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Jumbo (BELA) investor relations material
Jumbo H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Sales grew 8% year-over-year in H1 2025 to €497 million, with EBITDA up 7% to €165 million and net profit up 5% to €117 million.
Dividend payouts of €0.4667/share in March and €0.50/share in July, with total 2025 cash distributions to shareholders reaching €131.5 million.
Store network expanded to 89 stores, including a new hyperstore in Timișoara, Romania, and the launch of an online store in Bulgaria.
Share buyback program led to cancellation of 1.69 million shares (1.25% of total) in August 2025.
Net cash position remained robust at nearly €318 million as of June 2025.
Financial highlights
Gross margin declined to 53.86% in H1 2025, impacted by higher franchise sales and VAT increases.
Regional sales growth: Greece +9%, Cyprus +7%, Bulgaria +2%, Romania +8% in H1 2025.
Franchise sales surged 52% to €38 million; e-commerce accounted for 2.3% of group sales.
CapEx for H1 2025 at €14 million; full-year guidance below €60 million.
Free cash flow for H1 2025 was €19.6 million; net cash from operations at €34.6 million.
Outlook and guidance
Full-year sales growth targeted at 8%, with Christmas season as a key driver.
Net income expected to be in line with 2024 organic levels, excluding insurance proceeds.
CapEx for 2025 expected below €60 million; dividend policy remains at one-third of consolidated profits.
Ongoing investments in ERP modernization, cybersecurity, AI tools, and two new distribution centers (investment exceeding €60 million over 3-5 years).
Target to reduce Scope 2 greenhouse gas emissions by 7.5% by 2030 at Group level.
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