zk1517669.htm


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 2015
 
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 x   Form 40-F o
 
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 o   No x
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________   

Attached hereto and incorporated by reference herein is a press release issued by G. Willi-Food International Ltd. (“Registrant”) on November 13, 2015.

This report on Form 6-K is hereby incorporated by reference in the Registration Statements on Form F-3 (File No. 333-11848 and 333-138200) of the Registrant.

 
 

 
 
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/ Pavel Buber  
    Name: Pavel Buber  
    Title: Acting Chief Financial Officer  
       
 
Date: November 30, 2015
 
 
2

 
 
 
   
 
FOR IMMEDIATE RELEASE

G. WILLI-FOOD REPORTS Q3 2015 FINANCIAL RESULTS

YAVNE, Israel – November 26, 2015 - 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 and the nine-months ended September 30, 2015.

Third Quarter Fiscal 2015 Highlights - Operating income increased 41% from third quarter of 2014 (income statement highlights compared to same period last year):

·
Operating income increased 41% from third quarter of 2014 to NIS 6.5 million (US$ 1.7 million), or 8.6% of sales
·
Sales decreased 3.3% from third quarter of 2014 to NIS 76.4 million (US$ 19.5 million)
·
Gross profit increased 0.1% from third quarter of  2014 to NIS 19.9 million (US$ 5.1 million), or 26.1% of sales
·
Net profit of  NIS 7.3 million (US$ 1.8 million), or 9.5% of sales
·
Earning per share of NIS 0.55 (US$ 0.14)
·
Cash and securities balance (net of short-term bank debt) of NIS 250 million (US$ 63.8 million) as of September 30, 2015

Willi-Food’s operating divisions include Willi-Food, a distributor of a broad variety of kosher foods, and its wholly-owned subsidiary Gold Frost, a designer, developer and distributor of branded and innovative kosher dairy food products.

Third Quarter Fiscal 2015 Summary

Sales for the third quarter of 2015 decreased by 3.3% to NIS 76.4 million (US$ 19.5 million) from NIS 79.1 million (US$ 20.2 million) recorded in the third quarter of 2014. Sales decreased in the third quarter of 2015 primarily due to overall market decline in food product consumption by the Israeli consumer.

Gross profit for the third quarter of 2015 increased by 0.1% to NIS 19.9 million (US$ 5.1 million) compared to NIS 19.8 million (US$ 5 million) recorded in the third quarter of 2014. Third quarter gross margin was 26.1% compared to gross margin of 25% for the same period in 2014. The increase in gross margin was the result of a favorable mix of product revenue during the quarter as sales of higher gross margin products increased faster than sales of lower gross margin products and due to certain expense shifting from selling expenses to gross margin as a result of government regulations regarding such accounting treatment that became effective in January 2015.

Willi-Food’s operating income for the third quarter of 2015 increased by 40.1% to NIS 6.5 million (US$ 1.7 million) compared to NIS 4.7 million (US$ 1.2 million) recorded in the third quarter of 2014. Selling expenses decreased by 19.7% from the comparable quarter of 2014, primarily due to a decrease in promotion expenses principally resulting from the shifting of certain related expenses to gross margin as mentioned above and due to a decrease in vehicle and transport expenses as a result of adjusting expenses in light of lower sales.

 
3

 
 
Selling expenses as a percentage of sales decreased in the third quarter of 2015 to 10.4% compared to 12.5% in the third quarter of 2014.

General and administrative expenses increased by 5.1% from the third quarter of 2014 to NIS 5.4 million (US$ 1.4 million) compared to NIS 5.2 million (US$ 1.3 million).

Willi-Food’s income before taxes for the third quarter of 2015 was NIS 10.243 million (US$ 2.6 million) compared to income before taxes of NIS 6.6 million (US$ 1.7 million) recorded in the third quarter of 2014.

Willi-Food's net income in the third quarter of 2015 was NIS 7.3 million (US$ 1.8 million), or NIS 0.55 (US$ 0.14) per share, compared to NIS 5.1 million (US$ 1.3 million), or NIS 0.39 (US$ 0.1) per share, recorded in the third quarter of 2014.

Willi-Food ended the third quarter of 2015 with NIS 250.4 million (US$ 63.8 million) in cash and securities net of short-term bank debt. Net cash from operating activities for 2015 third quarter was NIS 20 million (US$ 5.1 million). Willi-Food's shareholders' equity at the end of September 2015 was NIS 390.3 million (US$ 99.5 million).

Nine Month Fiscal 2015 Highlights (compared to same period last year)

·
Sales decreased 7.7% to NIS 233.8 million (US$ 59.6 million);
·
Gross profit decreased 14.9% to NIS 52.5 million (US$ 13.4 million), or 22.4% of sales;
·
Operating income decreased 29% to NIS 11.8 million (US$ 3 million), or 5.1% of sales;
·
Net profit decreased 41.3% to NIS 9.7 million (US$ 2.5 million), or 4.1% of sales;
·
Earning per share of NIS 0.74 (US$ 0.19).
 
