The financial year that ended in June 30^th, 2015 recorded a significant increase in the turnover and profitability of the Group. 

Sales exceeded EUR 582,55 million compared to EUR 541,85 million of the previous 12 months. The increase in turnover by + 7.51% y-o-y exceeded significantly the target of 4% -6% that had been set at the beginning of the financial year.

During the financial year July 2014- June 2015, the Group operated 7 new hyper- stores: 2 in Greece, 1 in Cyprus and 4 in Romania. During the same period, the leased store in Aspropyrgos terminated its operation.

Today, the Group's network has 72 stores, 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 6 in Romania and the on line store e-jumbo.

Despite the strengthening of the Dollar against the Euro, gross margin reached 53.16% against 53.12% of last year. This result is partly due to the product mix and the decrease in freight rates.

EBITDA, at Group level, reached EUR 159,26 million from EUR 146,52 million of the last fiscal year, implying an increase of +8,7% y-o-y.

Respectively, the net earnings for the Group reached EUR 104,84 million from EUR 101,25 million, increased by +3,54% y-o-y.

Managing the new conditions

The new fiscal year that started on July 1^st, 2015, was marked by the imposition of capital control in Greece, still effective currently. On July 28^th discussions on the drafting of a new financial aid program started and on August 14^th the Eurogroup agreement was endorsed.  Also, in August 2015, early elections were announced for September 20^th, 2015. 

During a difficult period for the Greek economy, in time of great uncertainty, the Group was timely prepared in time to have sufficient reserves to cope with the initial shock. Also, the Group's companies were sufficiently capitalized, with no liquidity problems and zero debt.

Despite the obvious difficulties, Jumbo during the new fiscal year will focus on Greece aiming at the restructuring of the network based mainly on increasing productivity. This includes the replacement of small first generation stores with new hyper stores in areas that the Group still has no presence.

Regarding Romania, in October it is expected the opening of the seventh hyper-store at Pitesti (12.000sqm). It is noted that Romania is the county that the Group will focus its investment plan at the following years.

The management due to capital controls in Greece will propose at the Annual General Meeting of the shareholders that will be held at 11.11.2015 the non-dividend distribution for the fiscal year ended at 30.06.2015 and this will apply until the economy stabilizes and create prospects for smooth growth in Greece.