G Willi-Food International (WILC) Q3 2024 earnings summary

Executive summary

• Sales for Q3 2024 rose 23.3% year-over-year to NIS 152.8 million (US$41.2 million), driven by higher inventory and product availability.

• Gross profit surged 78.3% year-over-year to NIS 42.0 million (US$11.3 million), with gross margin improving to 27.5% from 19.0%.

• Operating profit jumped 3,401.4% year-over-year to NIS 17.6 million (US$4.7 million), mainly due to higher gross profit.

• Net profit increased 323.0% year-over-year to NIS 20.8 million (US$5.6 million), with basic EPS of NIS 1.5 (US$0.4).

• Cash and securities balance stood at NIS 225.7 million (US$60.8 million) as of September 30, 2024.

Financial highlights

• For the first nine months of 2024, sales grew 7.7% year-over-year to NIS 435.5 million (US$117.4 million).

• Gross profit for the nine months rose 36.7% to NIS 122.5 million (US$33.0 million), with gross margin at 28.1%.

• Operating profit before other expenses increased 251.4% to NIS 50.4 million (US$13.6 million); after other expenses, up 167.9% to NIS 38.8 million (US$10.5 million).

• Net profit for the nine months was NIS 46.2 million (US$12.5 million), up 123.8% year-over-year.

• Basic EPS for the nine months was NIS 3.4 (US$0.9).

Outlook and guidance

• Management expects the new logistics center, set for completion in H2 2025, to enhance logistics and operational capabilities, supporting increased imports and sales.