G. WILLI-FOOD INTERNATIONAL REPORTS THE RESULTS OF SECOND QUARTER 2026 WITH SIGNIFICANT IMPROVEMENTS WITH OPERATIONAL PROFIT PARAMETERS
Rhea-AI Summary
G. Willi-Food International (NASDAQ: WILC) reported unaudited results for the quarter and six months ended June 30, 2026. Q2 2026 sales were NIS 160.5 million, flat year-over-year, while gross profit rose 21.5% to NIS 53.5 million (33.3% margin) and operating profit increased 22.7% to NIS 25.3 million (15.8% margin). Net profit declined 33.9% to NIS 21.1 million, mainly due to much lower gains from marketable securities, with basic EPS of NIS 1.5.
For H1 2026, sales grew 4.0% to NIS 317.4 million, gross profit increased 15.5% to NIS 102.5 million (32.3% margin) and operating profit rose 11.7% to NIS 45.4 million. Net profit fell 20.0% to NIS 41.1 million (EPS NIS 3.0). The company reported cash and securities of NIS 257.6 million and shareholders’ equity of NIS 675.4 million, and expects its new refrigerated logistics center to become operational in Q4 2026.
Positive
- Q2 2026 gross profit up 21.5% to NIS 53.5m, 33.3% margin
- Q2 2026 operating profit up 22.7% to NIS 25.3m, 15.8% margin
- H1 2026 sales up 4.0% to NIS 317.4m
- H1 2026 gross profit up 15.5% to NIS 102.5m, 32.3% margin
- H1 2026 operating profit up 11.7% to NIS 45.4m
- Cash and securities NIS 257.6m; operating cash flow in Q2 NIS 38.7m
Negative
- Q2 2026 net profit down 33.9% to NIS 21.1m
- H1 2026 net profit down 20.0% to NIS 41.1m
- Net financial income H1 fell to NIS 7.7m from NIS 25.2m
- Q2 selling expenses up 18.5% to NIS 19.9m (12.4% of revenue)
- Q2 G&A expenses up 25.3% to NIS 8.3m (5.2% of revenue)
News Explained
Despite first-half delays, management still expects the refrigerated logistics center to become operational in Q4 2026.
For the six months ended
The disclosed cash flows show operating cash being directed to both the logistics build-out and shareholder distributions during the period, rather than being retained entirely as cash.
Management said construction of the refrigerated logistics center had experienced delays during the first and second quarters but was progressing steadily.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 26 | Q1 earnings report | Positive | -0.5% | Sales, gross profit and net profit increased year-over-year. |
| Mar 24 | Dividend distribution | Positive | -1.2% | Company declared an aggregate cash dividend of NIS 22 million. |
| Mar 24 | 2025 earnings report | Positive | -1.2% | Company reported record sales, income before taxes and net profit. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Prior earnings and dividend announcements each recorded negative 24-hour reactions despite positive or shareholder-beneficial headline framing.
Key Terms
ifrs financial
marketable securities financial
fair value through profit or loss financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
YAVNE,
Second Quarter Fiscal Year 2026
- Sales were NIS 160.5 million (
US ) remaining at the same level as in the second quarter of 2025.$ 53.7 million - Gross profit increased by
21.5% year-over-year toNIS 53.5 million (US ).$ 18.0 million - Operating profit increased by
22.7% year-over-year to NIS 25.3 million (US ).$ 8.5 million - Net profit decreased by
33.9% year-over-year to NIS 21.1 million (US ).$ 7.1 million - Basic earnings per share of NIS 1.5 (
US ).$ 0.5 - Cash and securities balance of NIS 257.6 million (
US ) as of June 30, 2026.$ 86.5 million
Management Comment
Zwi Williger Chairman and Joseph Williger CEO, commented: "We are pleased with the continued improvement in the Company's operating profitability, reflecting the successful execution of our strategy and our ongoing focus on a more profitable product portfolio. In addition, the appreciation of the NIS against both the
"Despite the delays experienced during the first and second quarters of 2026, we are pleased to report that construction of our new refrigerated logistics center is progressing steadily. Based on the current construction schedule, we expect the facility to become operational during the fourth quarter of 2026.
