Prnewswireยท2025-03-11 15:29Core Viewpoint - G. Willi-Food International Ltd. reported record high annual profit before tax of NIS 92.7 million (US$ 25.4 million) for the fiscal year 2024, despite facing significant challenges due to the "Iron Sword" war in Israel and supply chain disruptions [1][14]. Fiscal Year 2024 Highlights - Sales increased by 6.0% to NIS 575.8 million (US$ 157.9 million) from NIS 543.3 million (US$ 149.0 million) in fiscal year 2023 [6][10]. - Gross profit rose by 33.8% to NIS 161.3 million (US$ 44.2 million), representing 28.0% of revenues, compared to NIS 120.6 million (US$ 33.1 million) or 22.2% of revenues in fiscal year 2023 [7][10]. - Operating profit before other expenses increased by 228.2% to NIS 66.3 million (US$ 18.2 million), or 11.5% of revenues, from NIS 20.2 million (US$ 5.5 million) in fiscal year 2023 [9][10]. - Net profit surged by 121.8% to NIS 70.3 million (US$ 19.3 million), with basic earnings per share of NIS 5.07 (US$ 1.39) [10][14]. Management Commentary - Management expressed satisfaction with the financial results, highlighting the successful import of sufficient inventory and a focus on a more profitable product mix despite operational challenges [3][4]. - The company is optimistic about continued improvement and growth in 2025 and beyond [5]. Financial Performance Summary - Selling expenses decreased by 6.7% to NIS 68.9 million (US$ 18.9 million), or 12.0% of revenues, from NIS 73.9 million (US$ 20.3 million) in fiscal year 2023 [8][10]. - General and administrative expenses remained stable at NIS 26.2 million (US$ 7.2 million), or 4.6% of revenues [8]. - Financial income, net for fiscal year 2024 totaled NIS 37.8 million (US$ 10.4 million), compared to NIS 18.8 million (US$ 5.2 million) in fiscal year 2023 [13]. Future Outlook - The company is constructing a new advanced logistics center expected to be completed by the end of 2025, which aims to enhance logistical capabilities and enable expansion into new product categories [4].