Q1 2026 Purcari Wineries PCL Earnings Call Transcript
Key Points
- EBITDA increased by 17% year-on-year, supported by gross margin expansion and disciplined cost management.
- Purcari Wineries PCL signed two strategic acquisitions, reinforcing its position as Romania's leading wine consolidator.
- The company strengthened international visibility through events in Cyprus, Monaco, and China, enhancing brand recognition.
- Despite high inflation, the company managed to deliver flat revenue, indicating resilience in a volatile macroeconomic environment.
- The company improved its gross margin by 2 percentage points, driven by a focus on premiumization and pricing strategies.
- Net profit decreased by 11% due to higher depreciation and foreign exchange effects.
- Revenue in Central Europe declined by 17%, impacted by transition and alignment with Maspex.
- The Purcari brand experienced a negative impact of minus 1.5% due to consumer preference for cheaper products.
- Bostavan, primarily an export portfolio, saw a significant decline of 34%, affecting overall performance.
- General and administrative expenses increased by 70%, driven by higher labor costs and restructuring expenses.
Good afternoon, everyone, and thank you for joining Purcari Wineries Group Results call for the first quarter 2026 results. I'm Eugeniu Baltag, the Head of IR at Purcari. And with me today are Mr. Anatol Belibov, the CFO; and Victoria Moldovan, the Senior IR of the group.
We will start with a brief overview of the key highlights of the period, then we will walk you through the financials and main operational developments across our markets, and we will close with our guidance for 2026. And after that, we will open the line for Q&A.
So before we begin, a quick note that some of today's comments may include forward-looking statements, which are subject to risks and uncertainties, and actual results may differ. So with that, let's get started. So in the first quarter of 2026, we continue to strengthen the quality and resilience of our business. Romania, Moldova and Bulgaria remained our key markets together accounting for more than 80% of our group sales, while (inaudible) Bulgaria delivered another very strong quarter.
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