BUCHAREST (Romania), May 16 (SeeNews) - Bucharest-listed wine maker Purcari Wineries [BVB:WINE] said on Monday its net profit rose 17% year-on-year in the first quarter of 2022 to 12 million lei ($2.5 million/ 2.4 million euro).
The company also recorded an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of 20.48 million lei within the same period, it said in an unaudited financial report filed with the Bucharest Stock Exchange, BVB.
Purcari's sales on the Romanian market rose 7% on the year during January-March to 28 million lei, while those on Moldovan market jumped by an annual 36% to 9.1 million lei.
Overall, Purcari Wineries recorded a 13% year-on-year increase for its revenues across all markets, to a total of 56.2 million lei.
"The combination of our strong brands, offering an affordable luxury, in an environment when consumers are focused on value, as well as our cost discipline, put us in a good position to weather this challenging period for our region and world," Purcari Wineries CEO Victor Bostan said.
Two of the best performing products on the Romanian market were the company’s Purcari brand of wine and the Bardar brandy, while the Moldovan market showed increased appetite for the Bostavan and Bardar brands.
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.
The company booked a total profit of 51.4 million lei in 2021, as well as an EBITDA of 75.2 million lei.
Blue-chip Purcari Wineries Public Company shares traded up 3.05% at 9.45 lei per share at 1614 CET on Monday, on the BVB.
(1 euro = 4.9469 Romanian lei)