Welcome to our dedicated page for G. Willi-Food International Ltd. news (Ticker: WILC), a resource for investors and traders seeking the latest updates and insights on G. Willi-Food International Ltd. stock.
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 (NASDAQ: WILC) announced its unaudited Q1 2024 financial results, showing a 10.1% decrease in sales to NIS 136.0 million (USD 37.0 million) compared to Q1 2023.
Gross profit fell by 13.5% to NIS 34.7 million (USD 9.4 million), and operating profit declined by 10.7% to NIS 11.6 million (USD 3.2 million).
However, net profit surged by 72.2% to NIS 18.6 million (USD 5.1 million), mainly due to a significant increase in financial income to NIS 11.5 million (USD 3.1 million).
The company ended Q1 2024 with a cash and securities balance of NIS 244.4 million (USD 66.4 million).
Willi-Food continues to navigate challenges, including delays in goods arrival and increased costs, while working on improving commercial terms and constructing a new logistics center expected to complete by end of 2025.
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