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G. WILLI-FOOD INTERNATIONAL REPORTS THE RESULTS OF FIRST QUARTER 2026

G Willi Food International Logo

News provided by

G. Willi-Food International Ltd.

May 26, 2026, 07:50 ET

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GROSS PROFIT INCREASED BY 9.7% OVER COMPARABLE PERIOD IN 2025

YAVNE, Israel, May 26, 2026 /PRNewswire/ -- 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 first quarter ended March 31, 2026.

First Quarter Fiscal Year 2026

  • Sales increased by 8.3% to NIS 157.0 million (US$ 49.6 million) from NIS 144.8 million (US$ 45.8 million) in the first quarter of 2025.
  • Gross profit increased by 9.7% year-over-year to NIS 49.0 million (US$ 15.5 million).
  • Operating profit for the first quarter of 2026 is NIS 20.0 million (US$ 6.3 million).
  • Net profit increased by 3.0% year-over-year to NIS 20.1 million (US$ 6.3 million).
  • Basic earnings per share of NIS 1.44 (US$ 0.5).
  • Cash and cash equivalents balance of NIS 274.1 million (US$ 86.6 million) as of March 31, 2026.

Management Comment

Zwi Williger, Chairman and Joseph Williger, CEO, commented: "We are pleased to begin 2026 with a strong first quarter, reflecting continued growth in both sales and profitability, driven by the consistent execution of our strategic plan.

During the quarter, we remained focused on a more profitable product mix, while ensuring high product availability to support growing demand and further strengthen our relationships with customers and suppliers. In addition, the appreciation of the NIS against the U.S. dollar and the Euro supported our cost structure as an importer, enabling us to offer competitive pricing and deliver strong value to consumers.

We continue to advance the construction of our new refrigerated logistics center. However, due to delays resulting from the ongoing war situation, the expected completion and commencement of operations of the facility is currently anticipated during the fourth quarter of 2026. We believe the new logistics center will support the Company's future growth and improve its operational efficiency.

Looking ahead, we remain optimistic and confident in our ability to continue generating sustainable growth and long-term value for our shareholders."

First Quarter Fiscal 2026 Summary

Sales for the first quarter of 2026 increased by 8.3% to NIS 157.0 million (US$ 49.6 million) from NIS 144.8 million (US$ 45.8 million) recorded in the first quarter of 2025. The increase in sales was attributed to improved product availability for customers and growing demand for the company's products.

Gross profit for the first quarter of 2026 increased by 9.7% to NIS 49.0 million (US$ 15.5 million), or 31.2% of revenues, from NIS 44.6 million (US$ 14.1 million), or 30.8% of revenues recorded in the first quarter of 2025. The increase in gross profit and gross profit margin was primarily attributable to the increase in sales, improved purchase prices of the Company's products, resulting in part from the strengthening of the NIS against the U.S. dollar and the Euro, and the Company's focus on selling a more profitable product portfolio.

Selling expenses for the first quarter of 2026 increased by 22.0% to NIS 20.9 million (US$ 6.6 million), or 13.3% of revenues, compared to NIS 17.1 million (US$ 5.4 million), or 11.8% of revenues, recorded in the first quarter of 2025. The increase was mainly due to an increase in advertising. 

General and administrative expenses for the first quarter of 2026 increased by 6.4% to NIS 8.0 million (US$ 2.5 million), or 5.1% of revenues, from NIS 7.6 million (US$ 2.4 million), or 5.2% of revenues, recorded in the first quarter of 2025. The increase was primarily driven by higher payroll expenses.

Operating profit for the first quarter of 2026 was NIS 20.0 million (US$ 6.3 million), or 12.8% of revenues, remaining at the same level as in the first quarter of 2025.

Financial income, net increased to NIS 5.7 million (US$ 1.8 million) recorded in the first quarter of 2026 compared to NIS 5.2 million (US$ 1.6 million) in the first quarter of 2025. Financial income, net for the first quarter of 2026 comprised mainly of income from revaluation of the Company's portfolio of securities to a fair value in an amount of NIS 2.9 million (US$ 0.9 million) and interest and dividend income from the Company's portfolio of securities in an amount of NIS 2.8 million (US$ 0.9 million).