Nine Month Results

Willi-Food’s sales for the nine month period ending September 30, 2015 decreased by 7.7% to NIS 233.8 million (US$ 59.6 million) compared to sales of NIS 253.2 million (US$ 68.5 million) in the first nine month of 2014 primarily due to exposure to losses on account of Mega Retail Ltd.’s arrangement with creditors, as described below, and overall market decline in food product consumption by the Israeli consumer Gross profit for the period decreased by 14.9% to NIS 52.5 million (US$ 13.4 million) compared to gross profit of NIS 61.7 million (US$ 16.7 million) for the first nine months of 2014. Gross margins in the first nine months of 2015 were 22.4% compared to gross margins of 24.3% in the same period of 2014.
 
Operating income for the first nine months of 2015 decreased by 29% to NIS 11.8 million (US$ 3 million) from NIS 16.7 million (US$ 4.5 million) reported in the comparable period of last year. Income before taxes for the first nine month of 2015 decreased by 3 % to NIS 13.9 million (US$ 3.5 million) compared to NIS 22.1 million (US$ 6 million) recorded in the first nine months of 2014. Net profit for the first nine months of 2015 decreased by 41.6% to NIS 9.7 million (US$ 2.5 million), or NIS 0.74 (US$ 0.19) per share, from NIS 16.6 million (US$ 4.5 million), or NIS 1.28 (US$ 0.35) per share, recorded in the first nine months of 2014.
 
 
4

 
 
Note regarding the termination of management service agreements with companies controlled by Zwi and Joseph Joseph Williger:

Further to the Company's announcement on November 13, 2015, the Board of Directors of the Company approved the terms of termination of the management service agreements between the Company and companies controlled by Mr. Zwi Williger, who currently serves as the Company's Co-Chairman of the Board of Directors, and Mr. Joseph Williger, who currently serves as a member of the Board of Directors and the Company's President.

The management service agreement terminates after a notice period of 180 days following execution of a termination agreement on November 12, 2015.  During this notice period but in any event until at least January 15, 2016, Messrs. Zwi and Joseph Williger are to continue to manage the core business of the Company while serving as Co-Presidents of the Company.  The termination agreement is subject to the approval of certain of its terms by the Company shareholders, at which time Messrs. Zwi and Joseph Williger are to resign as directors and from all other positions with the Company.  The termination agreement provides for certain payments, including a performance bonus of NIS 2 million and a retirement bonus of NIS 1.67 million, in addition to their management fee of NIS 1.67 million during the year following the notice period, to each of Messrs. Zwi and Joseph Williger.

Note regarding the Company’s exposure to losses due to the arrangement of debts of Mega Retail Ltd. and the stay of proceedings of its subsidiary Eden Briut Teva Market Ltd.:

Further to the Company's announcement on August 18, 2015, the results for the nine months ended September 30, 2015 include a one-time reserve of NIS 1.7 million (US$ 0.5 million) reflecting the Company’s estimate of the losses it will experience due to the plan of recovery and arrangement of debts of Mega Retail Ltd. (“Mega”), Israel’s second largest supermarket chain, and the stay of proceedings of its subsidiary Eden Briut Teva Market Ltd. ("Eden").

Under the Arrangement, 30% of the existing debt to large suppliers, such as Willi-Food, would be deferred for two years until June 30, 2017, with the deferred amounts repayable thereafter in 36 equal monthly installments with 3% annual interest without linkage to the CPI (2% annual interest without linkage to CPI during two-year period of deferral) ("Deferred Debt"). The balance of payments due to suppliers would be paid in four equal weekly installments beginning July 31, 2015 or, if later, the original payment date in the case of large suppliers. In addition, the Arrangement provides that large suppliers would be given the option to convert the Deferred Debt into ordinary shares of Alon Blue Square Israel Ltd., the parent company of Mega, under the conditions stipulated in the Arrangement. The Company’s accounts receivable related to Mega, as of September 30, 2015, totalled approximately NIS 4.6 million (US$ 1.2 million). This sum includes value added tax of approximately NIS 0.7 million (US$ 0.2 million) which, if not paid, would be returned to the Company by the Israel Tax Authority. As of November 26, 2015, the Company has received payments from Mega in accordance with  the Arrangement equal to 70% of Mega’s debt to the Company.

