REPORTS AN IMPROVEMENTS IN ITS GROSS AND OPERATING PROFIT AND MARGINS.
YAVNE, Israel, Nov. 17, 2025 /PRNewswire/ -- G. Willi-Food International Ltd. $(WILC)$ (the "Company" or "Willi-Food"), a global company that specializes in the development, marketing and international distribution of kosher foods, today announced its unaudited financial results for the third quarter ended September 30, 2025.
Third Quarter Fiscal Year 2025
-- Sales for the third quarter were NIS 152.8 million (US$ 46.2 million)
remaining at the same level compared to the third quarter of 2024.
-- Gross profit increased by 2.6% year-over-year to NIS 43.1 million (US$
13.0 million).
-- Operating profit increased by 4.1% year-over-year to NIS 18.3 million
(US$ 5.5 million).
-- Net profit for the third quarter was NIS 19.2 million (US$ 5.8 million).
-- Basic earnings per share of NIS 1.4 (US$ 0.4).
-- Cash and securities balance of NIS 225.4 million (US$ 68.2 million) as of
September 30, 2025.
Management Comment
Zwi Williger & Joseph Williger, Chairman & CEO, respectively, of Willi-Food, commented:
"We are pleased to present G. Willi-Food International's third quarter 2025 results, as well as strong results for the nine-month period ended September 30, 2025. The Company delivered improved gross and operating profit margins compared to the same periods last year, alongside strong sales performance.
"Despite approximately three fewer working days during the quarter, we succeeded in maintaining the same level of sales, reflecting the strength and resilience of our operations.
"Following the cessation of the war in Gaza, the decline in exchange rates have further supported our ability to improve import prices and strengthen the competitive alternative that Willi-Food offers to the market. The constructed new refrigerated logistics center is progressing as planned, and we expect to open the center toward the end of the first quarter of 2026. This advanced facility represents a significant milestone for the Company, as it is expected to enhance our logistical capabilities to support entry into new food categories, increase product availability, expand existing lines, and achieve meaningful cost efficiencies.
"We remain optimistic about the continued positive momentum, driven by our operational excellence, strategic investments, and the dedication of our team, as we continue to build long-term value for our shareholders."
Third Quarter Fiscal 2025 Summary
Sales for the third quarter of 2025 were NIS 152.8 million (US$ 46.2 million). The Company maintained the same level of sales compared to third quarter of 2024 despite a lower number of working days in the quarter compared to the corresponding period last year.
Gross profit for the second quarter of 2025 increased by 2.6% to NIS 43.1 million (US$ 13.0 million), or 28.2% of revenues, compared to NIS 42.0 million (US$ 12.7 million), or 27.5% of revenues in the third quarter of 2024. The increases in gross profit and gross margins were due to the Company's efforts to improve its commercial terms with its suppliers and focusing on selling a more profitable products portfolio.
Selling expenses for the third quarter of 2025 were NIS 18.0 million (US$ 5.4 million), remaining at the same level compared to third quarter of 2024.
General and administrative expenses for the third quarter of 2025 were NIS 6.9 million (US$ 2.1 million), remaining at the same level compared to third quarter of 2024.
Operating profit for the third quarter of 2025 increased by 4.1% to NIS 18.3 million (US$ 5.5 million), compared to NIS 17.6 million (US$ 5.3 million) in the third quarter of 2024. The increase was primarily due to the increase in gross profit.
Financial income, net for the third quarter of 2025 totaled NIS 6.7 million (US$ 2.0 million), compared to NIS 9.1 million (US$ 2.6 million) in the third quarter of 2024. Financial income for the third quarter of 2025 was comprised mainly from revaluation of the Company's portfolio of securities to in the amount of NIS 5.4 million (US$ 1.6 million) and from interest and dividend income from the Company's portfolio of securities in an amount of NIS 2.0 million (US$ 0.6 million).
Willi-Food's income before taxes for the third quarter of 2025 was NIS 25.0 million (US$ 7.6 million), compared to NIS 26.7 million (US$ 8.1 million) in the third quarter of 2024.
Willi-Food's net profit in the third quarter of 2025 was NIS 19.2 million (US$ 5.8 million), or NIS 1.4 (US$ 0.4) per share, compared to NIS 20.8 million (US$ 6.3 million), or NIS 1.5 (US$ 0.5) per share, in the third quarter of 2024.
