Varga Cellars revenue up 2% in 2020

Drinks

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Varga Cellars, Hungary's biggest seller of bottled wine, had revenue of HUF 5.9 billion in 2020, up 2% from a year earlier, according to a report by state news wire MTI.

Profits came to HUF 350 million, up from HUF 200 mln in the previous year.

The harvest has started in Hungary, the yield is average but the quality of the grapes is excellent, co-owner and commercial director Máté Péter Varga said on Thursday.

Varga Cellars grows grapes on 250 hectares and buys from other producers from 2,000 hectares, Varga said. Since the company makes its expanding premium products from its own grapes, the aim is to increase the area of the estate, he said. The company plans to add 50 hectares to its area belonging to the Eger wine-growing region.

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