Greek-retail group Jumbo this week reported a net profit of €117.18 million for the first half of 2025 and confirmed plans to open two new hyperstores in Cyprus over the next five years.

The company said the results “confirm the resilience and flexibility of the company’s business model”.

Despite a challenging international environment marked by supply chain delays, rising transport costs, inflationary pressures and tariff disputes, Jumbo said it continues to offer consumers “high-quality products at attractive prices while also delivering dividends to its shareholder partners”.

The group reported an approximately 8 per cent increase in sales for the period January to August 2025 compared with the same period last year.

Management said that if the annual growth rate remains at 8 per cent, there is a likelihood that net profits will stay at last year’s organic levels.

As every year, the company said, the Christmas trading period will be critical in determining whether the company can maintain its positive growth momentum.

In the first half of 2025, group sales rose by 8.01 per cent compared with the same period in 2024, reaching €497.28 million.

The gross profit margin stood at 53.86 per cent, compared with 55.27 per cent a year earlier.

Although the strengthening of the euro against the dollar may have a positive impact on purchasing costs, the company said that the benefit will be mostly reflected in the second half of the year.

Jumbo added that the increasing share of wholesale sales to franchise partners leads to a lower gross profit margin for the group, since these sales carry a lower margin compared with retail sales.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) reached €165.36 million compared with €164.68 million in the same period last year.

The company further stated that in the first half of 2024 it had benefited from €10.21 million in insurance compensation for its stores in Larissa and Karditsa, which had remained closed following severe flooding in September 2023.

Excluding the impact of the insurance compensation, group EBITDA increased by 7.05 per cent compared with €154.47 million in the first half of 2024, with the EBITDA margin remaining above 33 per cent.

Moreover, group net profit reached €117.18 million compared with €121.69 million in the same period last year.

On a comparable basis excluding insurance compensation, net profit was up by 5.11 per cent compared with €111.48 million in the first half of 2024.

As of June 30, 2025, cash and cash equivalents exceeded the total amount of loans and lease liabilities by €309.79 million, compared with €372.51 million as of December 31, 2024.

Additionally, total cash distributions to date amount to €131.5 million.

In 2024 and 2025 the company implemented a share buyback programme and held a total of 1,694,198 shares, representing 1.25 per cent, as of June 30, 2025.

On August 4, 2025, these shares were cancelled and delisted from the Athens Stock Exchange.

Jumbo currently operates 89 stores, including 53 in Greece, 6 in Cyprus, 10 in Bulgaria and 20 in Romania.

The group said that it aims to open an average of two new hyperstores per year, adjusting the pace of expansion according to market conditions and supporting its strategy through acquisitions of leased stores.

In Greece, two leased stores have been purchased so far in 2025, with the acquisition of another two leased stores expected to be completed soon.

The company also plans to develop one new store every three years in Greece.

The company also said that two new hyperstores will open in Cyprus within the next five years.

One new hyperstore is expected to be opened in Bulgaria within the next two to three years, while in Romania the pace of opening one new hyperstore per year will continue.

The group also said that it “continues to invest systematically in the development of its online store in every market where it operates, strengthening its presence in e-commerce”.

It is also said that it is “making significant investments in cybersecurity, artificial intelligence tools and the modernisation of its ERP system, aiming to improve the customer experience, enhance decision-making and boost operational efficiency”.

In addition, Jumbo announced that it is investing more than €60 million in two new distribution centres, which are expected to be completed within three to five years.

Finally, the company stated that the group also has a presence in a further seven countries through franchise partnerships, spread across 41 stores in Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro and Israel.