Jumbo Group sales up by nearly 20% in 2021

Jumbo Group

Jumbo Group on Tuesday said its 2021 sales rose 19.87%, totaling 832 million euros.

EBITDA jumped 46% to 305 million euros compared with 2020, while gross profit margin rose to 55.7% in 2021 from 51.8% in the previous year.

Jumbo Group said it continued its investment program and it expected to launch its new super-store in Mytiline on March 18 and another super-store in Cyprus during the year.

It is also expected to launch new stores in Romania in 2022.

The Group said its February sales were up 28% and up 4.5% in the first two months of the year, after a 14% decline in January.

Meanwhile, the consequences of the war in Ukraine are particularly painful for the Greek economy, exacerbating an already negative climate on the inflation front, which is negatively affecting households and businesses.

In the face of this grim situation, the government is trying to find effective tools to mitigate, as far as possible, the impact on the economy.

Finance Μinister Christos Staikouras stated to AMNA that "the Greek government is already doing, and will continue to do, its best to reduce the negative consequences of high prices."

The minister stressed that "the Greek economy, following the release of 2021 figures, showed great resilience as well as strong and sustainable dynamic."

However, he stated that all this is affected by the new - global - environment of high uncertainty and insecurity.

An environment that requires composure, confidence, prudence and determination.

In this environment of increased challenges, mainly the huge increase in energy costs, the Greek government is already doing, and will continue to do, its best to reduce the negative consequences.

Christos Staikouras stated:

- The government will continue to subsidize electricity and natural gas bills.
- It will further reduce the Uniform Real Estate Ownership Tax (ENFIA) in order to support the disposable income of the vast majority of citizens, mainly of the lower income ones.
- It will increase, for the second time this year, bravely but realistically, the minimum wage.
- It will proceed in the coming weeks, depending on the budget execution and the potential fiscal space, to an additional support for our weak fellow citizens.
- Finally, it will seek, at European level, new "lines of defence", for additional support to households and businesses.

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