G Willi Food International Ltd 6-K, filed Nov 25, 2022
G Willi Food International Ltd (WILCF)
6-K
2022-11-25
For: 2022-11-25
View Original
Added on
July 04, 2026
About this 6-K
G Willi Food International Ltd filed this 6-K on November 25, 2022.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of November 2022
G. Willi-Food International Ltd.
(Translation of registrant’s name into English)
4 Nahal Harif St., Yavne, Israel 81106
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
Attached hereto and incorporated by reference herein is a press release, dated November 25, 2022, titled: “G. Willi-Food International
Reports Improvements 16.6% increase in sales and increase in all profits parameters in third quarter 2022 compared to same period last year.”
This Report on Form 6-K is hereby incorporated by reference into the Company's Registration Statement on Form S-8 (File No. 333-266312).
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
| G. Willi-Food International Ltd. | |||
|
|
By:
|
/s/ Yitschak Barabi | |
| Name: Yitschak Barabi | |||
| Title: Chief Financial Officer | |||
Date: November 25, 2022
 |
 |
FOR IMMEDIATE RELEASE
G. WILLI-FOOD INTERNATIONAL REPORTS 16.6% INCREASE IN SALES
AND INCREASE IN ALL PROFIT PARAMETERS IN THIRD QUARTER 2022
COMPARED TO SAME PERIOD LAST YEAR
YAVNE, Israel – November 25, 2022
- G. Willi-Food International Ltd. (NASDAQ: 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, 2022.
Third Quarter Fiscal Year 2022
| • |
Sales increased by 16.6% to NIS 123.9 million (US$ 34.9 million) from NIS 106.3 million (US$ 29.9 million) in the third quarter of 2021.
|
| • |
Gross profit increased by 15.6% year-over-year to NIS 34.1 million (US$ 9.6 million).
|
| • |
Operating income increased by 16.7% year-over-year to NIS 9.5 million (US$ 2.7 million).
|
| • |
Net profit increased by 46.1% year-over-year to NIS 7.6 million (US$ 2.1 million(.
|
| • |
Cash and securities balance of NIS 292.5 million (US$ 82.6 million) as of September 30, 2022.
|
| • |
Basic earnings per share of NIS 0.55 (US$ 0.16).
|
Management Comment
Zwi Williger & Joseph
Williger, Co-Chairmen of the Board of Willi-Food, commented: "We are pleased to present the third quarter 2022 financial results which show significant increase in
sales and improvements with all profit parameters compared to the third quarter of 2021. During the last period, there has been increased public discourse focusing on the increasing cost of living in Israel. We believe that, this discussion
has led to a change in consumption habits of consumers, that translate to an increase with the consumption of non-branded food products replacing consumption of branded food products. We believe that our company that imports and sells mainly
high quality non-branded food products is in good position to benefit from the increased focus on the cost of living in Israel.
Third Quarter Fiscal 2022 Summary
Sales for the third quarter of 2022 increased by 16.6% to NIS 123.9 million (US$ 34.9 million) from NIS 106.3 million (US$ 29.9
million) in the third quarter of 2021. Sales increased mainly due to (i) increasing the range of the Company's products (ii) proper inventory management and (iii) improving the presence of the Company’s line of products in stores.
Gross profit for the third quarter of 2022 increased by 15.6% to NIS 34.1 million (US$ 9.6 million), or 27.5% of revenues,
compared to NIS 29.5 million (US$ 8.3 million), or 27.7% of revenues in the third quarter of 2021. The increase in gross profit was due to the increase in sales.
Selling expenses increased by 17.2% to NIS 18.7 million (US$ 5.3 million) compared to NIS 15.9 million (US$ 4.5 million) in the
third quarter of 2021. The increase was primarily due to an increase in expenses for advertising and promotion.
General and administrative expenses increased by 8.2% to NIS 5.9 million (US$ 1.7 million) compared to NIS 5.4 million (US$ 1.5
million) in the third quarter of 2021 primarily due to an increase in management compensation as a result of grants made under the Company's option plan.
Operating profit for the third quarter of 2022 increased by 16.7% to NIS 9.5 million (US$ 2.7 million) compared to NIS 8.2 million
(US$ 2.3 million) in the third quarter of 2021. The increase was primarily due to the increase in sales and gross profit.
Financial income, net totaled NIS 0.04 million (US$ 0.01 million) compared to Financial expense, net of NIS 1.6 million (US$ 0.4
million) in the third quarter of 2021.
