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Share Name | Share Symbol | Market | Type |
---|---|---|---|
G Willi Food International Ltd | NASDAQ:WILC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.1339 | 1.44% | 9.4439 | 0.39 | 9.60 | 9.45 | 9.34 | 9.34 | 477 | 01:00:00 |
G. Willi-Food International Ltd. | |||
By:
|
/s/ Yitschak Barabi | ||
Name: Yitschak Barabi | |||
Title: Chief Financial Officer |
• |
Sales increased by 4.9% to NIS 129.2 million (US$ 34.9 million) from NIS 123.2 million (US$ 33.3 million) in the second quarter of 2022.
|
• |
Gross profit decreased by 32.8% year-over-year to NIS 26.1 million (US$ 7.1 million).
|
• |
Operating profit decreased by 93.3% year-over-year to NIS 1.0 million (US$ 0.3 million).
|
• |
Net profit decreased by 32.6% year-over-year to NIS 4.9 million (US$ 1.3 million).
|
• |
Cash and securities balance of NIS 212.1 million (US$ 57.3 million) as of June 30, 2023.
|
• |
Basic earnings per share of NIS 0.4 (US$ 0.1).
|
• |
Sales increased by 16.3% to NIS 280.6 million (US$ 75.8 million) from NIS 241.2 million (US$ 65.2 million) in the first half of 2022.
|
• |
Gross profit decreased by 9.5% year-over-year to NIS 66.0 million (US$ 17.8 million).
|
• |
Operating income decreased by 41.5% year-over-year to NIS 14.0 million (US$ 3.9 million).
|
• |
Net profit decreased by 24.7% year-over-year to NIS 15.7 million (US$ 4.2 million), or 5.6% of sales.
|
• |
Basic earnings per share of NIS 1.13 (US$ 0.3).
|
June 30,
|
December 31
|
June 30,
|
December 31
|
|||||||||||||||||||||
2 0 2 3
|
2 0 2 2
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
2 0 2 2
|
|||||||||||||||||||
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
(in thousands)
|
||||||||||||||||||||||||
ASSETS
|
||||||||||||||||||||||||
Current assets
|
||||||||||||||||||||||||
Cash and cash equivalents
|
110,916
|
171,251
|
150,607
|
29,977
|
46,283
|
40,705
|
||||||||||||||||||
Financial assets carried at fair value through profit or loss
|
101,140
|
134,261
|
116,762
|
27,335
|
36,287
|
31,557
|
||||||||||||||||||
Trade receivables
|
166,020
|
153,268
|
165,838
|
44,870
|
41,424
|
44,822
|
||||||||||||||||||
Other receivables and prepaid expenses
|
3,828
|
2,401
|
4,956
|
1,035
|
649
|
1,339
|
||||||||||||||||||
Inventories
|
98,302
|
73,877
|
71,929
|
26,568
|
19,967
|
19,440
|
||||||||||||||||||
Current tax assets
|
7,086
|
6,253
|
3,117
|
1,916
|
1,690
|
842
|
||||||||||||||||||
Total current assets
|
487,292
|
541,311
|
513,209
|
131,701
|
146,300
|
138,705
|
||||||||||||||||||
Non-current assets
|
||||||||||||||||||||||||
Property, plant and equipment
|
108,217
|
90,621
|
99,216
|
29,248
|
24,492
|
26,815
|
||||||||||||||||||
Less - Accumulated depreciation
|
53,708
|
50,631
|
51,533
|
14,516
|
13,684
|
13,928
|
||||||||||||||||||
54,509
|
39,990
|
47,683
|
14,732
|
10,808
|
12,887
|
|||||||||||||||||||
Right of use asset
|
3,359
|
3,587
|
3,391
|
908
|
969
|
916
|
||||||||||||||||||
Financial assets carried at fair value through profit or loss
|
44,252
|
