“We continued investing during 2020, when many of our competitors froze and this is now showing in our results and the appreciation of our consumers. We feel good about where we stand at the beginning of 2021,” said Victor Bostan, Purcari CEO.
The company said margins grew ahead of revenues, primarily driven by a further improving mix, with EBITDA rising 13% to RON19.6 million and net income up 28%, to RON10.3 million, respectively. The group’s net debts decreased 9% in the first quarter compared with end-2020, to RON144 million.
On the local market, the group posted 19% growth in the first quarter. The group said its flagship Purcari brand lead growth with 29%, while Bardar doubled sales, albeit from a smaller base.
While modern trade channel continues to perform strongly, traditional retail sees a particularly strong rebound, up 24%.
Purcari Wineries Plc (Purcari, Crama Ceptura, Bostavan and Bardar brands) is one of the largest wine and brandy groups in the CEE region. The group manages around 1,300 hectares of vineyards and operates four production platforms in Romania and Moldova.
Purcari is the leader in the premium wine segment in Romania, with a 30% segment share, and the largest wine exporter from Moldova, delivering to over 30 countries.