Willi-Food’s income before taxes for the third quarter of 2022 was NIS 9.6 million (US$ 2.7 million) compared to NIS 6.6 million
(US$ 1.9 million) in the third quarter of 2021.
Willi-Food's net profit in the third quarter of 2022 was NIS 7.6 million (US$ 2.1 million), or NIS 0.55 (US$ 0.16) per share,
compared to NIS 5.2 million (US$ 1.5 million), or NIS 0.38 (US$ 0.11) per share, in the third quarter of 2021.
Willi-Food ended the third quarter of 2022 with NIS 292.5 million (US$ 82.6 million) in cash and securities. Net cash used in
operating activities for the third quarter of 2022 was NIS 12.8 million (US$ 3.6 million).
First Nine Months of Fiscal 2022 Highlights
| • |
Sales increased by 8.2% to NIS 365.1 million (US$ 103.1 million) from NIS 337.3 million (US$ 95.2 million) in the first nine months of 2021.
|
| • |
Gross profit increased by 4.4% year-over-year to NIS 107.1 million (US$ 30.2 million).
|
| • |
Operating income decreased by 9.3% year-over-year to NIS 33.5 million (US$ 9.4 million).
|
| • |
Net profit decreased by 32.6% year-over-year to NIS 28.5 million (US$ 8 million), or 7.8% of sales.
|
| • |
Basic earnings per share of NIS 2.05 (US$ 0.58).
|
First Nine Months Fiscal 2022 Summary
Sales for the first nine-months period ending September 30, 2022 increased by 8.2% to NIS 365.1 million (US$ 103.1 million)
compared to NIS 337.3 million (US$ 95.2 million) in the first nine months of 2021. Sales increased mainly due to (i) increasing the range of the Company's products, (ii) proper inventory management and (iii) improving the presence of the
Company’s line of products in stores.
Gross profit for the first nine-months of 2022 increased by 4.4% to NIS 107.1 million (US$ 30.2 million), or 29.3% of revenues,
compared to NIS 102.6 million (US$ 29.0 million), or 30.4% of revenues, in the first nine months of 2021. The increase in the gross profit was mainly due to the increased sales.
Operating profit for the first nine-months of 2022 decreased by 9.3% to NIS 33.5 million (US$ 9.4 million) from NIS 36.9 million
(US$ 10.4 million) for the first nine-months of 2021. The decrease was primarily due to an increase in expenses for advertising and promotion.
Financial income net, totaled NIS 0.9 million (US$ 0.3 million) compared to financial income, net of NIS 17.6 million (US$ 4.9
million) in the first nine months of 2021. Financial income, net for the first nine months of 2022 was comprised mainly of income from changes in exchange rates in the amount of NIS 3.5 (US$ 1.0 million), interest and dividend income from the
Company’s portfolio of securities in the amount of NIS 6.8 million (US$ 1.9 million) and expenses for revaluation of the Company’s portfolio of securities to fair value in the amount of NIS 8.9 million (US$ 2.5 million). Financial income, net
for the first nine months of 2021 was comprised mainly of income from the Company’s portfolio of securities in the amount of NIS 13.4 million (US$ 3.8 million).
Willi-Food’s income before taxes for the first nine-months of 2022 was NIS 34.4 million (US$ 9.7 million) compared to NIS 54.5
million (US$ 15.3 million) in the first nine-months of 2021.
Willi-Food's net profit in the first nine-months of 2022 was NIS 28.5 million (US$ 8 million), or NIS 2.05 (US$ 0.58) per share,
compared to NIS 42.3 million (US$ 11.9 million), or NIS 3.05 (US$ 0.86) per share, recorded in the first nine-months of 2021.
