Purcari Wineries, strong sales growth in Q1 | Progresiv
The Purcari Wineries Group reported net sales of 42.2 million lei in the first three months of this year, marking an increase of 29% over the same period of the previous year. The main markets that generated this result are Romania (+ 34%), Poland (+ 49%), Czech Republic and Slovakia (+ 96%), while sales in Moldova increased by 12%, according to the data provided by the producer. 
As a mix of products, there was a good dynamic on the premium segment, with the Purcari brand reporting an annual growth of 35%, mainly driven by the performance in Romania. Bostavan, the mid-market brand, had the fastest advance, with + 41% annually.
Gross margin rose to 48%, advancing 4 percentage points over the same period of last year, helped by favorable price developments and lower personnel costs, resulting in a + 39% increase in gross profit. In terms of earnings before interest and taxes (EBITDA), Purcari Wineries reached the level of 13.9 million lei, up by 37% over the same period last year.
"At February 28, we completed the acquisition of the assets of the Vimos winery in Moldova, including 263 hectares of vineyards and a primary winemaking production platform capable of processing up to 8,000 tons of grapes. This acquisition will bring significant benefits by providing access to quality white grapes in the Chetrosu area (Moldova) and the red grape plantations in the Moscova area (Moldova), known as some of the most suitable for cultivation and processing of large-scale grapes" , according to the company's report.
Purcari Wineries was founded in 1827 and operates four production platforms in Romania and Moldova. The group is a leader in the premium wine segment in Romania, with a 30% share and the largest wine exporter in Moldova, delivering in over 30 countries. The company reported a turnover of 169 million lei in 2018, up by 19% and a net profit of 46 million lei, marking a 58% advance compared to the previous year, according to the financial report published by the company.
