Moldova's Purcari Wineries net profit falls 7% in 2023

The company's consolidated revenue climbed by an annual 22% to 369.6 million lei last year, it said in a financial report filed with the Bucharest Stock Exchange on Wednesday.

The group's earnings before interest, taxes, depreciation, and amortisation fell by 6% on the year to 100.6 million lei.

Total assets stood at 645.1 million lei at the end of 2023, up by an annual 13%, while total liabilities increased by 7% to 279.2 million lei.

At the beginning of the year, the wine maker said it expanded to Turkey by acquiring a 90% stake in newly established Turkish company HTA Danismanlik Turizm Dis Ticaret. In March, Purcari Wineries signed an agreement to acquire 100% of local peer Timbrus Purcari Estate.

Founded in 1827, Purcari Wineries manages around 1,560 hectares of vineyards and operates seven production platforms in Romania, Moldova and Bulgaria. The company is the leader in Romania's premium wines segment with a market share of approximately 22% and Moldova's largest wine exporter, delivering to over 40 countries.

Blue-chip Purcari Wineries shares traded 2.08% higher at 14.7 lei per share as of 1259 CET on Thursday on the Bucharest bourse.

(1 euro = 4.9764 lei)