Bucharest-listed Purcari Wineries, one of the largest wine producers in Central and Eastern Europe (CEE), announced its revenues increased by 18% year-on-year to RON 199 million (EUR 42 mln) in 2019, while its EBITDA and normalised IFRS net income surged by 25% and 19% respectively, to RON 68.2 mln (EUR 14.3 mln) and RON 44.5 mln (EUR 9.4 mln) respectively.

“We continued to deliver on our ambitious growth plans and we look forward to sustaining that momentum in 2020 too. In 2019, we invested in expanding our capacities, modernising our production, and creating a solid base for future growth. We have a number of exciting innovations in the pipeline and count to see the payback from them in the coming years,” said Victor Bostan, CEO Purcari Wineries.

The company projects its revenue will grow by another 16-20% this year.

The EBITDA margin is expected to remain robust at 30-32% this year (34% in 2019) while the net income margin is estimated at 20-22% (22% in 2019).

Purcari Wineries owns the Purcari, Crama Ceptura, Bostavan and Bardar brands.

The group manages around 1,400 hectares of vineyards and operates four production platforms in Romania and Moldova.

(Photo: Wiktor Wojtas | Dreamstime.com)

editor@romania-insider.com