"We believe the new logistics center will serve as a significant growth engine for the Company. Beyond improving our logistics capabilities and reducing operating costs, the facility is expected to enhance our operational flexibility and support our long-term growth strategy by enabling expansion into new product categories and creating additional business opportunities.
"Looking ahead, we remain optimistic about the Company's future. Supported by our strong balance sheet, disciplined operating strategy and ongoing investments in infrastructure, we believe we are well positioned to continue generating sustainable growth and long-term value for our shareholders."
Second Quarter Fiscal 2026 Summary
Sales for the second quarter of 2026 were
Gross profit for the second quarter of 2026 increased by
Selling expenses for the second quarter of 2026 increased by
General and administrative expenses for the second quarter of 2026 increased by
Operating profit for the second quarter of 2026 increased by
Financial income, net for the second quarter of 2026 totaled
Willi-Food's income before taxes for the second quarter of 2026 was
Willi-Food's net profit in the second quarter of 2026 was
Willi-Food ended the second quarter of 2026 with
First Half Fiscal 2026 Highlights
- Sales increased by
4.0% to NIS 317.4 million (US ), compared to$ 106.6 million NIS 305.3 million (US ) in the first half of fiscal year 2025.$ 102.5 million - Gross profit increased by
15.5% year-over-year to NIS 102.5 million (US ).$ 34.4 million - Operating profit increased by
11.7% year-over-year to NIS 45.4 million (US ).$ 15.2 million - Net profit decreased by
20.0% year-over-year to NIS 41.1 million (US ), or$ 13.8 million 12.9% of sales. - Basic earnings per share of NIS 3.0 (
US ).$ 1.0
First Half Fiscal 2026 Summary
Sales for the six-month period ending June 30, 2026, increased by
Gross profit for the first half of 2026 increased by
Selling expenses for the first half of 2026 increased by
This increase was mainly due to higher transportation and maintenance expenses, increased advertising and promotion expenses, as well as higher salary expenses resulting from an increase in headcount aimed at enhancing the Company's logistics capabilities, including the onboarding and preparation of personnel for the new logistics center.
General and administrative expenses for the first half of 2026 increased by
Operating profit for the first half of 2026 increased by
Financial income, net, for the first half of 2026 totaled
Willi-Food's income before taxes for the first half of 2026 was
Willi-Food's net profit in the first half of 2026 was
NOTE A: NIS to US$ Exchange Rate Used for Convenience Only
A convenience translation of New Israeli Shekels (NIS) into
NOTE B: IFRS
The Company's consolidated financial results for the three and six month periods ended June 30, 2026, are presented in accordance with International Financial Reporting Standards ("IFRS").
ABOUT G. WILLI-FOOD INTERNATIONAL LTD.
G. Willi-Food International Ltd. (http://www.willi-food.com) is an Israeli-based company specializing in high-quality, great-tasting kosher food products. Willi-Food is engaged directly and through its subsidiaries in the design, import, marketing, and distribution of over 650 food products worldwide. As one of Israel's leading food importers, Willi-Food markets and sells its food products to over 1,500 customers and 3,000 selling points in Israel and around the world, including large retail and private supermarket chains, wholesalers, and institutional consumers. The Company's operating divisions include Willi-Food in Israel and Euro European Dairies, a wholly-owned subsidiary that designs, develops, and distributes branded kosher dairy-food products.
FORWARD-LOOKING STATEMENT
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected sales, operating results, and earnings. Forward-looking statements include statements regarding the timing of commandment of operations of the Company's new logistics center and its expected benefits. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. These risks and other factors include but are not limited to: the inability to improve commercial terms with customers and suppliers: delays in the commencement of operation of the Company's new logistics center and the risk that its expected benefits will not be materialized, inability to sustain improvements and growth in the future; monetary risks including changes in marketable securities or changes in currency exchange rates- especially the NIS/U.S. Dollar exchange rate, payment default by any of our major clients, the loss of one of more of our key personnel, changes in laws and regulations, including those relating to the food distribution industry, and inability to meet and maintain regulatory qualifications and approvals for our products, termination of arrangements with our suppliers, loss of one or more of our principal clients, increase or decrease in global purchase prices of food products, increasing levels of competition in Israel and other markets in which we do business, changes in political, economic and military conditions in Israel, particularly the recent war in Israel. Economic conditions in the Company's core markets, delays and price increases due to the attacks on global shipping routes in the Red Sea, our inability to accurately predict consumption of our products and changes in consumer preferences, our inability to protect our intellectual property rights, our inability to successfully integrate our recent acquisitions, insurance coverage not sufficient enough to cover losses of product liability claims, risks associated with product liability claims and risks associated with the start of credit extension activity. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 24, 2026. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking information contained in this press release.
