YAVNE, Israel, Nov. 10, 2020 /PRNewswire/ -- G.
Willi-Food International Ltd. (NASDAQ: WILC) (TASE: WILF)
(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, 2020.
Third Quarter Fiscal Year 2020 Highlights
- Sales increased by 17.4% year-over-year to NIS 111.9 million (US$
32.5 million).
- Gross profit increased by 14.1% year-over-year to NIS 34.0 million (US$ 9.9
million).
- Operating profit of NIS 14.0
million (US$ 4.1 million), or
12.5% of sales, which represents a 11.8% increase from NIS 12.6 million (US$ 3.6
million) in the comparable quarter of 2019.
- Net profit increased by 112.2% year-over-year to NIS 21.9 million (US$ 6.4
million), or 19.6% of sales.
- Net cash from operating activities of NIS 28.2 million (US$ 8.2
million).
- Cash and securities balance of NIS 364.6
million (US$ 106.0 million) as
of September 30, 2020.
- Earnings per share of NIS 1.63
(US$ 0.47).
Management Comment
Zwi Williger &
Joseph Williger, Co-Chairmen of
Willi-Food, commented: "We are pleased to present very strong
third quarter 2020 financial results, which show stable growth in
Company sales and a significant improvement in all operational
profit parameters. We also very pleased that in the third quarter
the Company recorded significant gains in part from revaluating its
portfolio of securities to its fair value which led to finance
income, net of NIS 14.5 million. In
part because of this, the Company recorded its highest profit
before taxes on income and net profit ever this quarter. The
Company's strategy in the near future is to develop new products,
enter new categories with the potential for high gross profit,
improve the visibility of its products in the stores, and
strengthen its brands and supply chain. Our strong performance in
the third quarter was driven by our pursuit of this goals. We
believe that with our current management team the Company will
remain focused on achieving the goals it has set for itself and
continue improving its results in the future."
According to retail data analytics provided by StoreNext
Ltd[1], the Company recorded growth of 27.3% in the
first nine months of 2020 for "sale out" sales (in other words,
sales to the final consumer) compared to an 8.7% average increase
for the food and beverage industry as a whole.
Third Quarter Fiscal 2020 Summary
Sales for the third quarter of 2020 increased by 17.4% to
NIS 111.9 million (US$ 32.5 million) from NIS
95.4 million (US$ 27.7
million) recorded in the third quarter of 2019. Sales
increased primarily due to a redirection of resources in favor of
sales, increasing the variety of the Company's products and
improved inventory management.
Gross profit for the third quarter of 2020 increased by 14.1% to
NIS 34.0 million (US$ 9.9 million) compared to NIS 29.8 million (US$ 8.7
million) recorded in the third quarter of 2019. The increase
in gross profit was due to increase in sales.
Selling expenses increased by 17.9% to NIS 14.5 million (US$ 4.2
million) compared to NIS 12.3
million (US$ 3.6 million) in
the third quarter of 2019. The increase in selling expenses was
primarily due to an increase in payroll expenses in the logistics
department as a result of working in two shifts to comply with
government workplace restrictions due to the COVID-19 pandemic, and
an increase of freight to customers' expenses to support sales
growth.
General and administrative expenses increased by 10.5% to
NIS 5.5 million (US$ 1.6 million) compared to NIS 5.0 million (US$ 1.4
million) in the third quarter of 2019. The increase in
general and administrative expenses was primarily due to an
increase in payroll expenses.
As a result of the foregoing, operating profit for the third
quarter of 2020 increased by 11.8% to NIS
14.0 million (US$ 4.1 million)
compared to NIS 12.6 million
(US$ 3.6 million) in the third
quarter of 2019.
Finance income, net totaled NIS 14.5 million
(US$ 4.2 million) compared to
NIS 0.8 million (US$ 0.2 million) in the third quarter of 2019.
The increase in finance income, net was primarily due to an
increase in interest income and dividends received from the
Company's securities portfolio and from revaluation of the
Company's securities portfolio to its fair value.
Income before taxes on income for the third quarter of 2020
increased by 114.3% to NIS 28.5
million (US$ 8.3 million)
compared to NIS 13.3 million
(US$ 3.9 million) in the third
quarter of 2019.
