Purcari Wineries PCL

Purcari produces, bottles, and sells wine, brandy, and divin (a Moldovan spirit) across Central and Eastern Europe, with brands including Purcari, Crama Ceptura, Bostavan, and Domeniile Cuza. The company operates vineyards, a bar, a restaurant, and hotel services, and exports to over 20 countries including Romania (its core market), Poland, the UK, China, and the US.

Purcari Wineries is a Moldovan wine producer facing headwinds: revenue fell 11.3% year-over-year through June 2026, and recent news shows sales declined roughly 7-10% in the first half of 2026, with Romania — the company's largest market — particularly weak [Forbes Romania] [logos-pres.md]. Despite the revenue drop, the company expanded its operating margin and lifted first-half EBITDA 6%, signaling better cost control [Vinetur] [revistabiz.ro]. The business trades at 15.4x trailing earnings but the forward P/E of 8.9x implies the market expects earnings to improve sharply [Yahoo Finance].

Revenue contracted sharply but margin expansion offset some earnings pressure; leverage and cash flow are stretched.