The final results for 2024 confirmed the positive consumer response to the stable combination of price, service, and quality offered by JUMBO stores across all countries of operation.

However, as 2025 unfolds, the retail sector faces continuous and profound transformation that — regardless of final political decisions — are expected to drive a rebalancing of supply chains, national economies, and local markets.

While sales for the first four months of the year appear encouraging, it is important to note that they were influenced by the earlier celebration of Easter (April 20^thcompared to May 5^th  in 2024). Therefore, the period is not directly comparable with last year, given that it ended two weeks earlier and did not fully stimulate demand for summer-related goods.

Considering the above, Jumbo believes it is best to evaluate the Group's comparative performance after the first half of the year.

JUMBO's management remains optimistic about the future, while maintaining a highly cautious stance against any factor that could impede the Group's progress.

Financial Highlights:

• Sales: Group sales increased by 6,33% compared to 2023, reaching EUR 1.149,87 million.
• Gross Profit Margin: Remained fairly stable at 55,61%, compared to 55,77% in 2023.
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization rose by 6,6% to EUR 424,55 million from EUR 398,10 million in 2023.

Excluding the insurance compensation, EBITDA amounted to EUR 413,77 million, up by +3,9%. The rise in operating expenses is mainly attributed to the planned operation of new stores, salary increases, and the launch of new logistics facilities in Romania.

• Net Income: Group net income reached EUR 320,10 million, compared to EUR 303,00 million in 2023, an increase of +5,64%.

In 2024, the Company received EUR 10,79 million as insurance compensation for its stores in Larissa and Karditsa, which had remained closed due to the unprecedented floods of September 2023. Effective insurance coverage and the professionalism of our partners enabled the full reopening of the stores in nine months, ensuring continued service to thousands of consumers in the affected areas.

Liquidity

As of December 31, 2024, cash and cash equivalents exceeded total loan obligations and lease liabilities by EUR 372,51 million, compared to EUR 370,41 million as of December 31, 2023.

Total shareholder distributions for 2024 amounted to 1,60 EUR per share (gross) or EUR 217,7 million before withholding tax.

The Company started its Share Buyback Program. As of December 31, 2024, it held 938.787 shares (representing 0,69% of total shares) with an investment of EUR 23,67 million at an average acquisition price of EUR 25,21 per share.

As of today, the Company holds 1.694.198 shares (representing 1,25% of total shares), having invested EUR 43,07 million at an average acquisition price of EUR 25,42 per share, for the same purpose. The treasury stock will be cancelled at the upcoming Annual General Meeting.

• Management considers the share buyback program rewards shareholders in an inflationary environment, allowing them to increase their indirect stake in the Company without additional cash investment

In addition, during Q1 2025, JUMBO paid an extraordinary cash distribution of EUR 63,50 million or 0,4725599412 EUR per share (gross).

Store Network

The JUMBO Group currently operates 89 stores: 53 in Greece, 6 in Cyprus, 10 in Bulgaria, and 20 in Romania.

• Greece: Target is for one new store every three years. 
• Cyprus: Two additional hyper-stores will be added over the next five years, one in Larnaca and one in Protaras.
• Bulgaria: A new hyper-store and selling land plots not intended for store development, over the next 2-3 years.
• Romania: to expand the network by adding of 1 to 2 hyper-stores annually.

The Company will also establish two new distribution centers:

1. In Thessaloniki, enhancing distribution efficiency for Northern Greece and Bulgaria.
2. In Oinofyta, for the rest of Greece and international markets.

The investment in the two distribution centers is expected to exceed EUR 60 million and will be completed within the next 3 to 5 years.

The Group also operates online stores in Greece, Cyprus, and Romania, with a Bulgarian online store expected to launch in 2025.

Through partnerships, the Group currently has a presence with 40 branded stores in 7 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro, and Israel).

In early April, the third JUMBO hyper-store opened in Israel. By the end of 2025, two more hyper-stores are expected to open, bringing the total to five.