Willi-Food ended the third quarter of 2025 with NIS 225.4 million (US$ 68.2 million) in cash and securities. Net cash resulted from operating activities for the third quarter of 2024 was NIS 225.7 million (US$ 68.3 million).
First Nine Months Fiscal 2025 Highlights
-- Sales increased by 5.2% to NIS 458.2 million (US$ 138.6 million),
compared to NIS 435.5 million (US$ 131.7 million) in the first nine
months of 2024.
-- Gross profit increased by 7.5% year-over-year to NIS 131.7 million (US$
39.8 million).
-- Operating profit before other expenses (income) increased by 16.7%
year-over-year to NIS 58.8 million (US$ 17.8 million).
-- Operating profit after other expenses (income) increased by 51.6%
year-over-year to NIS 58.9 million (US$ 17.8 million).
-- Net profit increased by 52.9% year-over-year to NIS 70.6 million (US$
21.3 million), or 15.4% of sales.
-- Basic earnings per share of NIS 5.1 (US$ 1.5).
First Nine Months Fiscal 2025 Summary
Sales for the nine-month period ending September 30, 2025, increased by 5.2% to NIS 458.2 million (US$ 138.6 million), compared to NIS 435.5 million (US$ 131.7 million) recorded in the first nine months of 2024. The Company attributes the growth in sales primarily to an increase in inventory levels and improved product availability, which supported the growing demand for its products. The increase also reflects higher demand for the Company's product portfolio and an increase in private label sales for large retail chains.
Gross profit for the first nine months of 2025 increased by 7.5% to NIS 131.7 million (US$ 39.8 million), or 28.7% of revenues, compared to NIS 122.5 million (US$ 37.1 million), or 28.1% of revenues, in the first nine months of 2024. The increases in gross profit and gross margins were due to the increase in the Company's sales and due to the Company's efforts to improve its commercial terms with its customers and suppliers and focusing on selling a more profitable products portfolio.
Selling expenses for the first nine months of 2025 decreased by 1.7% to NIS 51.9 million (US$ 15.7 million), compared to NIS 52.8 million (US$ 16.0 million) in the first nine months of 2024. The decrease was mainly due to reduce in advertising and promotion expenses.
General and administrative expenses for the first nine months of 2025 increased by 8.7% to NIS 21.1 million (US$ 6.4 million), compared to NIS 19.4 million (US$ 5.9 million). The increase was mainly due to the provision for profit-based compensation to senior management resulting from the increase in operating profit and from share-based payment program.
Operating profit before other expenses (income) for the first nine months of 2025 increased by 16.7% to NIS 58.8 million (US$ 17.8 million), compared to NIS 50.4 million (US$ 15.2 million) in the first nine months of 2024. The increase was primarily due to the increase in gross profit.
There were no other expenses for the first nine months of 2025. Other expenses for the corresponding period were NIS 11.6 million (US$ 3.5 million) in respect of the agreement reached by the Company with the Israel Competition Authority for the payment of an administrative fine. For further details, please see the Company's report on Form 6-K submitted to the Securities and Exchange Commission on July 17, 2024.
Operating profit after other expenses (income) for the first nine months of 2025 increased by 51.6% to NIS 58.9 million (US$ 17.8 million), compared to NIS 38.8 million (US$ 11.7 million) in the first nine months of 2024. The increase was primarily due to the increase in gross profit, a decrease in operating expenses, and the administrative fine of NIS 11.6 million (US$ 3.1 million) recorded in the first half of 2024.
Financial income, net for the first nine months of 2025 totaled NIS 31.9 million (US$ 9.6 million), compared to NIS 23.2 million (US$ 7.0 million) in the first nine months of 2024. Financial income, net for the first nine months of 2025 was comprised mainly from revaluation of the Company's portfolio of securities to in the amount of NIS 25.1 million (US$ 7.6 million) and from interest and dividend income from the Company's portfolio of securities in an amount of NIS 9.0 million (US$ 2.7 million).
Willi-Food's income before taxes for the first nine months of 2025 was NIS 90.8 million (US$ 27.5 million), compared to NIS 62.1 million (US$ 18.8 million) in the first nine months of 2024.