G. WILLI-FOOD INTERNATIONAL LTD. | ||||||
June 30, | December 31 | June 30, | December 31 | |||
2 0 2 6 | 2 0 2 5 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | 2 0 2 5 | |
NIS | US dollars (*) | |||||
(in thousands) | ||||||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | 138,024 | 94,334 | 124,158 | 46,347 | 31,677 | 41,692 |
Financial assets carried at fair value through profit or loss | 145,085 | 119,556 | 124,591 | 48,719 | 40,146 | 41,837 |
Trade receivables | 195,389 | 191,682 | 181,762 | 65,611 | 64,366 | 61,035 |
Other receivables and prepaid expenses | 4,683 | 3,753 | 2,244 | 1,573 | 1,260 | 754 |
Inventories | 92,643 | 116,493 | 94,074 | 31,109 | 39,118 | 31,589 |
Current tax assets | 2,085 | 249 | 1,585 | 700 | 84 | 532 |
Total current assets | 577,909 | 526,067 | 528,414 | 194,059 | 176,651 | 177,439 |
Non-current assets | ||||||
Property, plant and equipment | 218,357 | 188,216 | 201,692 | 73,323 | 63,202 | 67,727 |
Less - Accumulated depreciation | 66,480 | 61,041 | 63,468 | 22,324 | 20,497 | 21,312 |
151,877 | 127,175 | 138,224 | 51,000 | 42,705 | 46,415 | |
Right of use asset | 4,008 | 4,289 | 4,562 | 1,346 | 1,440 | 1,532 |
Financial assets carried at fair value through profit or loss | 16,678 | 50,068 | 49,067 | 5,600 | 16,813 | 16,476 |
Goodwill | 36 | 36 | 36 | 12 | 12 | 12 |
Total non-current assets | 172,599 | 181,568 | 191,889 | 57,958 | 60,970 | 64,436 |
750,508 | 707,635 | 720,303 | 252,017 | 237,621 | 241,875 | |
EQUITY AND LIABILITIES | ||||||
Current liabilities | ||||||
Current maturities of lease liabilities | 2,160 | 1,848 | 2,191 | 725 | 621 | 736 |
Trade payables | 32,894 | 31,448 | 23,291 | 11,045 | 10,561 | 7,821 |
Employees Benefits | 5,565 | 4,745 | 4,861 | 1,869 | 1,593 | 1,632 |
Other payables and accrued expenses | 19,099 | 19,272 | 17,438 | 6,413 | 6,471 | 5,856 |
Total current liabilities | 59,718 | 57,313 | 47,781 | 20,052 | 19,246 | 16,045 |
Non-current liabilities | ||||||
Lease liabilities | 2,422 | 2,420 | 2,739 | 813 | 813 | 920 |
Deferred taxes | 11,597 | 12,009 | 13,331 | 3,895 | 4,033 | 4,476 |
Retirement benefit obligation | 1,361 | 1,102 | 1,361 | 457 | 370 | 457 |
Total non-current liabilities | 15,380 | 15,531 | 17,431 | 5,165 | 5,215 | 5,853 |
Shareholders' equity | ||||||
Share capital | 1,492 | 1,491 | 1,492 | 501 | 501 | 501 |
Additional paid in capital | 175,845 | 173,486 | 174,700 | 59,048 | 58,226 | 58,664 |
Remeasurement of the net liability in respect of defined benefit | (257) | (256) | (256) | (86) | (86) | (86) |
Capital fund | 247 | 247 | 247 | 83 | 83 | 83 |
Retained earnings | 498,711 | 460,451 | 479,536 | 167,465 | 154,618 | 161,026 |
Treasury shares | (628) | (628) | (628) | (211) | (211) | (211) |
Equity attributable to owners of the Company | 675,410 | 634,791 | 655,091 | 226,800 | 213,160 | 219,977 |
750,508 | 707,635 | 720,303 | 252,017 | 237,621 | 241,875 | |
(*) Convenience translation into | ||||||
G. WILLI-FOOD INTERNATIONAL LTD. | ||||||
Six months | Three months | Six months | ||||
ended | ended | ended | ||||
