Jumbo S.A. — Earnings Release 2025

Apr 28, 2026

JUMBO

Net profit of EUR 320 million for 2025

Dividend distribution of 0,70 EUR per share

The JUMBO Group completed fiscal year 2025 with record sales of EUR 1,23 billion and net profit of EUR 320 million, while simultaneously increasing the cash distributions to shareholders in 2026 by approximately +20% compared to 2025.

The Group's overall financial performance confirms the stability and resilience of its business model.

Key Financial Figures 2025

• In 2025, Group sales increased by +7,22% y-o-y, reaching EUR 1.232,90 million.
• Gross profit margin stood at 54,72% versus 55,61% in 2024. The 89 basis points decrease is attributed to higher sales generated through external partners (franchises) on a year-on-year basis, which yield lower margins.
• EBITDA amounted to EUR 436,40 million, marking an increase of +5,47% y-o-y on a comparable basis.
• Net profit reached EUR 320,10 million, up by +3,56% y-o-y on a comparable basis.

The Group continues to operate without bank borrowing, maintaining strong liquidity.

As of December 31, 2025, cash and cash equivalents exceeded total borrowings and lease liabilities by EUR 473,21 million, compared to EUR 372,51 million as of December 31, 2024.

Outlook for 2026

In an environment of heightened geopolitical and macroeconomic challenges, JUMBO remains committed to its strategy, maintaining a strong balance sheet, high liquidity, and disciplined growth, creating value for shareholders and ensuring long-term sustainability.

For 2026, management expects sales growth of approximately 5% and net profit in the range of EUR 310–320 million.

Shareholder Distributions

During the first quarter of 2026, JUMBO paid an extraordinary cash distribution of EUR 63,50 million, or EUR 0,50 gross per share.

• The Board of Directors will propose to the General Meeting the distribution of a dividend of EUR 94,06 million, or EUR 0,70 (gross) per share.

Subject to approval by the General Meeting, total shareholder distributions will amount to EUR 157,56 million in 2026, compared to EUR 131,5 million in 2025, representing an increase of approximately 20%.

Reinvestment in the JUMBO Model

JUMBO systematically allocates its available capital to strengthen its business model.

The Group consistently reinvests in its operations, with a focus on acquiring leased stores where commercially and financially appropriate.

• In 2025, the Group acquired 3 stores in Greece.

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JUMBO

Targeted Network Expansion

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

The strategic objective is to establish a strong regional presence in Southeastern Europe, with an average addition of approximately 2 hyper-stores per year. A strong balance sheet, zero bank debt, and high liquidity remain key pillars.

• Greece: at least 4 new hyper-stores over the next three years.
• Cyprus: 2 new stores in the medium term.
• Bulgaria: 1 new hyper-store within two years.
• Romania: new store in Baia Mare within 2026; long-term goal is to double stores within 10 years.

E-commerce and Digital Presence

The Group operates e-commerce platforms in Greece, Cyprus, Bulgaria, and Romania, and continues to invest in improving the customer experience by leveraging existing infrastructure.

Expansion of digital presence into new markets is also under consideration, with the aim of launching an online store in Turkey towards the end of 2026.

Investments in Infrastructure and Logistics

Strengthening infrastructure is a key strategic priority. In this context, JUMBO has pre-agreed the acquisition of a Giga distribution center (60,000 sqm) in Romania to optimize supply operations in the country. Additionally, the Group is developing two more distribution centers:

• in Thessaloniki (completion in 2027, serving Northern Greece and Bulgaria), and
• in Oinofyta (completion within 2–3 years, serving Greece and international operations).

These investments will enhance capacity, improve store efficiency, and create the necessary infrastructure to support the Group's regional expansion. Total investments in distribution centers are expected to exceed €95 million over the next three years.

External Partnerships and International Presence

Through partnerships, the Group currently operates 45 JUMBO-branded stores in 7 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro, and Israel).

Fox Group, which holds the exclusive JUMBO franchise in Israel and Canada, plans to expand its network in Israel by 3–4 stores in 2026. The first JUMBO store in Canada is expected to open in Toronto in early 2027, subject to no delays.

Management continuously evaluates business proposals for potential partnerships outside the Eurozone and is currently in discussions with the Balfin Group, which has expressed strong interest in expanding the franchise agreement to additional countries.

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OUMB

Earnings before interest, taxes, depreciation and amortization (EBITDA)

Amounts in mil. €	The Group		The Company
	01/01/2025-31/12/2025	01/01/2024-31/12/2024	01/01/2025-31/12/2025	01/01/2024-31/12/2024
Earnings After Tax	320,31	320,10	252,94	254,11
Taxes	74,80	70,17	54,69	50,00
Interest	(1,93)	(6,77)	1,55	(0,64)
Depreciation	43,22	41,06	24,31	23,19
Earnings before interest, taxes, depreciation and amortization (EBITDA)	436,40	424,55	333,49	326,66
Adj. Earnings before interest, taxes, depreciation and amortization (EBITDA)*	436,40	413,77	267,49	245,88
Investment results	(0,74)	(1,79)	(66,08)	(70,15)
Earnings before interest, tax, investment results, depreciation and amortization	435,66	422,77	267,41	256,51
Adj. Earnings before interest, tax, investment results, depreciation and amortization *	435,66	411,98	267,41	245,72
Turnover	1,232,90	1,149,87	996,11	916,70
Margin of Earnings before interest, tax investment results depreciation and amortization	35,34%	36,77%	26,85%	27,98%
Adj. Margin of Earnings before interest, tax investment results depreciation and amortization*	35,34%	35,83%	26,85%	26,80%

Note

The term EBITDA refers to earnings before interest, taxes, depreciation and amortization and alongside with the Earnings before interest, tax, investment results, depreciation and amortization Margin, they constitute the ratios of measuring the Company's and the Group's operational performance.

• Refers to the adjustment for the € 66,00 million from dividend income received by the Company during the financial year 01.01.2025–31.12.2025, for the € 10,79 million from insurance compensation recognized by the Company during the financial year 01.01.2024–31.12.2024, the € 70,00 million from dividend income received by the Company during the same year.

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OUMB

NET DEBT

	The Group		The Company
Amounts in mil. €	31/12/2025	31/12/2024	31/12/2025	31/12/2024
Short-term loan liabilities	-	0.13	-	-
Long-term lease liabilities	58.34	67.55	47.09	53.99
Short-term lease liabilities	8.10	7.63	6.39	5.83
Short term restricted bank deposits	(2.97)	(3.00)	-	-
Cash and cash equivalents	(536.67)	(444.82)	(180.57)	(159.16)
Net Debt	(473.21)	(372.51)	(127.09)	(99.34)

Note

The net debt for the Company and the Group, the total lease liabilities and borrowings after deducting the amount of cash and cash equivalents and other current financial assets and is used by the Management of the Company and the Group as a measure of liquidity.