31,836
|
44,113
|
11,960
|
8,605
|
11,923
|
||||||||||||||||||
Goodwill
|
36
|
36
|
36
|
10
|
10
|
10
|
||||||||||||||||||
Total non-current assets
|
102,156
|
75,449
|
95,223
|
27,610
|
20,392
|
25,736
|
||||||||||||||||||
589,448
|
616,760
|
608,432
|
159,311
|
166,692
|
164,441
|
|||||||||||||||||||
EQUITY AND LIABILITIES
|
||||||||||||||||||||||||
Current liabilities
|
||||||||||||||||||||||||
Current maturities of lease liabilities
|
2,170
|
781
|
2,194
|
586
|
211
|
593
|
||||||||||||||||||
Trade payables
|
22,196
|
21,275
|
24,842
|
5,999
|
5,750
|
6,714
|
||||||||||||||||||
Employees Benefits
|
4,050
|
3,944
|
3,756
|
1,095
|
1,066
|
1,015
|
||||||||||||||||||
Financial liabilities at fair value through profit or loss
|
-
|
1,310
|
-
|
-
|
354
|
-
|
||||||||||||||||||
Other payables and accrued expenses
|
8,329
|
10,401
|
11,836
|
2,252
|
2,811
|
3,199
|
||||||||||||||||||
Total current liabilities
|
36,745
|
37,711
|
42,628
|
9,932
|
10,192
|
11,521
|
||||||||||||||||||
Non-current liabilities
|
||||||||||||||||||||||||
Lease liabilities
|
1,482
|
2,986
|
1,284
|
401
|
808
|
347
|
||||||||||||||||||
Deferred taxes
|
4,345
|
2,198
|
4,198
|
1,174
|
594
|
1,135
|
||||||||||||||||||
Retirement benefit obligation
|
977
|
1,733
|
878
|
264
|
468
|
237
|
||||||||||||||||||
Total non-current liabilities
|
6,804
|
6,917
|
6,360
|
1,839
|
1,870
|
1,719
|
||||||||||||||||||
Shareholders' equity
|
||||||||||||||||||||||||
Share capital
|
1,490
|
1,490
|
1,490
|
403
|
403
|
403
|
||||||||||||||||||
Additional paid in capital
|
172,240
|
170,760
|
171,550
|
46,551
|
46,151
|
46,365
|
||||||||||||||||||
Remeasurement of the net liability in respect of defined benefit
|
(195
|
)
|
(959
|
)
|
(195
|
)
|
(53
|
)
|
(259
|
)
|
(53
|
)
|
||||||||||||
Capital fund
|
247
|
247
|
247
|
67
|
67
|
67
|
||||||||||||||||||
Retained earnings
|
372,745
|
401,222
|
386,980
|
100,742
|
108,438
|
104,589
|
||||||||||||||||||
Treasury shares
|
(628
|
)
|
(628
|
)
|
(628
|
)
|
(170
|
)
|
(170
|
)
|
(170
|
)
|
||||||||||||
Equity attributable to owners of the Company
|
545,899
|
572,132
|
559,444
|
147,540
|
154,630
|
151,201
|
||||||||||||||||||
589,448
|
616,760
|
608,432
|
159,311
|
166,692
|
164,441
|
Six months
|
Three months
|
Six months
|
||||||||||||||||||||||
ended
|
ended
|
ended
|
||||||||||||||||||||||
June 30,
|
June 30,
|
June 30,
|
||||||||||||||||||||||
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
|||||||||||||||||||
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
In thousands (except per share and share data)
|
||||||||||||||||||||||||
Sales
|
280,600
|
241,224
|
129,244
|
123,155
|
75,838
|
65,196
|
||||||||||||||||||
Cost of sales
|
214,508
|
168,200
|
103,186
|
84,373
|
57,975
|
45,459
|
||||||||||||||||||
Gross profit
|
66,092
|
73,024
|
26,058
|
38,782
|
17,863
|
19,737
|
||||||||||||||||||
Operating costs and expenses:
|
||||||||||||||||||||||||
Selling expenses
|
38,700
|
37,597
|
18,781
|
18,359
|
10,460
|
10,161
|
||||||||||||||||||
General and administrative expenses
