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

Core Viewpoint - G. Willi-Food International Ltd. reported strong financial results for the third quarter of fiscal year 2024, with significant increases in sales, gross profit, operating profit, and net profit compared to the same period in 2023, despite challenges from geopolitical tensions affecting logistics and supply chains [2][3][10]. Financial Performance - Sales for Q3 2024 increased by 23.3% to NIS 152.8 million (US$ 41.2 million) from NIS 123.9 million (US$ 33.4 million) in Q3 2023 [2][4]. - Gross profit rose by 78.3% year-over-year to NIS 42.0 million (US$ 11.3 million), representing 27.5% of revenues, compared to 19.0% in Q3 2023 [5][10]. - Operating profit surged by 3,401.4% year-over-year to NIS 17.6 million (US$ 4.7 million) from NIS 0.4 million (US$ 0.1 million) in Q3 2023 [8][10]. - Net profit increased by 323.0% year-over-year to NIS 20.8 million (US$ 5.6 million), or NIS 1.5 (US$ 0.4) per share, compared to NIS 4.9 million (US$ 1.3 million) in Q3 2023 [10][11]. Operational Insights - The company maintained sufficient inventory levels to meet increasing product demand, which contributed to the sales growth [3][4]. - Management highlighted improvements in commercial terms with customers and suppliers as a key factor in enhancing profitability [3][5]. - A new logistics center is under construction, expected to be completed in the second half of 2025, aimed at improving operational capabilities and supporting increased product imports and sales [3][10]. Year-to-Date Performance - For the first nine months of fiscal 2024, sales increased by 7.7% to NIS 435.5 million (US$ 117.4 million) compared to NIS 404.5 million (US$ 109.0 million) in the same period of 2023 [11][13]. - Gross profit for the nine-month period rose by 36.7% year-over-year to NIS 122.5 million (US$ 33.0 million), or 28.1% of revenues [14][20]. - Operating profit before other expenses increased by 251.4% year-over-year to NIS 50.4 million (US$ 13.6 million) [16][20]. Cash and Securities - As of September 30, 2024, the company reported a cash and securities balance of NIS 225.7 million (US$ 60.8 million) [10][20].