Bucharest-listed Purcari Wineries H1 net profit flattish

The company also recorded Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of 20.48 million lei during the review period, up by an annual 10%, it said in an unaudited financial report filed with the Bucharest Stock Exchange, BVB.

Revenues across Romania, Moldova, Poland, Ukraine and Asia increased 16% year-on-year to a total of 123.8 million lei. Sales in Romania grew by an annual 7% in the first half, while in Moldova, sales jumped by an annual 44%.

"Our strong results are a good illustration of how resilient our business is, also in light of economic and inflationary pressures," Purcari Wineries CEO Victor Bostan said.

Strong performance of the company's flagship wine brand Purcari and of its premium brandy Bardar is signaling a solid consumer demand amid recessionary fears, the company said.

During the second quarter of the year, the company installed a 240 MWh photovoltaic system on the rooftop of its Chateau Purcari production site in Moldova and deployed a capillary irrigation system covering some 300 ha of its vineyards.

Purcari Wineries Public Company Limited is a Cyprus-domiciled holding company which manages approximately 1,350 hectares of vineyards, along with 6 production platforms in Romania and Moldova.

Blue-chip Purcari Wineries Public Company shares traded 0.76% lower at 9.18 lei per share at 1246 CET on Monday, on the BVB.

(1 euro = 4.9707 Romanian lei)