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, 2022, with U.S. $1.00 equal to NIS 3.543. 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, 2022 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 1,500 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 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: war in Ukraine, the COVID-19 pandemic, disruptions to international commercial shipping and disruptions in
commodity pricing 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, and risks associated with product liability claims. 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,
2021, filed with the Securities and Exchange Commission on March 15, 2022. 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 2
|
2 0 2 1
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
2 0 2 1
|
|||||||||||||||||||
|
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||
|
ASSETS
|
||||||||||||||||||||||||
|
Current assets
|
||||||||||||||||||||||||
|
Cash and cash equivalents
|
158,016
|
218,980
|
195,718
|
44,599
|
61,806
|
55,241
|
||||||||||||||||||
|
Financial assets carried at fair value through profit or loss
|
134,506
|
150,153
|
154,090
|
37,964
|
42,380
|
43,491
|
||||||||||||||||||
|
Trade receivables
|
147,053
|
131,779
|
134,017
|
41,509
|
37,194
|
37,826
|
||||||||||||||||||
|
Other receivables and prepaid expenses
|
3,161
|
3,969
|
4,939
|
890
|
1,121
|
1,394
|
||||||||||||||||||
|
Inventories
|
71,811
|
48,115
|
59,528
|
20,268
|
13,580
|
16,802
|
||||||||||||||||||
|
Current tax assets
|
6,042
|
4,599
|
5,780
|
1,705
|
1,298
|
1,631
|
||||||||||||||||||
|
Total current assets
|
520,589
|
557,595
|
554,072
|
146,935
|
157,379
|
156,385
|
||||||||||||||||||
|
Non-current assets
|
||||||||||||||||||||||||
|
Property, plant and equipment
|
92,067
|
87,868
|
87,245
|
25,986
|
24,800
|
24,625
|
||||||||||||||||||
|
Less - Accumulated depreciation
|
51,689
|
49,563
|
48,431
|
14,589
|
13,989
|
13,669
|
||||||||||||||||||
|
40,378
|
38,305
|
38,814
|
11,397
|
10,811
|
10,956
|
|||||||||||||||||||
|
Right of use asset
|
3,679
|
4,695
|
4,088
|
1,038
|
1,325
|
1,154
|
||||||||||||||||||
|
Financial assets carried at fair value through profit or loss
|
31,922
|
29,374
|
31,056
|
9,010
|
8,291
|
8,765
|
||||||||||||||||||
|
Goodwill
|
36
|
36
|
36
|
10
|
10
|
10
|
||||||||||||||||||
|
Total non-current assets
|
76,015
|
72,410
|
73,994
|
21,455
|
20,437
|
20,885
|
||||||||||||||||||
|
596,604
|
630,005
|
628,066
|
168,390
|
177,816
|
177,270
|
|||||||||||||||||||
|
EQUITY AND LIABILITIES
|
||||||||||||||||||||||||
|
Current liabilities
|
||||||||||||||||||||||||
|
Current maturities of lease liabilities
|
569
|
1,372
|
1,136
|
161
|
387
|
321
|
||||||||||||||||||
|
Trade payables
|
16,985
|
(**) 22,707
|
|
20,386
|
4,794
|
6,409
|
5,754
|
|||||||||||||||||
|
Employees Benefits
|
3,744
|
3,411
|
3,442
|
1,057
|
963
|
971
|
||||||||||||||||||
|
Financial liabilities at fair value through profit or loss
|
-
|
(**) 3,095
|
|
13,960
|
-
|
874
|
3,940
|
|||||||||||||||||
|
Other payables and accrued expenses
|
8,045
|
22,145
|
11,216
|
2,270
|
6,249
|
3,166
|
||||||||||||||||||
|
Total current liabilities
|
29,343
|
52,730
|
50,140
|
8,282
|
14,882
|
14,152
|
||||||||||||||||||
|
Non-current liabilities
|
||||||||||||||||||||||||
|
Lease liabilities
|
3,310
|
3,466
|
3,062
|
934
|
978
|
864
|
||||||||||||||||||
|
Deferred taxes
|
1,997
|
3,823
|
2,017
|
564
|
1,079
|
569
|
||||||||||||||||||
|
Retirement benefit obligation
|
1,811
|
1,934
|
1,615
|
511
|
546
|
456
|
||||||||||||||||||
|
Total non-current liabilities
|
7,118
|
9,223
|
6,694
|
2,009
|
2,603
|
1,889
|
||||||||||||||||||
|
Shareholders' equity
|
||||||||||||||||||||||||
|
Share capital
|
1,490
|
1,490
|
1,490
|
421
|
421
|
421
|
||||||||||||||||||
|
Additional paid in capital
|
170,760
|
170,760
|
170,760
|
48,196
|
48,196
|
48,196
|
||||||||||||||||||
|
Capital fund
|
247
|
247
|
247
|
70
|
70
|
70
|
||||||||||||||||||
|
355
|
-
|
-
|
100
|
0
|
0
|
|||||||||||||||||||
|
Treasury shares
|
(628
|
)
|
(628
|
)
|
(628
|
)
|
(177
|
)
|
(177
|
)
|
(177
|
)
|
||||||||||||
|
Retained earnings
|
388,878
|
397,505
|
400,322
|
109,760
|
112,194
|
112,990
|
||||||||||||||||||
|
Remeasurement of the net liability in respect of defined benefit
|
(959
|
)
|
(1,322
|
)
|
(959
|
)
|
(271
|
)
|
(373
|
)
|
(271
|
)
|
||||||||||||
|
Equity attributable to owners of the Company
|
560,143
|
568,052
|
571,232
|
158,099
|
160,331
|
161,229
|
||||||||||||||||||
|
596,604
|
630,005
|
628,066
|
168,390
|
177,816
|
177,270
|
|||||||||||||||||||
(*) Convenience
translation into U.S. dollars.
