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EST: 1986


OFFICES: 9 Kyprou & Idras

P.C. 183 46

CITY: Moschato


TEL: 210 48.05.200

FAX: 210 48.05.212



PRESIDENT: Apostolos Vakakis



The name Jumbo is considered synonymous to the Greek games market; a name which dozens of stores selling toys and seasonal items bear. Behind this successful network is Mr. Apostolos Vakakis who has a long history in the game industry as it was his family who created the company El Greco. Mr. Vakakis, realizing the gradual dominance of multinationals in the market, started the creation of the Jumbo chain by inaugurating its first store in 1986.

Within 25 years of operation, the company has evolved into one of the largest retailers controlling a network of 52 stores of which 44 are in Greece, 3 in Cyprus and 5 in Bulgaria. On June 30, 2011 the group employed 3.457 people, including 3,326 permanent employees and 131 temporary staff, while the average number of staff for the closing year i.e. from 01.07.2010 to 30.06.2011 stood at 3.643 people (3.168 permanent employees and 475 temporary staff).

In recent years the group has developed significant activity outside the Greek borders, resulting in the abroad stores providing approximately 15% of the total turnover. Indeed the international investment project continues, with the subsidiary “Jumbo EC.B” having 5 stores in Bulgaria - 3 in Sofia, one in Plovdiv and one in Varna - on 30.06.2011, while in July 2011 the company initiated the operation of a store covering an area of 18.000 m2 in the town Burgas. Also, by the end of the fiscal year 2011/2012, another company owned store - sized approximately 12.000 m2 - is expected to start operating in Sofia as well as another one of the same size in the city Russe.

In Cyprus, the subsidiary Jumbo Trading Ltd currently brandishes 3 stores in Nicosia, Larnaca and Limassol respectively, while the management’s goal is the operation of another superstore in the next fiscal year of 2012/2013.

In Romania, the group has acquired a total land area of 47,000 m2 in Bucharest for future exploitation. In addition, the company has contracted a commercial cooperation agreement with the firm Kid Zone in Albania. According to this contract, JUMBO SA will sell its products to the company Kid Zone, which in turn will make them available to consumers through a shop bearing the name Jumbo in the mall Tirana East Gate (TEG). The store is expected to open in late November of 2011.

The company’s management is constantly seeking opportunities for expansion (independently or through collaborations) in neighboring countries. In this context JUMBO SA signed a contract of cooperation with an independent company Veropoulos Dooel. Veropoulos Dooel retains in FYROM a shopping center that houses supermarkets, retail companies, apparel and accessories shops, catering and entertainment stores as well as recreation facilities. Under this contract, JUMBO SA will sell its wares to Veropoulos Dooel, which then will make them available through a store under the name of Jumbo in its shopping center.

In the FY of July 2010-June 2011, the group’s turnover reached 489.97 million euros, showing growth despite the recession compared with the 487.33 million last year. Earnings before interest, taxes, depreciation and amortization dropped to 135.15 million from 144.73 million euros in the prior year while EBITDA margin fell to 27.58% from 29.70%. Net profit after tax amounted to 77.50 million compared with 61.82 million of the corresponding period last year, increased by 25.36%. Net profit after taxes for the two fiscal years are not comparable as the net profit after tax of the fiscal year 01.07.2009-30.06.2010 bore the sum of two special contributions.

Greece corresponded to 85.36% of the group’s turnover in the FY of 01.07.2010-30.06.2011 and contributed the 83.13% of EBITDA. For the corresponding previous FY, Greece accounted for 88.32% of the turnover and had contributed 85.96% to EBITDA.

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