Purcari Wineries Group reported first-half 2026 revenue of RON 182.2 million, down 6.8% from RON 195.4 million a year earlier, as consumer demand softened in Romania and parts of Central Europe. The decline contrasted with a 6% increase in EBITDA to RON 51.9 million, driven by a 70-basis-point expansion in gross margin to 45.3% and a 340-basis-point rise in EBITDA margin to 28.5%.
Net profit edged down 4% to RON 15.1 million, while the net margin improved by 30 basis points to 8.3%. Cost controls contributed to the margin gains, with the cost of sales falling 8% to RON 99.7 million despite the revenue drop. SG&A expenses rose 1% to RON 55.7 million, reflecting higher general and administrative costs offset by lower marketing and selling expenses.
The company’s cash position declined to RON 14.0 million at June 30, 2026, from RON 50.8 million at year-end 2020, while net debt increased to RON 345 million, pushing the net debt-to-EBITDA ratio to 2.95x from 0.76x in December 2019. The debt-to-equity ratio rose to 80% from 43% over the same period.
Geographically, Romania accounted for 59% of sales but declined 9.5% to RON 105 million. Moldova’s revenue was flat at RON 29 million, while Bulgaria surged 23.6% to RON 10 million. Brands showed mixed performance, with the flagship Purcari label down 9.5% to RON 101 million and Ceptura up 6% to RON 27 million.
Purcari lowered its full-year 2026 revenue growth guidance to a range of 0–5%, down from the prior 10–15% outlook. EBITDA margin guidance remained unchanged at 24–26%, while net income margin guidance was trimmed to 10–12% from 11–14%. The company also reaffirmed plans for average annual capital expenditures of EUR 20 million through 2027.
Shares of Purcari Wineries traded at $19.75 following the presentation, up 1.28%, within a 52-week range of $17.5 to $20.7.