Willi-Food's net profit in the first nine months of 2025 was NIS 70.6 million (US$ 21.3 million), or NIS 5.1 (US$ 1.5) per share, compared to NIS 46.2 million (US$ 14.0 million), or NIS 3.3 (US$ 1.0) per share, recorded in the first nine months of 2024.
NOTE A: NIS to US$ exchange rate used for convenience only
Convenience translation of New Israeli Shekels (NIS) into U.S. dollars was made at the rate of exchange prevailing on September 30, 2025, with U.S. $1.00 equal to NIS 3.306. The translation is made solely for the convenience of the reader.
NOTE B: IFRS
The Company's consolidated financial results for the three-month period ended September 30, 2025 are presented in accordance with International Financial Reporting Standards ("IFRS").
ABOUT G. WILLI-FOOD INTERNATIONAL LTD.
G. Willi-Food International Ltd. 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 3,500 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 the 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 construction 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: delays in the construction of the Company's new logistics center and the risk that its expected benefits will not materialize; 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 or 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 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, 2024, filed with the Securities and Exchange Commission on March 17, 2025. 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.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
September 30, December 31 September 30, December 31
---------------- ----------- ---------------- -----------
2 0 2 5 2 0 2 4 2 0 2 4 2 0 2 5 2 0 2 4 2 0 2 4
------- ------- ----------- ------- ------- -----------
NIS US dollars (*)
----------------------------- -----------------------------
(in thousands)
------------------------------------------------------------
ASSETS
----------------
Current assets
Cash and cash
equivalents 104,449 111,262 122,938 31,594 33,655 37,186
Financial assets
carried at fair
value through
profit or loss 120,920 114,437 123,189 36,576 34,615 37,262
Trade
receivables 173,476 178,047 171,331 52,473 53,856 51,824
Other
receivables and
prepaid
expenses 4,034 9,543 7,384 1,220 2,887 2,234
Inventories 108,411 97,796 98,234 32,792 29,581 29,714
Current tax
assets 1,569 5,385 744 475 1,629 225
------- ------- ----------- ------- ------- -----------
Total current
assets 512,859 516,470 523,820 155,130 156,223 158,445
------- ------- ----------- ------- ------- -----------
Non-current
assets
Property, plant
and equipment 197,167 154,438 168,217 59,639 46,714 50,882
Less -
Accumulated
depreciation 61,975 58,035 58,349 18,746 17,554 17,649
------- ------- ----------- ------- ------- -----------
135,192 96,403 109,868 40,893 29,160 33,233
------- ------- ----------- ------- ------- -----------
Right of use
asset 4,948 4,504 4,814 1,497 1,362 1,456
Financial assets
carried at fair
value through
profit or loss 50,113 45,851 47,842 15,158 13,869 14,471
Goodwill 36 36 36 11 11 11
------- ------- ----------- ------- ------- -----------
Total
non-current
assets 190,289 146,794 162,560 57,559 44,402 49,171
------- ------- ----------- ------- ------- -----------
703,148 663,264 686,380 212,689 200,625 207,616
======= ======= =========== ======= ======= ===========
EQUITY AND
LIABILITIES
----------------
Current
liabilities
Current
maturities of
lease
liabilities 2,181 2,112 2,179 660 639 659
Trade payables 27,402 30,968 28,203 8,289 9,367 8,531
Employees
Benefits 4,531 4,264 4,532 1,371 1,290 1,371
Other payables
and accrued
expenses 17,827 25,932 25,015 5,392 7,844 7,566
------- ------- ----------- ------- ------- -----------
Total current
liabilities 51,941 63,276 59,929 15,712 19,140 18,127
------- ------- ----------- ------- ------- -----------
Non-current
liabilities
Lease
liabilities 2,931 2,684 2,521 887 812 763
Deferred taxes 12,558 7,455 9,888 3,799 2,255 2,991
Retirement
benefit
obligation 1,102 1,055 1,102 333 319 333
------- ------- ----------- ------- ------- -----------
Total
non-current
liabilities 16,591 11,194 13,511 5,019 3,386 4,087
------- ------- ----------- ------- ------- -----------
Shareholders'
equity
Share capital 1,491 1,490 1,491 451 451 451
Additional paid
in capital 174,101 172,981 173,062 52,661 52,324 52,348
Remeasurement of
the net
liability in
respect of
defined benefit (256) (154) (256) (77) (47) (77)
Capital fund 247 247 247 75 75 75
Retained
earnings 459,661 414,858 439,024 139,038 125,486 132,795
Treasury shares (628) (628) (628) (190) (190) (190)
------- ------- ----------- ------- ------- -----------
Equity
attributable to
owners of the
Company 634,616 588,794 612,940 191,958 178,099 185,402
------- ------- ----------- ------- ------- -----------
703,148 663,264 686,380 212,689 200,625 207,616
======= ======= =========== ======= ======= ===========
(*) Convenience translation into U.S. dollars.