June 30, | June 30, | June 30, | ||||
2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | |
NIS | US dollars (*) | |||||
In thousands (except per share and share data) | ||||||
Sales | 317,423 | 305,320 | 160,532 | 160,477 | 106,589 | 102,525 |
Cost of sales | 214,962 | 216,643 | 107,023 | 116,428 | 72,183 | 72,748 |
Gross profit | 102,461 | 88,677 | 53,509 | 44,049 | 34,406 | 29,777 |
Operating costs and expenses: | ||||||
Selling expenses | 40,800 | 33,919 | 19,916 | 16,808 | 13,700 | 11,390 |
General and administrative expenses | 16,329 | 14,171 | 8,286 | 6,613 | 5,483 | 4,759 |
Operating profit before other income | 45,332 | 40,587 | 25,307 | 20,628 | 15,223 | 13,628 |
Other income | 4 | - | 4 | - | 1 | - |
Operating profit | 45,336 | 40,587 | 25,311 | 20,628 | 15,224 | 13,628 |
Financial income | 8,798 | 26,604 | 2,930 | 21,478 | 3,014 | 8,934 |
Financial expense | (1,072) | (1,423) | (923) | (1,468) | (420) | (478) |
Total financial income | 7,726 | 25,181 | 2,007 | 20,010 | 2,594 | 8,456 |
Income before taxes on income | 53,062 | 65,768 | 27,318 | 40,638 | 17,818 | 22,084 |
Taxes on income | (11,926) | (14,389) | (6,265) | (8,764) | (4,005) | (4,832) |
Profit for the period | 41,136 | 51,379 | 21,053 | 31,874 | 13,813 | 17,252 |
Earnings per share: | ||||||
Basic earnings per share | 3.0 | 3.7 | 1.5 | 2.3 | 1.0 | 1.2 |
Diluted earnings per share | 3.0 | 3.6 | 1.5 | 2.2 | 1.0 | 1.2 |
Shares used in computation of | 13,906,412 | 13,883,685 | 13,906,412 | 13,883,685 | 13,906,412 | 13,883,685 |
Shares used in computation of | 13,913,507 | 14,328,049 | 13,913,507 | 14,328,049 | 13,913,507 | 14,328,049 |
Actual number of shares | 13,906,412 | 13,883,685 | 13,906,412 | 13,883,685 | 13,906,412 | 13,883,685 |
(*) Convenience translation into
| ||||||
G. WILLI-FOOD INTERNATIONAL LTD. | ||||||
Six months | Three months | Six months | ||||
ended | ended | ended | ||||
June 30, | June 30, | June 30, | ||||
2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | |
NIS | US dollars (*) | |||||
(in thousands) | ||||||
CASH FLOWS - OPERATING ACTIVITIES | ||||||
Profit from continuing operations | 41,136 | 51,379 | 21,053 | 31,874 | 13,813 | 17,253 |
Adjustments to reconcile net profit to net cash used to continuing operating activities (Appendix A) | (2,465) | (48,830) | (4,776) | (29,636) | (827) | (16,397) |
Net cash from (used in) continuing operating activities | 38,671 | 2,549 | 16,277 | 2,238 | 12,986 | 856 |
CASH FLOWS - INVESTING ACTIVITIES | ||||||
Acquisition of property plant and equipment | (2,795) | (1,803) | (1,746) | (1,274) | (939) | (605) |
Acquisition of property plant and equipment under construction | (13,976) | (18,196) | (4,291) | (7,427) | (4,693) | (6,110) |
Proceeds from sale of property plant and Equipment | 7 | - | 7 | - | 2 | |
Proceeds from sale of marketable securities, net | 15,164 | 20,760 | 9,092 | 15,620 | 5,092 | 6,971 |
Net cash from (used in) continuing investing activities | (1,600) | 761 | 3,062 | 6,919 | (538) | 256 |
CASH FLOWS - FINANCING ACTIVITIES | ||||||