Net profit in the third quarter of 2020 increased by 112.2% to
NIS 21.9 million (US$ 6.4 million), or NIS
1.63 (US$ 0.47) per share,
compared to NIS 10.3 million
(US$ 3.0 million), or NIS 0.78 (US$ 0.23)
per share, recorded in the third quarter of 2019.
Willi-Food ended the third quarter of 2020 with NIS 364.6 million (US$
106.0 million) in cash and securities. Net cash from
operating activities for the third quarter of 2020 was NIS 28.2 million (US$ 8.2
million). Willi-Food's shareholders' equity at the end of
September 2020 was NIS 572.1 million (US$
166.3 million).
First Nine Months of Fiscal 2020 Highlights
- Sales increased by 17.7% year-over-year to NIS 345.2 million (US$
100.3 million).
- Gross profit increased by 28.0% year-over-year to NIS 115.1 million (US$
33.4 million).
- Operating profit increased by 42.6% year-over-year to
NIS 49.9 million (US$ 14.5 million), or 14.5% of sales.
- Net profit increased by 2.3% to NIS 38.3
million (US$ 11.1 million), or
11.1% of sales.
- Net cash from operating activities of NIS 60 million (US$ 17.4
million).
- Earnings per share of NIS 2.88
(US$ 0.84).
First Nine Months of Fiscal 2020 Summary
Willi-Food's sales for the nine-month period ending September 30, 2020 increased by 17.7% to
NIS 345.2 million (US$ 100.3 million) compared to sales of
NIS 293.3 million (US$ 85.3 million) in the first nine months of
2019. Sales increased primarily due to the COVID-19 pandemic, which
led to an increase in demand for the Company's products, primarily
in retail chains, and due to a redirection of resources in favor of
sales, increasing the variety of the Company's products and
improved inventory management.
Gross profit for the period increased by 28.0% to NIS 115.1 million (US$
33.4 million) compared to gross profit of NIS 89.9 million (US$ 26.1
million) for the first nine months of 2019. The increase in
gross profit was primarily due to the increase in sales.
Gross margin for the first nine months of 2020 was 33.3%
compared to a gross margin of 30.6% for the same period in 2019.
The increase in gross margin was primarily due to the Company's
strategy of selling a more favorable mix of products which generate
a higher gross margin.
Operating profit for the first nine months of 2020 increased by
42.6% to NIS 49.9 million
(US$ 14.5 million) from NIS 35.0 million (US$ 10.2
million) reported in the comparable period of last
year primarily due to the increase of gross profit.
Finance income, net totaled to NIS 0.4
million (US$ 0.1 million)
compared to NIS 12.5 million
(US$ 3.6 million) in the first nine
months of 2019. At the beginning of the year as a result of the
COVID-19 pandemic, capital markets recorded sharp declines and, as
a result, the Company suffered a decline in the value of its
portfolio of securities in the first quarter of 2020. Since that
time, capital markets have recovered somewhat and as a result the
Company recorded gains from its portfolio of securities. As of the
date of publication of the financial statement, the Company has
recognized revenues from its portfolio of securities that amounted
to approximately NIS 2.5 million
(US$ 0.7 million) since the beginning
of the year.
Income before taxes for the first nine months of 2020
increased by 6.0% to NIS 50.3
million (US$ 14.6 million)
compared to NIS 47.5 million
(US$ 13.8 million) recorded in the
first nine months of 2019.
Net profit for the first nine months of 2020 increased by 2.3%
to NIS 38.3 million (US$ 11.1 million), or NIS
2.88 (US$ 0.84) per share,
from NIS 37.4 million (US$ 10.9 million), or NIS
2.83 (US$ 0.82) per share,
recorded in the first nine months of 2019.
[1] StoreNext Ltd. has a direct connection to the cash register
systems of over 2,200 points of sales, providing information
regarding 80% of real time sales data in Israel.
NOTE A: NIS to US$ exchange rate used for convenience
only
The convenience translation of New Israeli Shekels (NIS) into
U.S. dollars was made at the rate of exchange prevailing on
September 30, 2020, U.S. $1.00 equals NIS
3.44 The translation was made solely for
the convenience of the reader.