|
13,421
|
11,493
|
6,304
|
5,947
|
3,627
|
3,106
|
||||||||||||||||||
Other income
|
25
|
-
|
-
|
-
|
7
|
-
|
||||||||||||||||||
Total operating expenses
|
52,096
|
49,090
|
25,085
|
24,306
|
14,079
|
13,267
|
||||||||||||||||||
Operating profit
|
13,996
|
23,934
|
973
|
14,476
|
3,783
|
6,470
|
||||||||||||||||||
Financial income
|
6,220
|
8,940
|
5,683
|
4,877
|
1,681
|
2,416
|
||||||||||||||||||
Financial expense
|
(370
|
)
|
(8,078
|
)
|
(359
|
)
|
(9,863
|
)
|
(100
|
)
|
(2,183
|
)
|
||||||||||||
Total financial income (expense)
|
5,850
|
862
|
5,324
|
(4,986
|
)
|
1,581
|
233
|
|||||||||||||||||
Income before taxes on income
|
19,846
|
24,796
|
6,297
|
9,490
|
5,364
|
6,703
|
||||||||||||||||||
Taxes on income
|
(4,132
|
)
|
(3,930
|
)
|
(1,428
|
)
|
(2,268
|
)
|
(1,117
|
)
|
(1,062
|
)
|
||||||||||||
Profit for the period
|
15,714
|
20,866
|
4,869
|
7,222
|
4,247
|
5,641
|
||||||||||||||||||
Earnings per share:
|
||||||||||||||||||||||||
Basic earnings per share
|
1.1
|
1.5
|
0.4
|
0.5
|
0.3
|
0.41
|
||||||||||||||||||
Diluted earnings per share
|
1.1
|
1.5
|
0.4
|
0.5
|
0.3
|
0.41
|
||||||||||||||||||
Shares used in computation of
basic EPS |
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
||||||||||||||||||
Shares used in computation of
diluted EPS |
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
||||||||||||||||||
Actual number of shares
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
Six months
|
Three months
|
Six months
|
||||||||||||||||||||||
ended
|
ended
|
ended
|
||||||||||||||||||||||
June 30,
|
June 30,
|
June 30,
|
||||||||||||||||||||||
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
|||||||||||||||||||
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
(in thousands)
|
||||||||||||||||||||||||
CASH FLOWS - OPERATING ACTIVITIES
|
||||||||||||||||||||||||
Profit from continuing operations
|
15,714
|
20,866
|
4,869
|
7,222
|
4,247
|
5,641
|
||||||||||||||||||
Adjustments to reconcile net profit to net cash used to continuing operating activities (Appendix A)
|
(32,042
|
)
|
(24,248
|
)
|
(184
|
)
|
(12,900
|
)
|
(8,660
|
)
|
(6,554
|
)
|
||||||||||||
Net cash from (used in) continuing operating activities
|
(16,328
|
)
|
(3,382
|
)
|
4,685
|
(5,678
|
)
|
(4,413
|
)
|
(913
|
)
|
|||||||||||||
CASH FLOWS - INVESTING ACTIVITIES
|
||||||||||||||||||||||||
Acquisition of property plant and equipment
|
(8,976
|
)
|
(3,376
|
)
|
(2,165
|
)
|
(1,059
|
)
|
(2,426
|
)
|
(912
|
)
|
||||||||||||
Proceeds from sale of marketable securities, net
|
16,033
|
12,056
|
7,540
|
3,851
|
4,332
|
3,256
|
||||||||||||||||||
Net cash used in continuing investing activities
|
7,057
|
8,680
|
5,375
|
2,792
|
1,906
|
2,344
|
||||||||||||||||||
CASH FLOWS - FINANCING ACTIVITIES
|
||||||||||||||||||||||||
Lease liability payments
|
(954
|
)
|
(1,028
|
)
|
(461
|
)
|
(497
|
)
|
(258
|
)
|
(278
|
)
|
||||||||||||
Dividend
|
(29,949
|
)
|
(19,966
|
)
|
(29,949
|
)
|
(19,966
|
)
|
(8,094
|
)
|
(5,396
|
)
|
||||||||||||
Net cash used to continuing financing activities
