To: All shareholders of Purcari Wineries Public Company Limited
Date: April 27, 2023
Subject: Notice of Annual General Meeting of the Shareholders
Dear Purcari Shareholders,
We live in a challenging, volatile world, yet we maintain our upbeat outlook and continue focusing on things we can control For the past year, we have demostrated our resilience and adaptability to rapidly changing conditions.
Importantly, we continued doing all we can to help those who need it most, especially the hundreds of thousands of Ukrainian refugees fleeing to safety, of whom some thirteen thousand stopped at our Chateau, turned into a refugee camp overnight, and the help points we have set up on route from Odesa. We converted the rage stemming from this unjust aggression, but also the inspiration from the heroism we have witnessed, into extra energy in our markets and the numbers show it eloquently. We have grown our revenues by 22% in 2022 and achieved EBITDA and Net Income margins of 36.6% and 22.9%, respectively, significantly beating the start of year guidance.
Each AGM is an opportunity to continue building a strong foundation and corporate governance framework for future growth. This year is no exception. We will continue our tradition to accompany the Notice of Annual general Meeting of the Shareholders with a cover letter in plain English, to provide additional context and explanation to some of the key proposals we put for the vote to our shareholders, compensating for the dry legalese in which AGM notices are typically written in.