NOTE B: IFRS
The Company's consolidated financial results for the three-month
and nine-month period ended September 30,
2020 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 600 food
products worldwide. As one of Israel's leading food importers, Willi-Food
markets and sells its food products to over 1,250 customers and
2,500 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 who 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 and expected sales, operating results, and earnings.
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: 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 economic conditions in Israel, including in particular economic
conditions in the Company's core markets, 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,
2019, filed with the Securities and Exchange Commission on
March 19, 2020. 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
|
|
|
September
30,
|
December
31
|
September
30,
|
December 31
|
|
2 0 2
0
|
2 0 1
9
|
2 0 1
9
|
2 0 2
0
|
2 0 1
9
|
2 0 1
9
|
|
NIS
|
US dollars
(*)
|
|
(in
thousands)
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
214,408
|
141,685
|
121,860
|
62,310
|
41,176
|
35,414
|
Financial assets
carried at fair value
through profit or loss
|
150,197
|
142,443
|
141,543
|
43,649
|
41,396
|
41,134
|
Trade
receivables
|
136,748
|
120,895
|
133,039
|
39,741
|
35,134
|
38,663
|
Loans to
others
|
3,650
|
19,796
|
17,650
|
1,061
|
5,753
|
5,129
|
Current
tax
|
435
|
-
|
-
|
126
|
-
|
-
|
Other receivables and
prepaid expenses
|
3,646
|
4,686
|
9,360
|
1,060
|
1,361
|
2,719
|
Inventories
|
56,677
|
39,268
|
71,548
|
16,471
|
11,412
|
20,793
|
Total current
assets
|
565,761
|
468,773
|
495,000
|
164,418
|
136,232
|
143,852
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property, plant and
equipment
|
83,394
|
80,637
|
81,402
|
24,235
|
23,434
|
23,656
|
Less -Accumulated
depreciation
|
46,675
|
42,951
|
43,881
|
13,564
|
12,482
|
12,752
|
|
36,719
|
37,686
|
37,521
|
10,671
|
10,952
|
10,904
|
|
|
|
|
|
|
|
Right of use
asset
|
3,208
|
2,852
|
3,860
|
932
|
829
|
1,122
|
Financial assets
carried at fair value through profit or loss
|
9,273
|
-
|
-
|
2,695
|
-
|
-
|
Goodwill
|
36
|
36
|
36
|
10
|
10
|
10
|
Deferred
taxes
|
1,047
|
853
|
818
|
304
|
248
|
238
|
Total non-current
assets
|
50,283
|
41,427
|
42,235
|
14,612
|
12,039
|
12,274
|
|
|
|
|
|
|
|
|
616,044
|
510,200
|
537,235
|
179,030
|
148,271
|
156,126
|
EQUITY AND
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Current maturities of
lease liabilities
|
1,520
|
1,374
|
1,675
|
442
|
399
|
487
|
Current tax
liabilities
|
-
|
3,104
|
3,750
|
-
|
902
|
1,090
|
Trade
payables
|
25,325
|
12,580
|
24,650
|
7,360
|
3,656
|
7,164
|
Employees
Benefits
|
3,114
|
2,766
|
2,911
|
905
|
804
|
846
|
Other payables and
accrued expenses
|
10,509
|
10,244
|
9,195
|
3,053
|
2,977
|
2,672
|
Total current
liabilities
|
40,468
|
30,068
|
42,181
|
11,760
|
8,738
|
12,259
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Lease
liabilities
|
1,806
|
1,496
|
2,212
|
525
|
435
|
642
|
Retirement benefit
obligation
|
1,628
|
938
|
1,486
|
473
|
273
|
431
|
Total non-current
liabilities
|
3,434
|
2,434
|
3,698
|
998
|
708
|
1,073
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Share
capital
|
1,490
|
1,425
|
1,425
|
433
|
414
|
414
|
Additional paid in
capital
|
170,760
|
128,354
|
128,354
|
49,625
|
37,301
|
37,301
|
Capital
fund
|
247
|
247
|
247
|
72
|
72
|
72
|
Treasury
shares
|
(628)
|
(625)
|
(628)
|
(183)
|
(182)
|
(183)
|
Remeasurement of the
net liability in respect of defined benefit
|
(1,029)
|
(623)
|
(1,029)
|
(299)
|
(181)
|
(299)
|
Retained
earnings
|
401,302
|
348,920
|
362,987
|
116,624
|
101,401
|
105,489
|
Equity
attributable to owners of the Company
|
572,142
|
477,698
|
491,356
|
166,272
|
138,825
|
142,794
|
|
|
|
|
|
|
|
|
616,044
|
510,200
|
537,235
|
179,030
|
148,271
|
156,126
|
(*) Convenience
translation into U.S. dollars.