|
(30,903
|
)
|
(20,994
|
)
|
(30,410
|
)
|
(20,463
|
)
|
(8,352
|
)
|
(5,674
|
)
|
||||||||||||
Increase (decrease) in cash and cash equivalents
|
(40,174
|
)
|
(15,696
|
)
|
(20,350
|
)
|
(23,349
|
)
|
(10,859
|
)
|
(4,243
|
)
|
||||||||||||
Cash and cash equivalents at the beginning of the financial period
|
150,607
|
195,718
|
131,472
|
198,339
|
40,705
|
52,897
|
||||||||||||||||||
Exchange losses (profit) on cash and cash equivalents
|
483
|
(8,771
|
)
|
(206
|
)
|
(3,739
|
)
|
131
|
(2,371
|
)
|
||||||||||||||
Cash and cash equivalents of the end of the financial year
|
110,916
|
171,251
|
110,916
|
171,251
|
29,977
|
46,283
|
Six months
|
Three months
|
Six months
|
||||||||||||||||||||||
ended
|
ended
|
ended
|
||||||||||||||||||||||
June 30,
|
June 30,
|
June 30,
|
||||||||||||||||||||||
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
|||||||||||||||||||
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
(in thousands)
|
||||||||||||||||||||||||
Decrease (increase) in deferred income taxes
|
147
|
181
|
682
|
(1,098
|
)
|
40
|
49
|
|||||||||||||||||
Unrealized loss (gain) on marketable securities
|
(553
|
)
|
6,993
|
(3,577
|
)
|
9,141
|
(149
|
)
|
1,890
|
|||||||||||||||
Depreciation and amortization
|
3,336
|
3,298
|
1,711
|
1,450
|
902
|
891
|
||||||||||||||||||
Capital gain on disposal of property plant and equipment
|
(25
|
)
|
-
|
-
|
(7
|
)
|
-
|
|||||||||||||||||
Exchange gain (losses) on cash and cash equivalents
|
(483
|
)
|
8,771
|
206
|
3,739
|
(131
|
)
|
2,371
|
||||||||||||||||
Unrealized gain of financial liabilities at fair value through profit or loss
|
-
|
(12,650
|
)
|
(5,209
|
)
|
-
|
(3,419
|
)
|
||||||||||||||||
Stock based compensation reserve
|
690
|
-
|
264
|
-
|
186
|
-
|
||||||||||||||||||
Changes in assets and liabilities:
|
||||||||||||||||||||||||
Increase (decrease) in trade receivables and other receivables
|
5,395
|
(9,084
|
)
|
16,642
|
(5,858
|
)
|
1,458
|
(2,456
|
)
|
|||||||||||||||
increase in inventories
|
(26,373
|
)
|
(14,349
|
)
|
(2,706
|
)
|
(7,341
|
)
|
(7,128
|
)
|
(3,878
|
)
|
||||||||||||
Increase (decrease) in trade and other payables, and other current liabilities
|
(5,759
|
)
|
693
|
(8,323
|
)
|
(2,470
|
)
|
(1,556
|
)
|
187
|
||||||||||||||
Cash generated from operations
|
(23,625
|
)
|
(16,147
|
)
|
4,899
|
(7,646
|
)
|
(6,385
|
)
|
(4,365
|
)
|
|||||||||||||
Income tax paid
|
(8,417
|
)
|
(8,101
|
)
|
(5,083
|
)
|
(5,254
|
)
|
(2,275
|
)
|
(2,189
|
)
|
||||||||||||
Net cash flows from operating activities
|
(32,042
|
)
|
(24,248
|
)
|
(184
|
)
|
(12,900
|
)
|
(8,660
|
)
|
(6,554
|
)
|
Six months
|
Three months
|
Six months
|
||||
ended
|
ended
|
ended
|
||||
June 30,
|
June 30,
|
June 30,
|
||||
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
2 0 2 3
|
2 0 2 2
|
|
NIS
|
US dollars (*)
|
|||||
(in thousands)
|
||||||
Dividend Payable
|
29,949
|
19,966
|
-
|
-
|
8,094
|
5,396
|
1 Year G Willi Food Chart |
1 Month G Willi Food Chart |
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