A Year of Continued Stabilisation and Positive Net Results

The company “13. Jul – Plantaže” ended 2025 with a profit of €4.92 million before tax and €3.99 million after tax, with revenues of €38.5 million, representing a 10% increase compared to 2024 and, at the same time, the highest level of revenue in the past decade.

EBITDA amounted to €9.5 million, expenses were maintained at the level of the previous year, while strong investment activity and debt reduction continued. These indicators confirm that 2025 was a year of continued stabilisation and recovery of the company’s operations.

In 2025, revenues from the sale of products and services remained at the level of 2024. Within the structure of these revenues, significant growth was recorded in the segments of hospitality and wine tourism, sales of fresh fruit, olive oil and retail.

From the production perspective, 2025 was a highly successful operational year. The highest average yield per hectare since 2018 was achieved, with yields 30% higher than in the previous year. This result carries particular weight given that the company operates with a smaller total productive area, due to the process of vineyard renewal and the establishment of new plantations, while part of the existing areas consists of older vines.

For this reason, yield per hectare is the most relevant indicator of production performance, and the result achieved in 2025 is a clear, measurable and comparable indicator that the production year was successful. In table grapes, the highest revenues since 2019 were achieved, with consistent and good quality, while revenues from peaches were higher than in 2024.

At the same time, the company continued a strong investment cycle. In 2025, investments totalling €4.9 million were realised from the company’s own funds, which is 63% more than in 2024. In the period 2023–2025, the company invested around €9 million, predominantly in the establishment of new plantations, renewal of machinery and procurement of new equipment.

Over the past three years, more than 130 hectares of new vineyards have been planted, of which 64 hectares were planted in 2025 alone, confirming that the company’s development is based on the systematic renewal of its production base.

Total expenses were maintained at the level of the previous year and amounted to €35.48 million, demonstrating responsible cost management. Within the expense structure, the largest share relates to costs of materials, energy and labour. The number of permanent employees in 2025 did not increase compared to the previous year, while the greater engagement of seasonal labour was determined by production needs and the requirement that all work be carried out fully, on time and within the prescribed agricultural deadlines.

During 2025, the company’s balance sheet position was also further improved. Compared to 2024, total debt was reduced by €5.5 million, while compared to 2023 it was lower by €8 million. Tax debt was reduced by €1.5 million in 2025, while bank liabilities were reduced from €18.3 million in 2023 to €11.5 million in 2025.

Financial stabilisation was also supported by the strategic decision to valorise part of the assets that are not in the function of the core business and generate costs, with the funds obtained on this basis directed exclusively towards the reduction of inherited and previously accumulated liabilities, as well as towards investments.

During 2025, Plantaže further strengthened its reputational position on the international wine scene. The company won 28 awards at the most important global competitions, from Great Britain to China. Vranac Pro Corde 2021 was named Best Wine in the Balkans at BIWC 2025, while gold medals were also awarded to white, red and archive wines from the company’s portfolio.

In 2025, a new product step forward was also presented — premium extra virgin olive oil in a limited edition, further strengthening the premium gastronomy segment.

The results achieved in 2025 confirm that the company is continuing the process of financial stabilisation on sound and sustainable foundations, with a clear development perspective. This approach is not focused on short-term effects, but on preserving and further developing one of Montenegro’s most valuable brands.

The continuity of positive results and regular financial reporting further strengthen the confidence of shareholders and business partners in the company and its long-term sustainability.

“13. Jul – Plantaže”