales in March 2023 increased by approximately +18%, compared to the same period last year month.
In total, the sales of the stores in Cyprus for the first quarter of 2023 have increased by approximately +30%, compared to the corresponding period last year.
The sales of the network recorded an increase of approximately +17% Mario of 2023, compared to the corresponding month last year.
Total sales in Bulgaria for the first quarter of 2023 are up by approximately +33%, compared to the corresponding period last year.
Network sales increased by around +18% in March 2023, compared to the corresponding month last year. Overall sales in Romania for the first quarter of 2023 are up by approximately +29%, compared to the same period last year.
Budget 2023
The Management of the Company, taking into account the excellent start of the year, estimates that in 2023:
• Sales will increase by +15%.
• The gross margin could formed at 54%
• If the estimated sales forecast is confirmed, Group profits are estimated to be between €270 million and €275 million in 2023.
Furthermore, in the first quarter, the Company paid extraordinary cash distribution of €1.1550 gross per share equal to the amount paid in 2022.
The Company, taking advantage of its strong and healthy financial position, considers that it is in its best interest at this time to proceed with the prepayment of the entire joint bond loan of EUR 200m, issued in 2018 and due in 2026 without any charge or other cost.< /p>
The company intends to proceed in the immediate future with the legal procedures – formulations by its competent bodies in order to complete the process before the next interest period (May 2023).
On the 31st December 2022, the JUMBO Group numbered 83 stores:
• 53 in Greece,
• 5 in Cyprus,
• 9 in Bulgaria,
• 16 in Romania.
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In addition, the online store www.e-jumbo.gr operates in Greece and Cyprus.
For 2023 it is expected to operate:
• A leased super-store in the city center Plovdiv, Bulgaria
• A privately-owned hyper-store in the city of Iasi, Romania
• Also expected to start operation of the online store in Romania.
• Regarding the new hyper- store in Cyprus, expected to be operational towards the end of 2023 or during the first quarter of 2024.
Through partnerships, the Group has a presence with 33 stores bearing the JUMBO brand, in 7 countries (Albania, Kosovo , Serbia, North Macedonia, Bosnia, Montenegro and Israel).
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