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G. Willi-Food International Ltd. (NASDAQ: WILC) is a leading Israeli-based importer and distributor of high-quality, kosher food products worldwide. The company, headquartered in Yavne, operates with a diverse portfolio of over 650 food items, sourced from premium international brands and suppliers.
Willi-Food's product range includes canned fruits and vegetables, pickles, bakery products, oils, pasta, rice, noodles, breakfast cereals, dried fruits, coffee whiteners, snacks, butter and butter spreads, ice creams, and cheeses. The company boasts multiple well-recognized brands such as Willi-Food, Euro European Dairies, Donna Rozza, Manchow, and many others, catering to both the retail and wholesale markets.
Despite recent economic challenges, including the appreciation of the Israeli shekel, rising goods prices, and geopolitical tensions, Willi-Food has maintained robust sales growth. In 2023, the company reported an impressive 9.0% increase in revenue, totaling NIS 543.3 million (USD 149.8 million), attributed to an expanded product range and enhanced visibility in stores.
The company continues to invest in new projects, notably a state-of-the-art logistics center expected to be completed by 2025, which will bolster its logistical capabilities and support further growth. The facility aims to streamline supply chain processes, ensuring the efficient distribution of products to over 1,500 customers and 3,000 selling points globally.
Financially, Willi-Food remains strong, ending 2023 with NIS 239.6 million (USD 66.1 million) in cash and zero debt. The company also announced a share repurchase program to enhance shareholder value, reflecting its confidence in long-term growth prospects.
Willi-Food's commitment to quality and innovation, combined with strategic market expansion and operational efficiency, positions it as a resilient player in the global kosher food market.
G. Willi-Food International Ltd. (NASDAQ: WILC) reported its fiscal year 2022 financial results, revealing a 9.7% increase in sales to NIS 498.3 million (USD 141.6 million) compared to NIS 454.2 million (USD 129.0 million) in 2021. However, operating profit decreased by 8.6% to NIS 45.1 million (USD 12.8 million) due to rising selling expenses. Gross profit rose 3.4% to NIS 143.1 million (USD 40.7 million), representing 28.7% of revenues. The company held NIS 267.4 million (USD 76.0 million) in cash, with no debt. CEO Joseph Williger highlighted plans for a new logistics center to enhance operations and expand product categories in 2023.
G. Willi-Food International Ltd. (NASDAQ: WILC) has received a building permit for a new refrigerated and frozen distribution center, with an investment of
On January 17, 2023, G. Willi-Food International Ltd. (NASDAQ: WILC) announced the appointment of Joseph Williger as CEO, succeeding Erez Viner. Williger, a controlling shareholder and former Co-Chairman, will lead the company while Viner continues in business development and logistics. The CEO appointment awaits shareholder approval, with a meeting planned shortly. Willi-Food specializes in kosher foods, marketing over 600 products globally to around 1,500 customers. The company has emphasized its commitment to quality and the strategic expansion of its logistics capabilities through Viner's continued involvement.
G. Willi-Food International Ltd. (NASDAQ: WILC) has received a non-compliance letter from Nasdaq, informing the company that it failed to hold its annual shareholder meeting within the required timeframe. The letter, dated January 4, 2023, states that the company has until February 20, 2023, to submit a plan to regain compliance. If accepted, Nasdaq may grant an extension until June 29, 2023. Willi-Food specializes in kosher food products and distributes over 600 items globally.
G. Willi-Food International Ltd. (NASDAQ: WILC) has declared a cash dividend of approximately NIS 1.08 per share, totaling NIS 15 million (around US$4.386 million). The dividend is payable to shareholders on record as of December 6, 2022, with the payment date set for December 14, 2022. Final amounts may vary due to currency conversion from NIS to US dollars. Willi-Food specializes in kosher food products and operates a vast distribution network worldwide.
G. Willi-Food International Ltd. (WILC) reported strong third quarter results for 2022, with sales increasing by 16.6% to NIS 123.9 million (US$ 34.9 million), up from NIS 106.3 million (US$ 29.9 million) in Q3 2021. Gross profit rose 15.6% to NIS 34.1 million (US$ 9.6 million). Net profit saw a remarkable 46.1% increase, reaching NIS 7.6 million (US$ 2.1 million). However, operating income decreased by 9.3% for the first nine months of fiscal 2022. The company holds a cash and securities balance of NIS 292.5 million (US$ 82.6 million).
G. Willi-Food International Ltd. (NASDAQ: WILC) has declared a cash dividend of approximately NIS 1.44 per share, totaling around NIS 20 million (about US$6 million). This dividend will be payable on September 21, 2022 to shareholders of record as of September 13, 2022. The final amount in US dollars may vary based on the conversion rate at the time of payment. G. Willi-Food specializes in the marketing and distribution of kosher food products globally.
G. Willi-Food International Ltd. (WILC) reported its financial results for Q2 2022, showing a 7.7% increase in sales to NIS 123.2 million (US$ 35.2 million). Gross profit rose by 5.0% to NIS 38.8 million (US$ 11.1 million), while operating income increased 5.5% to NIS 14.5 million (US$ 4.1 million). However, net profit dropped by 56.6% to NIS 7.2 million (US$ 2.1 million). The company ended the quarter with NIS 305.5 million (US$ 87.3 million) in cash and securities.
G. Willi-Food International Ltd. (NASDAQ: WILC) reported its first quarter financial results for 2022, with sales rising by 1.2% to NIS 118.1 million (US$ 37.2 million). However, gross profit fell by 5.5% to NIS 34.2 million (US$ 10.8 million) due to rising costs. Operating income decreased by 37.1% year-over-year to NIS 9.5 million (US$ 3.0 million), while net profit dropped 33.4% to NIS 13.6 million (US$ 4.3 million). The company ended the quarter with NIS 346.2 million (US$ 109 million) in cash and securities.
G. Willi-Food International Ltd. (WILC) reported fiscal year 2021 results, revealing total sales of NIS 454.2 million (US$ 146.0 million), unchanged from 2020. However, gross profit declined by 4.9% to NIS 138.3 million (US$ 44.5 million), impacted by rising shipping and product costs. Operating profit fell 14.3% to NIS 49.4 million (US$ 15.9 million). Despite these challenges, the company maintained a strong cash position of NIS 349.8 million (US$ 112.5 million) and has no short-term debt. Management highlighted ongoing supply chain challenges amid geopolitical tensions, affecting commodity prices.
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