G. WILLI-FOOD INTERNATIONAL REPORTS THE RESULTS OF SECOND QUARTER 2024

Core Viewpoint - G. Willi-Food International Ltd. reported significant financial improvements in the second quarter of 2024, with increases in sales, gross profit, and net profit compared to the same period in 2023, despite facing an administrative fine [1][2][3]. Second Quarter Fiscal Year 2024 Summary - Sales increased by 13.5% to NIS 146.7 million (US$ 39.0 million) from NIS 129.2 million (US$ 34.4 million) in Q2 2023 [1][3]. - Gross profit rose by 76.2% year-over-year to NIS 45.9 million (US$ 12.2 million), representing 31.3% of revenues, compared to 20.2% in Q2 2023 [1][3]. - Operating profit before other expenses surged by 2,080.2% to NIS 21.2 million (US$ 5.6 million) from NIS 1.0 million (US$ 0.3 million) in Q2 2023 [1][3]. - Operating profit after other expenses increased by 891.2% to NIS 9.6 million (US$ 2.6 million) from NIS 1.0 million (US$ 0.3 million) in Q2 2023 [1][3]. - Net profit grew by 40.6% year-over-year to NIS 6.8 million (US$ 1.8 million), or NIS 0.5 (US$ 0.1) per share, compared to NIS 4.9 million (US$ 1.3 million) in Q2 2023 [1][3]. First Half Fiscal Year 2024 Highlights - Sales for the first half of 2024 increased by 0.7% to NIS 282.7 million (US$ 75.2 million) from NIS 280.6 million (US$ 74.6 million) in the first half of 2023 [4][5]. - Gross profit for the first half rose by 21.9% to NIS 80.6 million (US$ 21.4 million), or 28.5% of revenues, compared to 23.6% in the first half of 2023 [4][5]. - Operating profit before other expenses increased by 135.0% to NIS 32.8 million (US$ 8.7 million) from NIS 14.0 million (US$ 3.7 million) in the first half of 2023 [4][6]. - Net profit for the first half increased by 61.6% to NIS 25.4 million (US$ 6.8 million), or NIS 1.8 (US$ 0.5) per share, compared to NIS 15.7 million (US$ 4.2 million) in the first half of 2023 [4][6]. Management Commentary - Management expressed satisfaction with the financial results, highlighting improvements in all operational parameters and the successful compensation for earlier sales declines through increased inventory and product availability [2].