ROMANIA: Jidvei business, boosted by premium and super premium wines | Progresiv

Jidvei, one of the leading local wine producers, reported for the first half of this year a 20% increase in sales, which led to a turnover of about 65 million lei. This evolution was marked by sales of premium and super premium wines, said for Progresiv Cristian Saitariu (photo), General Director of the company.

The company, who owns 2,500 hectares of vineyards and wine cellars located in Jidvei, Blaj and Balcaciu, reported a turnover of 150.6 million lei and a net profit of 13.8 million lei last year.

"By the end of the year, we estimate that we will maintain the growth path so that turnover in 2017 will be about 20% above the previous year. Business development will also be accompanied by appropriate profitability. We do not intend to buy market share by sacrificing profit, but on the contrary: we think long-term and consider the sustainable and profitable development of our business. (...)", according to Cristian Saitariu.

This year's investments focused on expanding and refurbishing the machinery and equipment, but also on modernizing the Jidvei wine cellar. At the end of 2017, Jidvei will have a processing and storage capacity of over 30 million liters of wine, vinars and sparkling wine.

Exports bring 5% of business. The main markets for Jidvei wines are Germany, Italy, Great Britain, Japan, China and the United States of America.

The local bottled wine industry is estimated at 300 million euros. But we are talking about a very high degree of fragmentation, in the context of about 100 local players. The largest producers are, besides Jidvei, Murfatlar, Vincon and Cotnari.