Purcari Wineries Public Co., Ltd. · BVB:WINE
Purcari Wineries Public — Shareholder Meeting (May 2024)
23 slides from Purcari Wineries Public's shareholder meeting presentation, May 22, 2024
Slide 1: Purcari Wineries Annual General Meeting
Purcari Wineries Public Company Limited BVB: WINE Annual General Meeting May 22, 2024 Page 1
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION IS MADE AVAILABLE ON THIS WEBSITE BY PURCARI WINERIES PUBLIC COMPANY LIMITED (the Company) AND IS FOR INFORMATION PURPOSES ONLY. This presentation and its contents do not, and are not intended to, constitute or form part of, and should not be construed as, constituting o
Slide 3: Today's presenters
Today’s presenters Alexandru Filip Vasile Tofan Deputy Chief Executive Officer Chairman of the Board of Directors ▪ ~20 years of experience in finance and ▪ Over 15 years experience in FMCG management consulting. ▪ Senior Partner at Horizon Capital, with ▪ Previously held positions as coordinating f
Slide 4: Board of Directors
Board of Directors Vasile Tofan Victor Bostan Chairman of the Board of Directors CEO, Founder, Executive Director ▪ Senior Partner at Horizon Capital, with over 15 ▪ Founder of the Group, since 2002. years of experience in investments in Consumer ▪ Over 35 years of experience in the wine Goods and T
Slide 5: Agenda
Agenda Negru de Purcari A wine of a complex and 1 intense bouquet, with notes Purcari Wineries Group of sweet fruits, coupled with fine flavors of spices and saffron. A noble red, with a rich structure, delicate tannins and a long sensual 2 aftertaste. Operational Performance 2023 55% Cabernet Sauvi
Slide 6: Strong track record of growth year to year
1 Strong track record of growth year to year Sustainable profitability accompanying strong growth Comments 2017 2018 2019 2020 2021 2022 2023 ▪ IPO on Bucharest Stock Exchange in February 2018 Revenue 142.3 168.1 199.1 203.7 248.1 302.5 369.7 ▪ Increased sales 2.6x since pre-IPO CoS -74.5 -85.5 -100
Slide 7: Long history of growth, high profitability
1 Long history of growth, high profitability Revenues EBITDA Net Income RON m RON m RON m 369 69 107 101 64 59 303 281 51 281 248 75 63 79 262 65 40 46 199 204 60 38 54 41 169 29 142 42 33 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 (1) RO
Slide 8: Vivino feedback remains very strong, essential for online sales
1 Vivino feedback remains very strong, essential for online sales #1 presence in the crucial RON 30-60 segment, holding 6 out of TOP – 10 positions ▪ We remain obsessed with the quality of our wines, which pays off in excellent consumer feedback. ▪ In our core premium segment, 30-60 RON per bottle s
Slide 9: Growth in Vivino usage – key for consumer engagement, ecommerce
1 Growth in Vivino usage – key for consumer engagement, ecommerce 4.2 Top 1% 76 Average score out of Global ranking based on # countries where 5.0 YoY avg. score received Purcari was scanned Page 9
Slide 10: Agenda
Agenda Alb de Ceptura 1 A cheerful and bright wine Purcari Wineries Group of a straw-yellow hue, with a sunny appearance and a complex, floral bouquet. A perfectly balanced white, that harmoniously 2 combines freshness with aromas of acacia, cherry 2023 Operational Results blossoms and vanilla. Char
Slide 11: PL: Delivering strong, while navigating macro crosscurrents
2 PL: Delivering strong, while navigating macro crosscurrents Purcari Group Comments RON m 4Q23 4Q22 ∆ 4Q 2023 2022 ∆ 12M Revenue 117.1 102.7 14% 369.6 302.5 22% ▪ 4Q23 reached 32% of total yearly sales. Gross Cost of Sales -66.55 -61.18 9% -215.2 -170.4 26% margin at 43%, +3pp vs 4Q22. Strong gross
Slide 12: Segment reporting: Ecosmart updates
