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Purcari Wineries, one of Republic of Moldova's best hallmarks
Moldovan wine producer Purcari is one of the best hallmarks of the Republic of Moldova and we hope that many more entrepreneurs from that country will list their business in Bucharest, president of the Bucharest Stock Exchange (BVB) Lucian Anghel said on the occasion of the Purcari Wineries debut on BVB's regulated market.
"The offering closed with great success. Purcari is perhaps one of the best hallmarks of the Republic of Moldova. They say in 'vino veritas', we hope that wine also holds value that will increase over time. Purcary is a trailblazer in another sense too, not just economy-wise. Taking after the model of MedLife, which has unchained and opened the entrepreneurs' minds, imagination and desire to get their companies listed, I hope that many more Moldovan entrepreneurs list their business in Bucharest," Anghel said.
In turn his turn, BVB CEO Adrian Tanase said that this listing will help Purcary Wineries carry out future plans.
''The company operates over 1,000 hectares of vineyard and four production capacities in Romania and Moldova. Purcari owns two of the top five premium brands in Romania, with a total 26 percent of this segment. Against the backdrop of robust consumption growth in the CEE and especially in Romania, Purcari had an average revenue growth rate of 34 percent between 2014 and 2016, with annual average growth rates of 55 percent in Romania, 49 percent in Poland, 44 percent in Moldova, 15 percent in the Czech Republic and Slovakia. This high growth pace continued over the first nine months of 2017, as the company advanced by a yearly 35 percent, and growth in Romania was 69 percent higher as to the same period of 2016."
The nine-month EBITDA margin in 2017 was 33 percent, while the net profit margin rose to 23 percent, up 29 percent and 55 percent, respectively, compared to the same period of 2016.
"In Romania the consumption ratio is of six liters of beer and spirits for one liter of wine, while in Poland the ratio is 18 to 1, so we have a lot of work ahead, especially after we entered the sparkling wines segment in the previous year," said Purcari Wineries founder and CEO Victor Bostan.