G. WILLI-FOOD
INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
|
Nine
months
|
Three
months
|
Nine
months
|
|
ended
|
ended
|
ended
|
|
September
30,
|
September
30,
|
September
30,
|
|
2 0
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
|
NIS
|
US dollars
(*)
|
|
In thousands
(except per share and share data)
|
|
|
|
|
|
|
|
Sales
|
345,189
|
293,298
|
111,933
|
95,364
|
100,316
|
85,236
|
Cost of
sales
|
230,133
|
203,443
|
77,902
|
65,535
|
66,880
|
59,123
|
|
|
|
|
|
|
|
Gross
profit
|
115,056
|
89,855
|
34,031
|
29,829
|
33,436
|
26,113
|
|
|
|
|
|
|
|
Operating costs
and expenses:
|
|
|
|
|
|
|
Selling
expenses
|
47,344
|
39,540
|
14,522
|
12,316
|
13,758
|
11,491
|
General and
administrative expenses
|
17,823
|
15,295
|
5,483
|
4,963
|
5,180
|
4,445
|
Other
income
|
58
|
-
|
-
|
-
|
17
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
65,109
|
54,835
|
20,005
|
17,279
|
18,921
|
15,936
|
|
|
|
|
|
|
|
Operating
profit
|
49,947
|
35,020
|
14,026
|
12,550
|
14,515
|
10,177
|
|
|
|
|
|
|
|
Financial
income
|
3,689
|
15,888
|
14,704
|
2,895
|
1,072
|
4,617
|
Financial
expense
|
3,313
|
3,428
|
231
|
2,138
|
963
|
996
|
|
|
|
|
|
|
|
Total financial
income
|
376
|
12,460
|
14,473
|
757
|
109
|
3,621
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before
taxes on income
|
50,323
|
47,480
|
28,499
|
13,307
|
14,624
|
13,798
|
Taxes on
income
|
12,007
|
10,037
|
6,582
|
2,977
|
3,489
|
2,917
|
|
|
|
|
|
|
|
Profit for the
period
|
38,316
|
37,443
|
21,917
|
10,330
|
11,135
|
10,881
|
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
|
Basic/diluted
earnings per share
|
2.88
|
2.83
|
1.63
|
0.78
|
0.84
|
0.82
|
|
|
|
|
|
|
|
Shares used in
computation of
basic/diluted EPS
|
13,289,239
|
13,217,017
|
13,433,684
|
13,217,017
|
13,289,239
|
13,217,017
|
|
|
|
|
|
|
|
Actual numbers of
shares
|
13,867,017
|
13,217,017
|
13,867,017
|
13,217,017
|
13,867,017
|
13,217,017
|
(*) Convenience translation
into U.S. dollars.
