In the company's financial figures, the entry into the Turkish market from the end of 2026 via e-shop, discussions on cooperation with Balfin Group and in its markets Canada and Romania, focused among others on the head of Jumbo, Apostolos Vakakis, in the context of the teleconference with analysts.
On the question of discussions with Balfin Grou p On the extension of the franchise agreement to more countries, Mr Bakakis stressed that Balfin was in the mood to investment in infrastructure, to expand to new countries. It is an immature attempt, he said, we are in a process and we are discussing signing a franchise agreement when we see benefits. He talked about new warehouses in China I would like to thank the rapporteur for his excellent report.
About pop stores up, i.e. smaller-scale shops, which can be developed within successful malls, said that it is a new attempt that we have begun to study for the Canadian market, there we will see this new concept and possibly spread it to all the countries we have.
For its purchase Canada, where the first store is expected to open in early 2027, stressed that the supply will be made from the warehouses in Greece.
«It's too early to talk about Turkey»
Answering questions about the company plan for online store operation in Turkey By the end of 2026, he admitted that Turkey is a very difficult market and needs enough preparation to enter, but stressed that Jumbo will not operate with stress, since they want to «swim in calm waters». «In 2026 we'll fly under radar and weigh things. We don't have numbers in our budget for our activity in Turkey»Mr Bakakis, who stressed that they would study the Turkish market in which they want to build a presence in the long term and gain market share.
«We don't know what's going on in Turkey at the moment we're exploring»He said. I will only express a personal thought that the Turks are willing to pay more than the European for one product, having many children. But for us, it's too early to talk about Turkey.», fill in.
What he said about Romania – Action
For its purchase Romania, she was the only one who recorded fall of 4%, mainly because of the devaluation of the currency, the recent increase in VAT and the new financial measures, which are limited to Jumbo's activity, noted that «If you ask me personally, I have great confidence with RomaniaThe problems will be solved. Depending on the macroeconomic environment, we will also adapt to the market. At another point he said, that part of CAPEX It takes us to distribution centers, one of them in Romania, where Jumbo plans to increase its stores in the coming years.
However, it also gave answers, following a Citi analyst's question, to competition and specifically to the Dutch chain. Action appearing as a potentially strong competitor of Jumbo. «Nobody really questions our strategy, except perhaps some analysts who want to promote other companies, which is their right. However, one should wonder about these companies: what is their estimate today? Are they developing or slowing down?» He said.
«Penguin effect»
In response to several questions he received about profit marginsMr Vakakis stressed that «Everything is unstable in 2026, we don't know what's going to happen with interest rates, with parity, with war. We're always honest.». He stressed that the discussion of profit margins is for him. Very «intellectual».
He completed, referring to the philosophy of Jumbo and himself, how born «chicken» and plans to die «chicken». «The company avoids being the first to «enters the water», and «The possibility that the hungry whales will devour us is too great.». «We don't want to be bold or heroic. We want to be if you want simple and careful, and get in the water when the whales are already full», noted, describing what he calls «Penguin phenomenon».
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