1H 2024 Financial Report: Purcari EBITDA grows 38% and Net Income 44% in 2Q 2024

Purcari Wineries PCL (“Group”, “Company”), CEE’s leading wine producer, announced today its financial results for the first semester of 2024. The Group’s revenue increased by 3% to RON 165.9 million, driven by a 12% growth in the core wine segment for 1H YoY, while the waste recycling segment was discontinued.

Sales growth coupled with improved cost structure of packaging components and bulk wine spurred EBITDA and Net Profit to reach RON 55.3 million and RON 29.3 million, respectively. Relative profitability improved significantly, with an EBITDA margin at 33% and a Net Profit margin of 18% in the first six months. EBITDA and Net Income expanded at an accelerated pace, up 38% and 44%, respectively in 2Q24. For 1H24, EBITDA and Net Income rose 24% and 15%, respectively. Normalizing for the discontinued Ecosmart business, thus excluding those profits from the reporting, the EBITDA rose 20% and Net Income 8% in 1H24.

“We delivered a robust quarter, with our core wine segment rising 12% in sales in the first half of the year. We are pleased to report improved profitability, with our Gross Profit margin reaching 51% in the second quarter. Despite the challenging consumer sentiment in our regions, we remain confident in the resilience of our business model and are committed to delivering value and growth to our stakeholders”, said Victor Bostan, CEO of Purcari Wineries.

The Report and other related financial materials can be accessed here.