Lease liability payments | (1,064) | (988) | (467) | (408) | (357) | (332) |
Receipt of short-term loan from bank | 4,121 | - | - | - | 1,384 | - |
Payment of short-term loan from bank | (4,121) | - | (4,121) | - | (1,384) | - |
Dividend | (21,963) | (29,953) | (21,963) | (29,953) | (7,376) | (10,058) |
Net cash used in continuing financing activities | (23,027) | (30,941) | (26,551) | (30,361) | (7,733) | (10,390) |
Increase (decrease) in cash and cash equivalents | 14,044 | (27,631) | (7,212) | (21,204) | 4,715 | (9,278) |
Cash and cash equivalents at the beginning of the financial period | 124,158 | 122,938 | 145,483 | 116,870 | 41,692 | 41,282 |
Exchange gains (loss) on cash and cash equivalents | (178) | (973) | (247) | (1,332) | (60) | (327) |
Cash and cash equivalents of the end of the financial year | 138,024 | 94,334 | 138,024 | 94,334 | 46,347 | 31,677 |
(*) Convenience Translation into | ||||||
G. WILLI-FOOD INTERNATIONAL LTD. | ||||||
CASH FLOWS - OPERATING ACTIVITIES: | ||||||
A. Adjustments to reconcile net profit to net cash from operating activities: | ||||||
Six months | Three months | Six months | ||||
ended | ended | ended | ||||
June 30, | June 30, | June 30, | ||||
2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | 2 0 2 6 | 2 0 2 5 | |
NIS | US dollars (*) | |||||
(in thousands) | ||||||
Increase (decrease) in deferred income taxes | (1,734) | 2,121 | (267) | 2,303 | (582) | 712 |
Unrealized losses (gain) on marketable securities | (3,269) | (19,353) | (136) | (17,792) | (1,098) | (6,499) |
Depreciation and amortization | 3,118 | 2,693 (**) | 1,557 | 1,363 (**) | 1,047 | 904 (**) |
Depreciation expense on right-to-use assets | 1,268 | 1,080 (**) | 640 | 555 (**) | 426 | 363 (**) |
Capital gain on disposal of property plant and equipment | (7) | - | (7) | - | (2) | - |
Stock based compensation reserve | 1,144 | 424 | 556 | (128) | 384 | 142 |
Exchange losses on cash and cash equivalents | 178 | 973 | 247 | 1,332 | 60 | 327 |
Changes in assets and liabilities: | ||||||
Increase in trade receivables and other receivables | (5,811) | (6,684) | (7,725) | (8,153) | (1,951) | (2,244) |
Decrease (increase) in inventories | 1,431 | (18,259) | (330) | 6,659 | 481 | (6,131) |
Decrease in trade and other payables, and other current liabilities | 11,967 | (2,284) | 7,587 | (8,450) | 4,018 | (767) |
Cash generated from operations | 8,285 | (39,289) | 2,122 | (22,311) | 2,783 | (13,193) |
Income tax paid | (10,750) | (9,541) | (6,898) | (7,325) | (3,610) | (3,204) |
Net cash flows used in operating activities | (2,465) | (48,830) | (4,776) | (29,636) | (827) | (16,397) |
(*) Convenience Translation into | ||||||
This information is intended to be reviewed in conjunction with the Company's filings with the Securities and Exchange Commission.
Logo: https://mma.prnewswire.com/media/959267/G_Willi_Food_International_Logo.jpg
Company Contact:
G. Willi - Food International Ltd.
Yitschak Barabi
Chief Financial Officer
(+972) 8-932-1000
itsik.b@willi-food.co.il
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SOURCE G. Willi-Food International Ltd.