G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Nine months Three months Nine months
ended ended ended
September 30, September 30, September 30,
---------------------- ---------------------- ----------------------
2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4
---------- ---------- ---------- ---------- ---------- ----------
NIS US dollars (*)
---------------------------------------------- ----------------------
In thousands (except per share and share data)
----------------------------------------------------------------------
Sales 458,169 435,493 152,849 152,799 138,587 131,728
Cost of sales 326,424 312,956 109,781 110,837 98,737 94,663
---------- ---------- ---------- ---------- ---------- ----------
Gross profit 131,745 122,537 43,068 41,962 39,850 37,065
---------- ---------- ---------- ---------- ---------- ----------
Operating costs
and expenses:
Selling
expenses 51,874 52,758 17,955 17,707 15,691 15,958
General and
administrative
expenses 21,090 19,410 6,919 6,725 6,379 5,871
---------- ---------- ---------- ---------- ---------- ----------
Operating
profit before
other expenses
(income) 58,781 50,369 18,194 17,530 17,780 15,236
---------- ---------- ---------- ---------- ---------- ----------
Other expenses
(income) (95) 11,522 (95) (47) (29) 3,485
---------- ---------- ---------- ---------- ---------- ----------
Operating
profit after
other expenses
(income) 58,876 38,847 18,289 17,577 17,809 11,751
---------- ---------- ---------- ---------- ---------- ----------
Financial
income 34,052 24,568 7,448 9,416 10,300 7,431
Financial
expense (2,149) (1,345) (726) (314) (650) (407)
---------- ---------- ---------- ---------- ---------- ----------
Total financial
income 31,903 23,223 6,722 9,102 9,650 7,024
---------- ---------- ---------- ---------- ---------- ----------
Income before
taxes on
income 90,779 62,070 25,011 26,679 27,459 18,775
---------- ---------- ---------- ---------- ---------- ----------
Taxes on income (20,223) (15,919) (5,834) (5,929) (6,117) (4,815)
---------- ---------- ---------- ---------- ---------- ----------
Profit for the
period 70,556 46,151 19,177 20,750 21,342 13,960
========== ========== ========== ========== ========== ==========
Earnings per
share:
Basic earnings
per share 5.07 3.33 1.38 1.50 1.53 1.01
Diluted
earnings per
share 5.06 3.33 1.38 1.50 1.53 1.01
========== ========== ========== ========== ========== ==========
Shares used in
computation of
basic EPS 13,923,365 13,867,017 13,923,365 13,867,017 13,923,365 13,867,017
========== ========== ========== ========== ========== ==========
Shares used in
computation of
diluted EPS 13,940,365 13,867,017 13,940,365 13,867,017 13,940,365 13,867,017
========== ========== ========== ========== ========== ==========
Actual number
of shares 13,923,365 13,867,017 13,923,365 13,867,017 13,923,365 13,867,017
========== ========== ========== ========== ========== ==========
(*) Convenience translation into U.S. dollars.
