Purcari Wineries Group reported a 6.8% year-over-year decline in total revenues for the first half of 2026, falling to RON 182.2 million from RON 195.4 million in the same period of 2025. The company's gross margin expanded by 70 basis points to 45.3%, while gross profit decreased 5% to RON 82.5 million.
EBITDA increased 6% to RON 51.9 million, lifting the EBITDA margin by 340 basis points to 28.5%, exceeding the company's guidance range of 24–26%. Net profit remained relatively stable at RON 15.1 million, a 4% decline year-over-year, with the net profit margin improving by 30 basis points to 8.3%. Marketing and selling expenses fell 6% to RON 27.6 million, while general and administrative expenses rose 9% to RON 28.0 million.
The company recorded a RON 2.4 million bargain purchase gain from the SERVE Ceptura acquisition and other income and expenses surged 350% to RON 5.8 million. Purcari also introduced the limited-edition Parcela Collection, featuring 14 wines and one sparkling wine, and highlighted biodiversity monitoring at Château Purcari, which identified 153 bird species and 28 terrestrial animal species.
Geographic performance showed mixed results, with Romania declining 9.5% to RON 105 million, Bulgaria expanding 23.6% to exceed RON 10 million, and Moldova remaining flat at RON 29.4 million. Central and Eastern Europe fell 15.7%, while the rest of the world declined 5.3%. Brand performance varied, with Ceptura growing 6% to RON 27 million and Angels Estate posting 23% growth.
Purcari's cash position dropped sharply to RON 14.0 million as of June 30, 2026, from RON 50.8 million at year-end 2025. Net debt surged to RON 345 million, up from RON 128 million, driven by RON 52.7 million in capital expenditures and acquisitions totaling RON 23.7 million. The net debt-to-EBITDA ratio increased to 2.95x from 1.77x, while the current ratio declined to 1.40x and the cash ratio fell to 0.04x.
The company revised its full-year 2026 guidance, lowering revenue growth expectations to 0–5% from the original 10–15% range, while maintaining its EBITDA margin guidance of 24–26% and trimming net income margin guidance to 10–12% from 11–14%.
