The shares of Purcari Wineries (BVB: WINE) rose by 2.5% on May 15 at the Bucharest Exchange after the company announced its revenues rose by 31% y/y in Q1 and the management proposed a dividend out of 2022 profit, equivalent to a 6% yield on the announcement date.

The company has a market capitalisation of RON 393 mln (nearly EUR 80 mln).

The company’s revenues reached RON 73.3 mln, registering the strongest first-quarter growth (+31% y/y) since 2019. All brands registered double-digit growth, with volume and price increases contributing almost equally.

Resilient margins defied tighter economic conditions. Growth and margins were in Q1 significantly ahead of FY2023 guidance of 18-22% revenue growth, 22-26% EBITDA margin and 12-16% Net Income margin.

The Annual General Meeting (“AGM”) is to be held on May 26.

iulian@romania-insider.com

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