Financial Results Q1 2025

Purcari Wineries PCL (“Group”, “Company”), CEE’s leading wine producer, announced today its financial results for the first quarter of 2025. Group revenue reached RON 91.1 million in Q1 2025, a 12% increase versus Q1 2024, despite a higher comparable base, which included RON 5 million in sales from the now-discontinued Ecosmart business. On a comparable basis, excluding Ecosmart, the revenues expanded by 18%. EBITDA rose to RON 23.9 million in Q1’25, a margin of 26%. Adjusted EBITDA, factoring in accounting changes on the accrual of stock-based compensation, has grown by 12% year on year, with a 29% margin.

“We are pleased with our performance in Q1, especially given the volatile environment. Our focus on brand equity, disciplined pricing, and operational agility is delivering results. In the meantime, we have continued to invest in further developing our assets and capabilities. With strong foundations and new partnerships underway, we remain confident in meeting our full-year targets and mid-term objectives.”, said Alexandru Filip, CEO of Purcari Wineries.

Preliminary Financial Results 2024

Purcari Wineries PCL (“Group”, “Company”), CEE’s leading wine producer, announced today its preliminary unaudited financial results for 2024. The Group’s revenue rose 3% to RON 382.5 million, driven by the 13% growth in the core wine segment YoY. Ecosmart, the Group’s waste recycling segment, which generated RON 30 million in revenue in 2023, has been discontinued.

Prioritizing profitability over volumes, with a focus on sustainable growth and premiumization, EBITDA and Net Profit reached RON 107.5 million and RON 57.4 million, respectively, including a one-off RON 4.6 million cost related to the Ecosmart deconsolidation. Margins reached 28% and 15%, in line with announced guidance.

The gross profit margin rose to 51% in Q4, up 7 pp vs. previous year, resulting in an annual margin of 48%, driven by a favorable sales mix, including lower-cost bulk wine from the 2022–2023 vintages, reduced packaging costs, and strong results from premiumization initiatives.

“This past year was pivotal for Purcari, laying the foundation for the Group’s sustainable growth. We completed the CEO transition, strengthened our leadership team, and adopted the ‘2X by 200’ strategy set out to double our business by 2027 — our 200th anniversary. We also made key strategic investments to reinforce our growth trajectory.

Operationally, we delivered strong results, with the gross margin approximating 50%, confirming both the commercial appeal of our products and our production excellence. At the same time, our 2024 results also reflect several one-off costs related to building the fundamentals for future growth, the deconsolidation of Ecosmart, and specific tax treatment adjustments derived from the change of auditors. Adjusted for deconsolidation costs, EBITDA and Net profit reached RON 112 million and RON 62 million, respectively.

Looking ahead, we remain committed to strengthening our core business, leveraging our strong brands, expanding into new markets, and diversifying our product portfolio to drive sustainable revenue growth,” said Alexandru Filip, CEO of Purcari Wineries.

Financial Results Q3 2024

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.” 

Financial results H1 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.