Income before taxes in the first quarter of 2026 was NIS 25.7 million (US$ 8.1 million) compared to NIS 25.1 million (US$ 7.9 million) in the first quarter of 2025.

Net profit in the first quarter of 2026 was NIS 20.1 million (US$ 6.3 million), or NIS 1.44 (US$ 0.5) per share, compared to NIS 19.5 million (US$ 6.2 million), or NIS 1.41 (US$ 0.5) per share, recorded in the first quarter of 2025.

Willi-Food ended the first quarter of 2026 with NIS 274.1 million (US$ 86.6 million) in cash and securities. Net cash from operating activities for the first quarter of 2026 was NIS 22.4 million (US$ 7.1 million).

Willi-Food's shareholders' equity at the end of March 2026 was NIS 653.8 million (US$ 206.6 million).

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 March 31, 2026, with U.S. $1.00 equal to NIS 3.165 The translation was made solely for the convenience of the reader.

NOTE B: IFRS
The Company's consolidated financial results for the three-month period ended March 31, 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 commercial terms with customers and suppliers and timing of 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: the inability to improve commercial terms with customers and suppliers: delays in the construction 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.
CONDENSED CONSOLIDATED BALANCE SHEETS


March 31,

December 31

March 31,

December 31

2 0 2 6

2 0 2 5

2025

2 0 2 6

2 0 2 5

2025

NIS

US dollars (*)

(in thousands)

ASSETS














Current assets







Cash and cash equivalents

145,483

116,870

124,158

45,966

36,926

39,228

Financial assets at fair value through
profit or loss

128,636

117,120

124,591

40,643

37,005

39,365

Trade receivables, Net

181,738

172,919

181,762

57,421

54,635

57,429

Other receivables and prepaid expenses

3,967

7,287

2,244

1,253

2,302

709

Inventories, Net

92,313

123,152

94,074

29,167

38,911

29,723

Current tax assets

1,823

-

1,585

576

-

501

Total current assets

553,960

537,348

528,414

175,026

169,779

166,955








Non-current assets







Property, plant and equipment

212,426

179,515

201,692

67,117

56,719

63,726

Less -Accumulated depreciation

65,009

59,679

63,468

20,540

18,856

20,053


147,417

119,836

138,224

46,577

37,863

43,673








Right of use asset

3,914

4,838

4,562

1,237

1,529

1,441

Financial assets at fair value through
profit or loss

42,084

50,332

49,067

13,297

15,903

15,503

Goodwill

36

36

36

11

11

11

Total non-current assets

193,451

175,042

191,889

61,122

55,306

60,628









747,411

712,390

720,303

236,148

225,085

227,583

EQUITY AND LIABILITIES














Current liabilities







Current maturities of lease liabilities

2,123

1,939

2,191

671

613

692

Short-term credit from banks

4,121

-

-

1,302

-

-

Trade payables

25,364

35,047

23,291

8,014

11,073

7,359

Employees Benefits

6,974

5,904

4,861

2,204

1,865

1,536

Other payables and accrued expenses

39,594

52,916

17,438

12,510

16,719

5,510

Total current liabilities

78,176

95,806

47,781

24,701

30,270

15,097








Non-current liabilities







Lease liabilities

2,210

2,730

2,739

698

863

865

Deferred taxes

11,864

9,706

13,331

3,748

3,067

4,212

Retirement benefit obligation

1,361

1,102

1,361

430

349

430

Total non-current liabilities

15,435

13,538

17,431

4,876

4,279

5,507








Shareholders' equity







Share capital

1,492

1,491

1,492

471

471

471

Additional paid in capital

175,288

173,614

174,700

55,383

54,854

55,197

Remeasurement of the net liability in
respect of defined benefit

(256)

(256)

(256)

(81)

(81)

(81)

Capital fund

247

247

247

78

78

78

Retained earnings

477,657

428,578

479,536

150,918

135,412

151,512

Treasury shares

(628)

(628)

(628)

(198)

(198)

(198)

Equity attributable to owners of the
Company

653,800

603,046

655,091

206,571

190,536

206,979









747,411

712,390

720,303

236,148

225,085

227,583

(*)     Convenience translation into U.S. dollars.

