Purcari Wineries Group reported a 6.8% year-over-year decline in first-half 2026 sales to RON 182 million, reflecting weaker consumer demand in its core Romanian market and select Central European regions. The Moldovan winemaker maintained profitability with net profit of RON 15.1 million, essentially unchanged from a year earlier, while gross profit margin expanded to 45.3% from 44.6%.
The company’s EBITDA margin rose to 28.5%, supported by a 5% reduction in cost of goods sold and a 5.6% cut in marketing spending. Operating expenses remained broadly flat, though general and administrative costs increased 8%. Net finance costs climbed 4% to RON 13.3 million, partially offset by a preliminary gain of approximately RON 2.4 million from the SERVE Ceptura acquisition.
Total assets grew 8% to around RON 941 million as of June 30, but the cash position stood at just RON 14 million, with net debt rising to RON 345 million from RON 270 million at year-end 2025. The net debt-to-EBITDA ratio increased to 2.95, while the current ratio fell to 1.4 from 1.88. Capital expenditures totaled RON 53 million in H1, with an average annual outlay of EUR 20 million planned through 2027.
Geographically, Romania—its largest market—saw a 9% volume decline as household budgets tightened. Moldova reported marginal growth of about 1%, while Bulgaria continued double-digit expansion. Central and Eastern Europe, including Poland, experienced volume declines for the Bostavan brand, and the rest of the world declined 5.3%, with gains in Turkey and Croatia offset by weakness in China and parts of Africa.
Purcari lowered its 2026 revenue growth guidance to a range of 0% to 5%, down from the prior 10% to 15% target, while maintaining its EBITDA margin guidance of 24% to 26%. Net income margin guidance was reduced to 10% to 12% from 11% to 14%. The company noted that 2026 grape harvests are progressing favorably as harvesting begins.
