Purcari Wineries PLC has posted a 16% year-on-year increase in revenue to RON 123.9 million (€25.4 million) in the first half of its financial year.
EBITDA and net income margins reached 31% and 17%, respectively, in this period amid inflationary pressures.
In the second quarter, the Moldovan winemaker saw 19% revenue growth.
Victor Bostan, CEO of Purcari Wineries, commented, “Our strong results are a good illustration of how resilient our business is, also in light of economic and inflationary pressures. People continue to appreciate our wines as an affordable luxury.
“Many of our wines score among the top 1% globally on Vivino, yet sell at a fraction of prices charged by some big-name Chateaux or Casas. Truly great wines don’t have to be prohibitively expensive, and our consumers learned to appreciate them. We will continue working hard to keep delighting them.”
Geographical Performance
In Romania, Purcari Wineries posted 7% revenue growth in the first half, with a good performance by its Crama Ceptura brand.
The company also benefitted from the strong performance of the HoReCa-only Nocturne series, while Bardar brandy saw strong growth in this period.
In Moldova, the company reported 44% growth in revenue as part of post-COVID-19 recovery with all brands delivering strong performance in terms of value and volume.
Revenue increased by 10% in Poland, with Purcari sales doubling on a year-on-year basis.
In Asia, the company reported 30% growth in sales, with a good performance by all brands.
Purcari Wineries resumed sales in Ukraine in the second quarter on a 100% prepayment basis. Sales in the first half dropped 3.5 times compared with the same period last year. The company has retained its local team in the country.
© 2022 European Supermarket Magazine – your source for the latest drinks news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.