G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Nine months Three months Nine months
ended ended ended
September 30, September 30, September 30,
------------------ ------------------ -----------------
2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4
-------- -------- -------- -------- -------- -------
NIS US dollars (*)
-------------------------------------- -----------------
(in thousands)
---------------------------------------------------------
CASH FLOWS -
OPERATING
ACTIVITIES
-------------------
Profit from
continuing
operations 70,556 46,151 19,177 20,750 21,342 13,960
Adjustments to
reconcile net
profit to net cash
used to continuing
operating
activities
(Appendix A) (31,767) (30,029) 17,063 10,323 (9,611) (9,083)
-------- -------- -------- -------- -------- -------
Net cash from
continuing
operating
activities 38,789 16,122 36,240 31,073 11,731 4,877
-------- -------- -------- -------- -------- -------
CASH FLOWS -
INVESTING
ACTIVITIES
-------------------
Acquisition of
property plant and
equipment (4,356) (4,278) (2,553) (804) (1,318) (1,294)
Acquisition of
property plant and
equipment under
construction (25,093) (29,399) (6,897) (11,137) (7,590) (8,893)
Proceeds from sale
of property plant
and Equipment 95 143 95 27 29 43
Proceeds from sale
of marketable
securities, net 24,647 1,074 3,887 (3,138) 7,455 325
-------- -------- -------- -------- -------- -------
Net cash used in
(from) continuing
investing
activities (4,707) (32,460) (5,468) (15,052) (1,424) (9,819)
-------- -------- -------- -------- -------- -------
CASH FLOWS -
FINANCING
ACTIVITIES
-------------------
Lease liability
payments (1,427) (1,513) (439) (426) (432) (458)
Dividend (49,919) (9,982) (19,966) - (15,100) (3,019)
-------- -------- -------- -------- -------- -------
Net cash used in
continuing
financing
activities (51,346) (11,495) (20,405) (426) (15,532) (3,477)
-------- -------- -------- -------- -------- -------
Increase (decrease)
in cash and cash
equivalents (17,264) (27,833) 10,367 15,595 (5,222) (8,419)
Cash and cash
equivalents at the
beginning of the
financial period 122,938 137,466 94,334 94,972 37,186 41,581
Exchange gains
(loss) on cash and
cash equivalents (1,225) 1,629 (252) 695 (371) 493
-------- -------- -------- -------- -------- -------
Cash and cash
equivalents of the
end of the
financial year 104,449 111,262 104,449 111,262 31,594 33,655
======== ======== ======== ======== ======== =======
(*) Convenience Translation into U.S. Dollars.
G. WILLI-FOOD INTERNATIONAL LTD.
APPENDIX A TO CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
CASH FLOWS - OPERATING ACTIVITIES :
A. Adjustments to reconcile net profit to net cash from operating activities:
Nine months Three months Nine months
------------------ ---------------- -----------------
ended ended ended
------------------ ---------------- -----------------
September 30, September 30, September 30,
------------------ ---------------- -----------------
2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4 2 0 2 5 2 0 2 4
-------- -------- ------- ------- ------- --------
NIS US dollars (*)
------------------------------------ -----------------
(in thousands)
-------------------------------------------------------
Increase in deferred
income taxes 2,670 2,587 549 1,374 808 783
Unrealized gains on
marketable
securities (24,646) (13,058) (5,293) (6,237) (7,457) (3,950)
Depreciation and
amortization 5,829 5,583 2,056 2,939 1,763 1,689
Stock based
compensation
reserve 1,039 392 615 101 314 119
Capital gain on
disposal of property
plant and equipment (95) (143) (95) (143) (29) (43)
Exchange loss (gain)
on cash and cash
equivalents 1,225 (1,629) 252 (695) 371 (493)
Changes in assets and
liabilities:
Decrease (increase)
in trade receivables
and other
receivables 17,135 (1,764) 23,819 (425) 5,183 (534)
Decrease (increase)
in inventories (10,177) (35,321) 8,082 24,112 (3,079) (10,684)
Increase (decrease)
in trade and other
payables, and other
current liabilities (7,990) 24,495 (5,706) (6,093) (2,417) 7,409
-------- -------- ------- ------- ------- --------
Cash generated from
(used in)
operations (15,010) (18,858) 24,279 14,933 (4,543) (5,704)
Income tax paid (16,757) (11,171) (7,216) (4,610) (5,068) (3,379)
-------- -------- ------- ------- ------- --------
Net cash flows from
(used in) operating
activities (31,767) (30,029) 17,063 10,323 (9,611) (9,083)
======== ======== ======= ======= ======= ========
(*) Convenience Translation into U.S. Dollars.
This information is intended to be reviewed in conjunction with the Company's filings with the Securities and Exchange Commission.
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.
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November 17, 2025 06:00 ET (11:00 GMT)
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