(**) Reclassified
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 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
|||||||||||||||||||
|
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
|
In thousands (except per share and share data)
|
||||||||||||||||||||||||
|
Sales
|
365,124
|
337,325
|
123,900
|
106,268
|
103,055
|
95,209
|
||||||||||||||||||
|
Cost of sales
|
258,029
|
234,705
|
89,829
|
76,808
|
72,828
|
66,245
|
||||||||||||||||||
|
Gross profit
|
107,095
|
102,620
|
34,071
|
29,460
|
30,227
|
28,964
|
||||||||||||||||||
|
Operating costs and expenses:
|
||||||||||||||||||||||||
|
Selling expenses
|
56,275
|
48,706
|
18,678
|
15,935
|
15,883
|
13,747
|
||||||||||||||||||
|
General and administrative expenses
|
17,349
|
17,179
|
5,856
|
5,415
|
4,897
|
4,849
|
||||||||||||||||||
|
Other income
|
-
|
200
|
-
|
63
|
-
|
57
|
||||||||||||||||||
|
Total operating expenses
|
73,624
|
65,685
|
24,534
|
21,287
|
20,780
|
18,539
|
||||||||||||||||||
|
Operating profit
|
33,471
|
36,935
|
9,537
|
8,173
|
9,447
|
10,425
|
||||||||||||||||||
|
Financial income
|
11,194
|
21,390
|
2,616
|
3,015
|
3,159
|
6,037
|
||||||||||||||||||
|
Financial expense
|
(10,296
|
)
|
(3,825
|
)
|
(2,580
|
)
|
(4,602
|
)
|
(2,906
|
)
|
(1,080
|
)
|
||||||||||||
|
Total financial income (expense)
|
898
|
17,565
|
36
|
(1,587
|
)
|
253
|
4,957
|
|||||||||||||||||
|
Income before taxes on income
|
34,369
|
54,500
|
9,573
|
6,586
|
9,700
|
15,382
|
||||||||||||||||||
|
Taxes on income
|
5,881
|
12,216
|
1,951
|
1,372
|
1,660
|
3,448
|
||||||||||||||||||
|
Profit for the period
|
28,488
|
42,284
|
7,622
|
5,214
|
8,040
|
11,934
|
||||||||||||||||||
|
Earnings per share:
|
||||||||||||||||||||||||
|
Basic/ diluted earnings per share
|
2.05
|
3.05
|
0.55
|
0.38
|
0.58
|
0.86
|
||||||||||||||||||
|
Shares used in computation of
basic/diluted EPS |
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
||||||||||||||||||
|
Actual number of shares
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
13,867,017
|
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 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
|||||||||||||||||||
|
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||
|
CASH FLOWS - OPERATING ACTIVITIES
|
||||||||||||||||||||||||
|
Profit from continuing operations
|
28,488
|
42,284
|
7,623
|
5,214
|
8,040
|
11,934
|
||||||||||||||||||
|
Adjustments to reconcile net profit to net cash used to continuing operating activities (Appendix A)
|
(18,996
|
)
|
19,524
|
5,251
|
33,372
|
(5,361
|
)
|
5,511
|
||||||||||||||||
|
Net cash used in continuing operating activities
|
9,492
|
61,808
|
12,874
|
38,586
|
2,679
|
17,445
|
||||||||||||||||||
|
CASH FLOWS - INVESTING ACTIVITIES
|
||||||||||||||||||||||||
|
Acquisition of property plant and equipment
|
(4,823
|
)
|
(4,763
|
)
|
(1,447
|
)
|
(1,130
|
)
|
(1,361
|
)
|
(1,345
|
)
|
||||||||||||
|
Proceeds from sale of marketable securities, net
|
9,833
|
2,174
|
(2,223
|
)
|
(12,987
|
)
|
2,775
|
614
|
||||||||||||||||
|
Proceeds from sale of property plant and equipment
|
-
|
200
|
-
|
63
|
-
|
56
|
||||||||||||||||||
|
Proceeds from loans granted to others
