Purcari has a RON385 million capitalization, with its shares having gone up 12% this year.
“It has been the second-best quarter wise since pre-pandemic 2019 for Purcari, despite challenging macro backdrop. Things do improve across the board, with smoother-functioning supply chains, a reopening in China, abating energy prices, but margins remain somewhat under pressure. We maintain a strong balance sheet and are well positioned to continue gaining market share and take advantage of inorganic opportunities out there. We are confident, strong companies like ours emerge even stronger from such crisis”, said Victor Bostan, CEO of Purcari Wineries PLC.
In Romania, revenues rose by 32% from 1Q/2022, with an advance across all brands. Growth in Moldova reached 19%, with the company mentioning there are „negotiations with key accounts to push through price increases”.
In Poland, sales climbed 21%. The company continues to focus on the ongoing prioritization of margin over volumes with Bostavan, targeting the popular premium segment.
In Asia, sales dropped by 18% amid declining sales of Bostavan, while Purcari brands saw 35% growth. „Improving outlook for China on post-Covid reopening. Our country manager returned to China, after a 3 years travel ban for foreigners”.
In Ukraine, Purcari had a strong 1Q/2023, beating pre-full scale invasion 1Q/2021 by 24%. „Maintaining the local team and increasing distribution through key account channels”.
(English version by Catalina Apostoiu)