Purcari Wineries, one of the most important wine groups in Central and Eastern Europe (CEE), has announced robust financial results for the first nine months of 2025.
The Group delivered strong top-line growth, improved margins, and record-breaking quarterly performance, consolidating its position as a regional industry leader amid shifting market conditions.
Revenue Growth Accelerates, Reaching New Highs
For the first nine months of 2025, Purcari Wineries reported RON 300.6 million in revenue, a 15% year-on-year increase. The Group achieved its highest-ever third-quarter results, generating RON 103.5 million, marking the second consecutive quarter surpassing the RON 100 million threshold.
Profitability also strengthened significantly:
- EBITDA margin for the first nine months of 2025 reached 28%, at the upper end of the company’s guidance range.
- Net Profit margin improved to 12%, reflecting disciplined cost control and a favorable product mix.
In Q3 alone, the company delivered:
- 33.8% EBITDA margin
- 19.5% net profit margin
- Gross profitability margin of 49.4%, up 3 percentage points YoY
CEO Alexandru Filip expressed confidence in the company’s trajectory, stating:
“We are pleased to deliver another strong quarter, with sales reaching RON 105 million and gross profitability improving year-on-year. Both EBITDA and net profit margins strengthened significantly versus the previous quarter. We remain optimistic heading into the year-end period, traditionally marked by strong positive seasonality.”
Performance by Market: Romania Leads, CEE Mixed, RoW Accelerates
Purcari Wineries’ commercial development across key markets shows both stable core performance and opportunities for expansion.
Romania – +18.6% YoY (61% of Group sales)
Romania remains the company’s strongest market, contributing over half of total revenue. The flagship Purcari brand recorded the highest growth rate in the portfolio, accounting for 51% of local sales.
Moldova – +12% YoY
Growth in Moldova was supported by improved pricing, a richer product mix, and recovery in the Duty-Free channel.
Bulgaria – +33% YoY
A remarkable performance driven by both Angel’s Estate and Purcari as the Group continues to expand its footprint in this growing market.
Central & Eastern Europe (CEE) – -9% YoY
A mixed region:
- Ukraine and the Baltics performed strongly.
- Poland, Czechia, and Slovakia saw declines due to lower stocking and fewer promotions.
Rest of World (RoW) – +30% YoY
Western Europe and Asia delivered exceptional results, supporting the Group’s strategy of deepening international partnerships and building long-term export channels.
A Transformative Ownership Shift: MASPEX Becomes Majority Shareholder
A major milestone for Purcari Wineries in 2025 was the voluntary takeover bid conducted between July 16 and July 30, which reshaped the Group's shareholder structure.
- MASPEX, the Polish FMCG leader, acquired a 72.5% stake, becoming the majority shareholder.
- Victor Bostan, founder of Purcari Wineries, retains 15%, ensuring continuity and strategic alignment.
- More than 3,000 institutional and retail investors remain shareholders.
Regulatory approvals have been obtained in Romania, Moldova, and Bulgaria, with the final clearance pending from CEISD in Romania. MASPEX Romania S.R.L. officially filed the notification on July 31, 2025.
This transaction positions Purcari within one of CEE’s strongest FMCG platforms—MASPEX Group, which operates in 80+ countries, manages 70+ brands, and employs over 10,000 people.
About Purcari Wineries Group
Purcari Wineries Public Company Limited is among the largest integrated wine and brandy producers in Central and Eastern Europe, with a portfolio including Purcari, Crama Ceptura, Bostavan, Bardar, Domeniile Cuza, and Angel’s Estate.
The Group:
- Manages ~2,000 hectares of vineyards
- Operates seven production platforms across Romania, Moldova, and Bulgaria
- Is Romania’s leader in the premium wine segment
- Is Moldova’s largest wine exporter, reaching 40+ countries
- Has been the most awarded CEE winery at Decanter London (2015–2024)
- Maintains one of the highest Vivino ratings in the region: 4.1/5.0 from more than 113,000 reviews
Purcari has been listed on the Bucharest Stock Exchange under the ticker WINE since February 2018.
Outlook: Strong Fundamentals and Positive Year-End Expectations
With record-breaking quarterly results, improving margins, and an expanded global reach, Purcari Wineries is entering the final quarter of 2025 with momentum. The combination of solid domestic performance, a recovering regional landscape, and early success in Western Europe and Asia positions the Group for continued growth.
Meanwhile, the MASPEX majority stake creates opportunities for further integration, operational synergies, and strategic expansion, reinforcing Purcari’s long-term competitiveness across the CEE wine and spirits landscape.
Source: Purcari Wineries