|
-
|
18,707
|
-
|
-
|
-
|
5,280
|
||||||||||||||||||
|
Net cash used in continuing investing activities
|
5,010
|
16,318
|
(3,670
|
)
|
(14,054
|
)
|
1,414
|
4,605
|
||||||||||||||||
|
CASH FLOWS - FINANCING ACTIVITIES
|
||||||||||||||||||||||||
|
Lease liability payments
|
(1,611
|
)
|
(1,605
|
)
|
(583
|
)
|
(601
|
)
|
(455
|
)
|
(453
|
)
|
||||||||||||
|
Dividend
|
(39,932
|
)
|
(59,975
|
)
|
(19,966
|
)
|
(59,975
|
)
|
(11,271
|
)
|
(16,928
|
)
|
||||||||||||
|
Net cash used to continuing financing activities
|
(41,543
|
)
|
(61,580
|
)
|
(20,549
|
)
|
(60,576
|
)
|
(11,726
|
)
|
(17,381
|
)
|
||||||||||||
|
Increase (decrease) in cash and cash equivalents
|
(27,041
|
)
|
16,546
|
(11,345
|
)
|
(36,044
|
)
|
(7,633
|
)
|
4,669
|
||||||||||||||
|
Cash and cash equivalents at the beginning of the financial period
|
195,718
|
201,822
|
171,251
|
255,510
|
55,241
|
56,964
|
||||||||||||||||||
|
Exchange losses (profit) on cash and cash equivalents
|
(10,661
|
)
|
612
|
(1,890
|
)
|
(486
|
)
|
(3,009
|
)
|
173
|
||||||||||||||
|
Cash and cash equivalents of the end of the financial year
|
158,016
|
218,980
|
158,016
|
218,980
|
44,599
|
61,806
|
||||||||||||||||||
(*) 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 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
2 0 2 2
|
2 0 2 1
|
|||||||||||||||||||
|
NIS
|
US dollars (*)
|
|||||||||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||
|
Decrease (increase) in deferred income taxes
|
(20
|
)
|
3,055
|
(201
|
)
|
660
|
(6
|
)
|
862
|
|||||||||||||||
|
Unrealized loss (gain) on marketable securities
|
8,885
|
(13,301
|
)
|
1,892
|
(1,182
|
)
|
2,508
|
(3,754
|
)
|
|||||||||||||||
|
Depreciation and amortization
|
4,958
|
4,732
|
1,660
|
1,631
|
1,399
|
1,336
|
||||||||||||||||||
|
Capital gain on disposal of property plant and equipment
|
-
|
(200
|
)
|
(63
|
)
|
(56
|
)
|
|||||||||||||||||
|
Exchange gain (losses) on cash and cash equivalents
|
10,661
|
(612
|
)
|
1,890
|
486
|
3,009
|
(173
|
)
|
||||||||||||||||
|
Unrealized gain of financial liabilities at fair value through profit or loss
|
(13,960
|
)
|
-
|
(1,310
|
)
|
-
|
(3,940
|
)
|
-
|
|||||||||||||||
|
Share-based payment expense
|
355
|
-
|
355
|
-
|
100
|
-
|
||||||||||||||||||
|
Changes in assets and liabilities:
|
||||||||||||||||||||||||
|
Increase (decrease) in trade receivables and other receivables
|
(496
|
)
|
(**) 15,183
|
|
8,588
|
(**) 785
|
|
(140
|
)
|
4,286
|
||||||||||||||
|
Decrease (increase) in inventories
|
(12,283
|
)
|
11,399
|
2,066
|
10,348
|
(3,467
|
)
|
3,217
|
||||||||||||||||
|
Increase (decrease) in trade and other payables, and other current liabilities
|
(6,073
|
)
|
12,865
|
(6,767
|
)
|
16,868
|
(1,713
|
)
|
3,631
|
|||||||||||||||
|
Income tax paid
|
(11,023
|
)
|
(**) (13,597)
|
|
(2,922
|
)
|
(**) 3,839
|
|
(3,111
|
)
|
(3,838
|
)
|
||||||||||||
|
Net cash flows from operating activities
|
(18,996
|
)
|
(**) 19,524
|
|
5,251
|
(**) 33,372
|
|
(5,361
|
)
|
5,511
|
||||||||||||||
(*) Convenience Translation into U.S. Dollars.
(**) Reclassified
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
###
SOURCE: G. Willi-Food International Ltd.