The operational turnaround is real with expanding margins, but the net profit decline from non-operating items may spook momentum traders. Watch for continued margin improvement and the logistics center ramp in Q4 2026 as catalysts. The strong cash position provides downside protection.
Price Chart
Executive Summary
G. Willi-Food International reported Q2 2026 results with flat revenue but strong operational improvements: gross profit +21.5% YoY and operating profit +22.7% YoY. However, net profit fell 33.9% YoY due to significantly lower gains from marketable securities. The core food distribution business is strengthening, but the headline earnings decline and flat top line create a mixed picture.
Key Facts
- Q2 2026 sales flat YoY at NIS 160.5M ($53.7M)
- Gross profit +21.5% YoY to NIS 53.5M ($18.0M), margin expanded to 33.3% from 27.4%
- Operating profit +22.7% YoY to NIS 25.3M ($8.5M), margin 15.8% vs 12.9%
- Net profit -33.9% YoY to NIS 21.1M ($7.1M) due to lower financial income (NIS 2.0M vs NIS 20.0M in Q2 2025)
- EPS NIS 1.5 ($0.5) vs NIS 2.3 ($0.7) in Q2 2025
- Cash and securities of NIS 257.6M ($86.5M) as of June 30, 2026
- New refrigerated logistics center expected operational in Q4 2026
Financial Impact
Operational profit improved ~NIS 4.7M YoY in Q2, but net profit declined ~NIS 10.8M due to lower investment gains. Core business margins are expanding.
Risk Factors
- Net profit decline of 33.9% YoY due to lower financial income from marketable securities
- Flat revenue growth in Q2; reliance on currency tailwinds (NIS appreciation) for margin expansion
- Execution risk on new logistics center and rising selling/G&A expenses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-003781 |
| Document: zk2635823.htm | 0001178913-26-003781 |
| Document: 0001178913-26-003781-index-headers.html | 0001178913-26-003781 |
| Document: 0001178913-26-003781-index.html | 0001178913-26-003781 |
| Document: 0001178913-26-003781.txt | 0001178913-26-003781 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 11w ago | 6-K | $30.20 | awaiting T+20 | — | — |
Aug 4, 2026 11w ago | Press Release | $29.61 | awaiting T+20 | — | — |
Aug 4, 2026 11w ago | 6-K | $29.61 | awaiting T+20 | — | — |
Aug 4, 2026 11w ago | 6-K | $29.61 | awaiting T+20 | — | — |
May 26, 2026 21w ago | 6-K | $36.02 $31.64 | ▼ −12.16% | ▼ −10.21% | — |
US Market Status
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