Q3 2024 Financial Report: Purcari achieves strong +19% YoY increase in 9M 2024 Gross Profit with a 33% EBITDA margin
Purcari Wineries PCL (“Group”, “Company”), CEE’s leading wine producer, announced today its financial results for the 9 months of 2024. The Group’s revenue rose 4% to RON 262 million, driven by 14% growth in the core wine segment for 9M 2024 YoY, while the waste recycling segment was discontinued.
The Group achieved solid results, with the core wine segment growing 17% YoY in Q3, setting a strong pace for the year-end. The discontinuation of Ecosmart business, as well as early gains from cost optimization, boosted the Gross profit margin by 6 percentage points to 47% for 9M 2024, while EBITDA and Net Profit margins surpassed guidance at 32.8% and 16.6%, respectively.
In agriculture, challenging weather conditions led to reduced grape harvests across Moldova, Romania, and Bulgaria. However, robust inventories from previous vintages support the company’s 2025 growth plans; moreover, measures have been put in place to mitigate potential margin impacts.
“We’re pleased with the solid growth this quarter, particularly the 17% increase in our core wine segment”, said Victor Bostan, CEO of Purcari Wineries. “As we look forward, our mid-term strategy “2X by 200” outlines a clear path to doubling our business by 2027, the year of our 200th anniversary. With top talent and strategic focus, we’re confident in our ability to build on this legacy for years to come.”
The Report and other related financial materials can be accessed here.
