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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 third-quarter financial results for 2021, revealing a 5.1% decrease in sales year-over-year to NIS 106.3 million (US$ 32.9 million). Gross profit fell by 13.4% to NIS 29.5 million (US$ 9.1 million), while operating profit plummeted by 41.7% to NIS 8.2 million (US$ 2.5 million). Net profit declined 76.2% to NIS 5.2 million (US$ 1.6 million), and earnings per share stood at NIS 0.38 (US$ 0.12). Despite challenges, the company maintains a cash balance of NIS 219.0 million (US$ 67.8 million) and aims to enhance product visibility and expand into new, profitable categories.
G. Willi-Food International Ltd. (NASDAQ: WILC) announced a cash dividend of approximately NIS 4.33 per share, totaling NIS 60 million (about US$1.34 per share). The dividend is payable to shareholders on record as of September 10, 2021 and will be distributed on September 30, 2021. The amount may vary upon conversion from NIS to US dollars based on bank rates on September 9, 2021. Willi-Food specializes in kosher food products and sells to over 1,600 clients globally.
G. Willi-Food International Ltd. (NASDAQ: WILC) announced a new dividend distribution policy on August 16, 2021, stating that it will distribute at least 40% of its annual net profit to shareholders. The Board of Directors will determine the timing and amount of dividends based on the Company’s financial condition, cash resources, and growth plans. However, the Company does not guarantee dividend payments and may alter this policy at any time. Willi-Food is a leading kosher food provider with over 600 products available worldwide.
G. Willi-Food International Ltd. (WILC) reported a 9.8% increase in Q2 2021 sales to NIS 114.3 million (US$ 35.1 million) but a 6.5% drop in gross profit to NIS 36.9 million (US$ 11.3 million). Operating profit fell 18.8% to NIS 13.7 million (US$ 4.2 million), while total financial income surged 129.0% to NIS 7.6 million (US$ 2.3 million). Despite the challenges posed by the Covid-19 pandemic, net profit rose by 9.0% to NIS 16.6 million (US$ 5.1 million), or 14.5% of sales. The company holds a cash balance of NIS 403.0 million (US$ 123.6 million) as of June 30, 2021.
G. Willi-Food International Ltd. (NASDAQ: WILC) has announced its Annual General Meeting (AGM) to be held on August 19, 2021, at 4:00 p.m. Israel time. Key agenda items include the approval of the Acting CEO's terms, elections for external directors, re-elections for current directors, and the appointment of an independent accounting firm, BDO Ziv Haft. Shareholders holding at least 1% of voting rights can propose additional agenda items until July 19, 2021. Participation requires shareholders to be on record by July 19, 2021, with proxy forms due by August 17, 2021.
On May 12, 2021, G. Willi-Food International Ltd. (NASDAQ: WILC) announced the appointment of Erez Winner as the Acting CEO. This leadership change aims to bring fresh perspectives to the company, which specializes in kosher food development and distribution. Winner holds degrees in Political Science and has a robust background in various leadership roles, including in the military and as CEO of Carmel Winery. The company operates over 600 food products worldwide and caters to over 1,600 customers, including major retail chains.
G. Willi-Food International Ltd. (NASDAQ: WILC) reported its Q1 2021 financial results, showing a 9.6% decrease in sales to NIS 116.7 million (US$ 35.0 million), attributed to heightened demand in Q1 2020 due to COVID-19. Gross profit fell by 12.7% to NIS 36.2 million (US$ 10.9 million), while operating profit decreased by 20.9% to NIS 15.0 million (US$ 4.5 million). Despite these declines, net profit surged by 1,634.2% to NIS 20.5 million (US$ 6.1 million), driven by strong financial income. The company ended the quarter with NIS 371.3 million (US$ 111.4 million) in cash and securities.
G. Willi-Food International Ltd. (NASDAQ: WILC) reported its financial results for FY 2020, showing remarkable growth despite the COVID-19 pandemic. Sales rose by 14.8% to NIS 454.1 million (US$ 141.2 million), with gross profit increasing 17.4% to NIS 145.4 million (US$ 45.2 million). Operating profit reached NIS 57.6 million (US$ 17.9 million), a 21.7% increase. The company ended the year with NIS 356.5 million (US$ 110.9 million) in cash and no short-term debt. The strong performance was attributed to strategic product development and market visibility improvements.
G. Willi-Food International Ltd. (NASDAQ: WILC) announced the rescheduling of its fourth quarter and full year 2020 financial results release to March 25, 2021, previously set for March 15, 2021. This change was due to a typographical error. Willi-Food, based in Israel, is engaged in the international distribution of kosher food products, offering over 600 items worldwide. The company emphasizes its commitment to delivering quality food products through its extensive network of clients, including large retail chains.
G. Willi-Food International Ltd. (NASDAQ: WILC), a provider of kosher foods, will announce its Q4 and full year 2020 financial results on March 15, 2021. The company has a wide range of over 600 food products marketed to over 1,250 customers globally. Key areas include the distribution and marketing of kosher dairy products through subsidiaries. The press release includes forward-looking statements related to potential risks such as currency fluctuations, competition, and changes in economic conditions, which could impact future performance.
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