Intercure(US:INCR) Prnewswire·2025-05-01 20:00Core Viewpoint - InterCure Ltd. demonstrated resilience in 2024 despite significant challenges, including the impact of the October 7th attack and ongoing conflict in Gaza, achieving revenues of NIS 239 million and positive Adjusted EBITDA of NIS 24 million, while focusing on growth and recovery efforts [4][6]. Financial Performance - Revenues for the year ended December 31, 2024, were NIS 239 million, a decrease from NIS 355.6 million in 2023 [7]. - Adjusted EBITDA for 2024 was NIS 24 million, approximately 10% of revenues, compared to NIS 60.9 million in 2023 [7]. - The company ended 2024 with cash on hand of NIS 80 million [6]. Operational Highlights - InterCure's southern facility was damaged due to the October 7, 2023, attack, but the company is entitled to full compensation from Israeli authorities, having received NIS 62 million in partial payments [6]. - The company expects to continue double-digit growth throughout 2025, with a strong start to Q1 2025 projected at over NIS 70 million in revenues [6]. - InterCure is expanding its strategic partnership with Cookies™ into Germany, with product launches expected soon [6]. Market Position and Strategy - InterCure is recognized as the leading cannabis company outside North America, leveraging a vertically integrated "seed-to-sale" model [8]. - The company is enhancing its product offerings through strategic agreements and expanding its dedicated medical cannabis pharmacy chain to 25 active locations [6][8]. - The company plans to restore and expand the Nir Oz facility in collaboration with local authorities, aiming to meet global demand for its products [6].