2 Segment reporting: Ecosmart updates Purcari Group Ecosmart WINE Business Note: The shareholders of Ecosmart RON m 2023 2022 ∆ 12M 2023 2022 ∆ 12M 2023 2022 ∆ 12M Union SA are called upon on May 30, Revenue 369.6 302.5 22% 30.0 21.4 40% 339.6 281.1 21% 2024, to decide on the Cost of Sales -215.2 -1
Slide 13: Strong balance sheet and prudent liquidity management
2 Strong balance sheet and prudent liquidity management Cash Position Net Debt RON m RON m 50.8 Cash and 128 141 98 109 Receivables 32.1 23.5 76 66 21.8 18.6 19.4 12.6 46 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Mar-24 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Mar-24 Current Ratio Cash Ratio 2.79x
Slide 14: Continuous growth expansion, amid macroeconomic shifts
2 Continuous growth expansion, amid macroeconomic shifts Market Share of sales, 2023 ∆ ’23/’22 YoY Comments ▪ RO: +30% in 4Q23 YoY. Strong growth for all brands across the RO 59% +35% channels, 4Q representing 33% of total 2023 sales. Purcari outstanding performer, closely followed by Crama Ceptura,
Slide 15: Sales growth in a challenging consumer environment
2 Sales growth in a challenging consumer environment Brand Share of sales, 2023 ∆ ’23/’22 YoY Comments ▪ PURCARI: Significant volume growth coupled with price increases. Consumer demand proved resilient and premiumization strategy continues to deliver excellent 56% +29% results. Romania leads the gr
Slide 16: Outstanding results at most reputable wine competitions
2 Outstanding results at most reputable wine competitions Château Purcari in the TOP 3 most In the Top 5 most successful wineries Best in Show by Country Category at awarded wineries in the World in 2024 at Mundus Vini the London Wine Competition 430 medals and awards collected in 2023 Grand Gold an
Slide 17: Continue supporting, engaging, inspiring…
2 Continue supporting, engaging, inspiring… National Contest “Heritage”, 30th Edition First “Mărțișor” Festival in Istanbul ProWein Germany, Düsseldorf Main sponsor of the National contest of history Purcari’s reds and whites provided the Awarded Best Producer from Moldova at and Romanian literature
Slide 18: Agenda
Agenda Black Doktor Dry Red A deep red wine with a 1 ruby shade, harboring a harmonious and velvety Purcari Wineries Group bouquet of mellow berries, blackcurrant and black plums. A wine with notes of maturation and soft 2 tannins Q1 2024 Operational Results 52% Cabernet Sauvignon 31% Merlot 17% Sap
Slide 19: Guidance 2024 update
3 Guidance 2024 update 2024 guidance Target 2024 guidance Comments update ▪ Following the expected discontinuation of the Ecosmart line of business, the Group updates the annual guidance to reflect this Revenue +16-20% +12-15% change. growth ▪ Ecosmart accounted for circa 8% of Group revenues in 202
Slide 20: Agenda
Agenda Divin Bardar Platinum XXO 25 years 1 Purcari Wineries Group A divin that represents the essence of Bardar’s history, a creation of emblematic taste, full-bodied, harmonious, with nuances of candied fruit, roasted nuts and chocolate. 2 Q1 2024 Operational Results Aged in the finest oak barriqu
Slide 21: Resolutions subject to AGM voting
4 Resolutions subject to AGM voting ITEM 1 Re-election of Mr. Neil McGregor as independent, non-executive Director of the Company. ITEM 2 Election of Ms. Ana-Maria Mihaescu as independent, non-executive Director of the Company. ITEM 3 Election of Mr. Alex Filip as executive Director of the Company.
Slide 22: Learn more about Purcari Wineries Group
Learn more about Purcari Wineries Group On March 5, Purcari Wineries PCL launched a new website: purcariwineries.com. The new website features a friendly, easy-to-navigate design that allows visitors to learn about the latest events and ongoing initiatives, explore our vast wine portfolio and discov
Slide 23: Thank you for your attention!
Thank you for your attention! Page 23
Purcari Wineries Public Company — Shareholder Meeting (May 2024) on 6ix