This year, Carnival was celebrated earlier in Greece and Cyprus compared to last year. As a result, February 2025 sales, in Greece and Cyprus, grew significantly relative to Romania and Bulgaria. 

• JUMBO Group's sales in February 2025 increased by c. 19% y-o-y, primarily due to the strong seasonality of sales in Greece and Cyprus. This year, Carnival was celebrated on March 2nd, whereas last year it was on March 17^th.
• Overall, in the first two months of 2025, the Group's sales recorded an increase of c. 15% y-o-y.

Management advises investors, not to extrapolate in any way, the current performance for the full year (2025), given the strong seasonality of sales as above mentioned. 

 

In addition, data from the first ten days of March indicate that sales are adjusting downwards due to the seasonality of the period. 

 

• The strong seasonality of the early months of the year, combined with the volatile international environment, makes it challenging to provide a forecast for 2025.

 

A preliminary estimate for 2025 would be more useful after the first four months of the year, when the situation may become more interpretable.

 

Sales performance by country: 

 

Greece

In February 2025, the net sales of the parent company - excluding intragroup sales – increased by c. 26% y-o-y. 

 

Overall, for the first two months of 2025 the net sales of the parent company - excluding intragroup sales – increased by c. 21% y-o-y.

 

Cyprus

The network's sales increase by c. 27% y-o-y in February 2025. Overall, for the first two months of 2025 the network's sales increased by c. 16% y-o-y

 

Bulgaria

Compared to the same period last year, total network sales in Bulgaria in the first two months of 2025 were flat.

 

Romania

The network's sales (including the on-line store www.e-jumbo.ro  increased by c. 3% y-o-y in February 2025. Overall, for the first two months of 2025 the network's sales increased by c. 4% y-o-y.

 

• It should be noted that the second owned hyper store is expected to open this week in Timisoara, Romania, bringing the total number of Jumbo stores in the country to 20.

 

Extraordinary General Meeting for a cash distribution

 

The General Meeting of Shareholders scheduled for 19 March 2025 will approve the extraordinary cash distribution, from extraordinary reserves from taxed and undistributed profits of the previous year, of a gross amount of EUR 63.499.089,53 or EUR 0,4667 per share (out of 136.059.759 nominal shares of the Company).

 

The final amount of the extraordinary cash distribution per share will be adjusted upwards to account for the number of treasury shares on the record date, since treasury shares are not entitled to an extraordinary cash distribution payment and the extraordinary cash distribution amount corresponding to the treasury shares increases the amount of extraordinary cash distribution per share distributable to the remaining shares.

 

If the General Meeting of Shareholders approves the payment of the extraordinary cash distribution, the cut-off date of the right will be at 24 March 2025.

 

The record date will be 26 March 2025. The payment date of the extraordinary cash distribution will be 31 March 2025.