G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS


Three months
ended
March 31,

Three months
ended
March 31,

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

156,891

144,843

49,571

45,764

Cost of sales

107,939

100,215

34,104

31,664






Gross profit

48,952

44,628

15,467

14,100






Operating costs and expenses:





Selling expenses

20,884

17,111

6,598

5,406

General and administrative expenses

8,043

7,558

2,541

2,388

Operating profit

20,025

19,959

6,328

6,306






Financial income

6,114

5,491

1,932

1,735

Financial expense

(395)

(320)

(125)

(101)






Total financial income

5,719

5,171

1,807

1,634






Income before taxes on income

25,744

25,130

8,135

7,940

Taxes on income

(5,661)

(5,625)

(1,789)

(1,777)






Profit for the period

20,083

19,505

6,346

6,163






Earnings per share:





Basic earnings per share

1.44

1.41

0.46

0.44

Diluted earnings per share

1.44

1.39

0.46

0.44






Shares used in computation of
basic EPS

13,906,412

13,877,447

13,906,412

13,877,447

Shares used in computation of
diluted EPS

13,913,507

13,988,885

13,913,507

13,988,885

Actual number of shares

13,906,412

13,877,447

13,906,412

13,877,447

(*)     Convenience translation into U.S. dollars 

G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS



Three months
ended
March 31,

Three months
ended
March 31,


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)

CASH FLOWS - OPERATING ACTIVITIES





Profit from continuing operations

20,083

19,505

6,346

6,163

Adjustments to reconcile net profit to net cash from continuing
operating activities (Appendix A)

2,311

(19,194)

730

(6,064)

Net cash from continuing operating activities 

22,394

311

7,076

99











CASH FLOWS - INVESTING ACTIVITIES





Acquisition of property plant and equipment

(1,049)

(529)

(331)

(167)

Acquisition of property plant and equipment under construction

(9,685)

(10,769)

(3,060)

(3,403)

Proceeds from sale of marketable securities, net

6,072

5,140

1,918

1,624

Net cash used in continuing investing activities

(4,662)

(6,158)

(1,473)

(1,946)






CASH FLOWS - FINANCING ACTIVITIES





Lease liability payments

(597)

(580)

(189)

(183)

Short term credit from banks

4,121

-

1,302

-

Net cash from (used in) continuing financing activities

3,524

(580)

1,113

(183)






Increase (decrease) in cash and cash equivalents

21,256

(6,427)

6,716

(2,031)

Cash and cash equivalents at the beginning of the year

124,158

122,938

39,228

38,843

Exchange gains on cash and cash equivalents

69

359

22

113

Cash and cash equivalents at the end of the year 

145,483

116,870

45,966

36,925

(*)     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 continuing operating activities:


Three months
ended
March 31,


Three months
ended
March 31,

2 0 2 6


2 0 2 5


2 0 2 6


2 0 2 5

NIS


US dollars (*)

(in thousands)

Decrease in deferred income taxes

(1,467)


(182)


(464)


(58)

Unrealized gains on marketable securities

(3,133)


(1,561)


(990)


(493)

Depreciation and amortization

1,541


 (**) 1,330


487


(**) 421

Depreciation expense on right-to-use assets

648


(**) 525


205


(**) 165

Stock based payment

588


552


186


174

Exchange gains on cash and cash equivalents

(69)


(359)


(22)


(113)









Changes in assets and liabilities:








Increase in trade receivables and other receivables

1,914


1,469


605


464

Decrease (Increase) in inventories

1,761


(24,918)


556


(7,873)

Increase in trade payables, other payables and other current
liabilities

4,380


6,166


1,384


1,949

Cash generated from (used in) operations

6,163


(16,978)


1,947


(5,364)

Income tax paid

(3,852)


(2,216)


(1,217)


(700)

Net cash flows from (used in) operating activities

2,311


(19,194)


730


(6,064)

(*)     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
[email protected]

Logo: https://mma.prnewswire.com/media/959267/G_Willi_Food_International_Logo.jpg

SOURCE G. Willi-Food International Ltd.

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