In This Article:
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Sales: Increased by 6% year-over-year, reaching EUR1.15 billion.
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Gross Margin: Stable at 55.6%.
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EBITDA: Rose by 7% to EUR425 million.
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Adjusted EBITDA: Up 4% to EUR414 million.
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Net Profit: Increased by 6% to EUR320 million.
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Net Cash Position: EUR372.5 million.
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Total Cash Distribution: EUR218 million.
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Share Buyback: Acquired almost 940,000 shares at an average price of EUR25.21 per share, investing almost EUR24 million.
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Store Expansion: Three new hyper stores opened in 2024; two in Romania and one in Cyprus. Reopened two stores in Greece.
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Total Stores: 89 stores across four countries.
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Q1 2025 Sales: Up by 8% year-on-year.
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Extraordinary Distribution: EUR63.5 million paid in Q1 2025.
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Future Store Openings: Planned expansions in Greece, Cyprus, Bulgaria, and Romania.
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Logistics Investment: EUR60 million for two new distribution centers in Thessaloniki and Oinofyta.
Release Date: April 29, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Jumbo SA (JUMSY) reported a 6% year-over-year increase in sales, reaching EUR1.15 billion for 2024.
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The company's EBITDA rose by 7% to EUR425 million, indicating strong operational performance.
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Jumbo SA (JUMSY) expanded its store network with three new hyper stores in Romania and Cyprus, and reopened two stores in Greece.
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The company maintained a strong net cash position of EUR372.5 million, providing financial flexibility.
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Jumbo SA (JUMSY) executed a share buyback program, acquiring 940,000 shares, demonstrating a commitment to returning capital to shareholders.
Negative Points
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The company faces uncertainty due to global market rebalancing, impacting supply chains and trade dynamics.
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Jumbo SA (JUMSY) expressed caution regarding dividend payments, preferring to utilize funds for strategic opportunities.
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The company is wary of potential competitive threats, such as the entry of Dutch retailer Action into the CEE region.
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There is a risk of increased competition and market saturation in Romania, where the company plans further expansion.
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Jumbo SA (JUMSY) is concerned about the ongoing geopolitical tensions, particularly in Israel, which could impact operations.
Q & A Highlights
Q: Given the recent escalation in US tariffs on Chinese imports, do you see any opportunities for Jumbo in terms of sourcing or pricing leverage with Chinese suppliers? A: Yes, there are potential opportunities, but we are cautious as we are at the beginning of a significant market rebalancing involving products, currencies, and supply chains. It's too early to predict the exact impact.