G. WILLI-FOOD
INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
|
Nine
months
|
Three
months
|
Nine
months
|
|
ended
|
ended
|
ended
|
|
September
30,
|
September
30,
|
September
30,
|
|
2 0
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
|
NIS
|
US dollars
(*)
|
|
(in
thousands)
|
|
|
|
|
|
|
|
CASH FLOWS -
OPERATING ACTIVITIES
|
|
|
|
|
|
|
Profit from
continuing operations
|
38,316
|
37,443
|
21,917
|
10,330
|
11,135
|
10,881
|
Adjustments to
reconcile net profit to net cash used in
(used to) continuing
operating activities (Appendix A)
|
21,697
|
(15,542)
|
6,289
|
8,643
|
6,305
|
(4,517)
|
|
|
|
|
|
|
|
Net cash used in
continuing operating activities
|
60,013
|
21,901
|
28,206
|
18,973
|
17,440
|
6,364
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS -
INVESTING ACTIVITIES
|
|
|
|
|
|
|
Acquisition of
property plant and equipment
|
(1,991)
|
(1,026)
|
(1,256)
|
(440)
|
(579)
|
(298)
|
Proceeds from sale
(purchase) of marketable securities, net
|
(20,669)
|
7,655
|
(23,195)
|
(2,535)
|
(6,006)
|
2,225
|
Proceeds from sale of
property plant and equipment
|
58
|
-
|
-
|
-
|
17
|
-
|
Loans granted to
others
|
-
|
(29,650)
|
-
|
(8,000)
|
-
|
(8,617)
|
Proceeds from loans
granted to others
|
14,000
|
9,854
|
-
|
4,035
|
4,069
|
2,864
|
|
|
|
|
|
|
|
Net cash used to
continuing investing activities
|
(8,602)
|
(13,167)
|
(24,451)
|
(6,940)
|
(2,499)
|
(3,826)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS -
FINANCING ACTIVITIES
|
|
|
|
|
|
|
Lease liability
payments
|
(1,334)
|
(711)
|
(507)
|
(237)
|
(388)
|
(207)
|
Shares
issue
|
42,471
|
-
|
42,471
|
-
|
12,343
|
-
|
Acquisition of
treasury shares
|
-
|
(625)
|
-
|
-
|
-
|
(181)
|
|
|
|
|
|
|
|
Net cash used in
(used to) continuing financing activities
|
41,137
|
(1,336)
|
41,964
|
(237)
|
11,955
|
(388)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in cash
and cash equivalents
|
92,548
|
7,398
|
45,719
|
11,796
|
26,896
|
2,150
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the beginning of the financial period
|
121,860
|
134,287
|
168,689
|
129,889
|
35,414
|
39,025
|
|
|
|
|
|
|
|
Cash and cash
equivalents of the end of the financial year
|
214,408
|
141,685
|
214,408
|
141,685
|
62,310
|
41,175
|
|
|
|
|
|
|
|
(*) Convenience
Translation into U.S. Dollars.
G. WILLI-FOOD
INTERNATIONAL LTD.
APPENDIX TO CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
|
|
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
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
2 0
20
|
2 0 1
9
|
|
NIS
|
US dollars
(*)
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (increase)
in deferred income taxes
|
(229)
|
2,030
|
3,153
|
485
|
(67)
|
590
|
Unrealized loss
(gain) on marketable securities
|
2,739
|
(12,196)
|
(13,532)
|
(1,927)
|
796
|
(3,544)
|
Depreciation and
amortization
|
4,221
|
3,461
|
1,470
|
1,153
|
1,227
|
1,005
|
Capital gain on
disposal of property plant and equipment
|
(58)
|
-
|
-
|
-
|
(17)
|
-
|
|
|
|
|
|
|
|
Changes in assets
and liabilities:
|
|
|
|
|
|
|
Decrease (increase)
in trade receivables and other receivables
|
1,570
|
(22,956)
|
6,271
|
235
|
456
|
(6,671)
|
Decrease in
inventories
|
14,871
|
10,021
|
4,585
|
16,603
|
4,322
|
2,912
|
Increase (decrease)
in trade and other payables,
and other current liabilities
|
(1,417)
|
4,098
|
4,342
|
(7,906)
|
(412)
|
1,191
|
|
|
|
|
|
|
|
|
21,697
|
(15,542)
|
6,289
|
8,643
|
6,305
|
(4,517)
|
|
|
|
|
|
|
|
B.
Significant non-cash transactions:
|
|
|
Nine
months
|
Three
months
|
Nine
months
|
|
ended
|
ended
|
ended
|
|
September
30,
|
September
30,
|
September
30,
|
|
2 0
20
|
2 0 1
9
|
2 0 2
0
|
2 0 1
9
|
2 0 2
0
|
2 0 1
9
|
|
NIS
|
US dollars
(*)
|
|
(in
thousands)
|
|
|
|
|
|
|
|
Supplemental cash
flow information:
|
|
|
|
|
|
|
Income tax
paid
|
16,389
|
7,686
|
5,329
|
3,232
|
4,763
|
2,234
|
|
|
|
|
|
|
|
(*) 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.