On one hand in February 2024 sales in Greece and Cyprus were slightly lower y-o-y due to the shifting of the Carnival celebration, while on the other sales grew double digit in Romania and Bulgaria.

It is an undeniable fact, and as painted by the sales trading over the first ten days of March, consumers maintain their shopping habits and continue to choose the price/quality relationship as offered by Jumbo.

• Management reiterates its full-year sales and earnings growth estimate of 8% to 10%

Due to the strong seasonality of sales in Greece and Cyprus, whereby the Carnival celebration has shifted back on 17 March this year (26 February last year), Jumbo Group's sales in February 2024 were down by around -3% compared to the same month last year.

• over the  first two months of 2024, Group's sales were flat.

In the meantime, the Jumbo Group continues to pursue its customer-focused strategy, by refusing to supply situationally overpriced products.

The Jumbo Group insists on keeping product prices in line with the buying capabilities of the consumer and hopes that ending of the Ramadan will bring a de-escalation of tensions in the Red Sea.

Sales performance by country:

Greece: 

In February 2024, the net sales of the parent company - excluding intragroup sales – decreased by c. 8% y-o-y, since Carnival related sales were booked last February.

Overall, for the first two months of 2024 the net sales of the parent company - excluding intragroup sales – decreased by c. 3% y-o-y.

Cyprus:

The network's sales decreased by c. 12% y-o-y in February 2024, since last year Carnival-related sales were booked accordingly.

Overall, for the first two months of 2024 the network's sales decreased by c. 7% y-o-y.

Bulgaria

The network's sales increased by c. 13% y-o-y in February 2024. Overall, for the first two months of 2024 the network's sales increased by c. 11% y-o-y.

Romania

The network's sales (including the on-line store www.e-jumbo.ro) increased by c. +15% y-o-y in February 2024. Overall, for the first two months of 2024 the network's sales increased by c. 13% y-o-y.

Payment of extraordinary cash distribution

As announced, the Extraordinary General Meeting of Jumbo Group's shareholders has approved the management's proposal for an extraordinary cash distribution of 0,60 EUR/share.

The cut-off date for the extraordinary cash distribution has been set as Tuesday 19.03.2024. The beneficiaries of the extraordinary cash distribution will be the shareholders of the Company registered in the securities system (S.A.T.) on Wednesday, 20.03.2024 (record date). The payment of the extraordinary cash distribution to entitled shareholders shall begin on Tuesday 26.03.2024.