Additionally, on July 15, 2015, the District Court in Lod, Israel approved an extension for a stay of proceedings filed on July 9, 2015 for Mega's subsidiary, Eden ("Stay of Proceedings"). As part of the Stay of Proceedings, the court appointed a trustee for Eden who is charged with, among other things,  management of Eden during the Stay of Proceedings and the negotiation and auction for the sale of Eden's assets. According to reports published by Tiv Taam Holdings 1 Ltd. ("Tiv Taam"), on August 16, 2015, the Court appproved the sale of Eden's assets for consideration of NIS 29.25 million to  Tiv Taam. According to the reports, Tiv Taam has also committed to purchase Eden's non-expired  inventory at cost. The Company’s accounts receivable related to Eden, as of the date of the Stay of Proceedings, totalled approximately NIS 0.6 million (US$ 0.2 million). This sum includes value added tax.

 
5

 

Appointment of Chief Financial Officer

Further to the Company's announcement on November 13, 2015, the Board of Directors appointed Mr. Pavel Buber, previously the Company's Acting Chief Financial Officer and secretary, as Chief Financial Officer and secretary of the Company.

Business Outlook

Mr. Zwi Williger, Co-Chairman of Willi-Food, commented, “We are very pleased to report a strong quarter despite the fact the continued sharp decline of consumption of food products by Israeli consumers for the third quarter in a row and despite Mega and Eden's recent reports. We were able to sustain the level of sales and maintain gross margins of 26.1%, and in addition to obtain  an increase of the operational margin by 41% to NIS 6.5 million(US$ 1.7 million). Our principal challenge will be to focus on sales of higher gross margin products and in managing expenses in order to offer our products at the low prices that our customers expect”.

NOTE A: Convenience Translation to Dollars

The convenience translation of New Israeli Shekels (NIS) into U.S. dollars was made at the rate of exchange prevailing on September 30, 2015, U.S. $1.00 equals NIS 3.92. 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 six-month periods ended June 30, 2015 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 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 Gold Frost, 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, in particular Arla Foods, 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, 2013, filed with the Securities and Exchange Commission on April 30, 2015. 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.

{FINANCIAL TABLES TO FOLLOW}
 
 
6

 
 
G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS

   
September 30,
   
December 31,
   
September 30,
   
December 31,
 
   
2 0 1 5
   
2 0 1 4
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
   
2 0 1 4
 
   
NIS
   
US dollars (*)
 
   
(in thousands)
 
ASSETS
                                   
                                     
Current assets
                                   
Cash and cash equivalents
    101,067       59,219       82,902       25,763       15,095       21,132  
Financial assets carried at fair value through profit or loss
    129,091       164,917       122,733       32,906       42,039       31,285  
Short term deposit
    20,274       -       19,445       5,168       -       4,957  
Trade receivables
    81,668       93,579       86,690       20,818       23,854       22,098  
Other receivables and prepaid expenses
    2,925       2,723       3,700       746       694       943  
Inventories
    42,113       44,544       48,586       10,735       11,355       12,385  
Current tax assets
    2,047       530       1,372       521       135       350  
Total current assets
    379,185       365,512       365,428       96,657       93,172       93,150  
                                                 
Non-current assets
                                               
Property, plant and equipment
    75,738       71,722       73,826       19,306       18,282       18,819  
Less -Accumulated depreciation
    31,137       27,635       28,579       7,937       7,044       7,285  
      44,601       44,087       45,247       11,369       11,238       11,534  
                                                 
Other receivables and prepaid expenses
    145       33       133       37       8       34  
Goodwill
    36       36       36       9       9       9  
Deferred taxes
    952       44       505       243       11       129  
Total non-current assets
    1,133       44,200       45,921       11,658       11,266       11,706  
                                                 
      424,919       409,712       411,349       108,315       104,438       104,856  
                                                 
EQUITY AND LIABILITIES
                                               
                                                 
Current liabilities
                                               
Short-term bank debt
    1       114       -       -       29       -  
Trade payables
    18,358       18,026       15,518       4,680       4,596       3,956  
Employees Benefits
    2,021       1,962       2,120       515       500       540  
Current tax liabilities
    -       -       -       -       -       -  
Other payables and accrued expenses
    3,948       5,842       7,010       1,006       1,489       1,787  
Total current liabilities
    24,328       25,944       24,648       6,201       6,614       6,283  
                                                 
Non-current liabilities
                                               
retirement benefit obligation
    594       501       635       151       128       162  
Total non-current liabilities
    594       501       635       151       128       162  
                                                 
Shareholders' equity
                                               
Share capital NIS 0.1 par value (authorized - 50,000,000
  shares, issued and outstanding – 13,107,579 shares
  at September 30, 2015; 12,974,245 shares at
  December 31, 2014)
    1,420       1,407       1,407       362       359       359  
Additional paid in capital
    125,630       120,727       121,430       32,025       30,774       30,953  
Capital fund
    247       247       247       63       63       63  
Remeasurement of the net liability in respect of defined benefit
    (57 )     140       (57 )     (15 )     36       (15 )
Retained earnings
    272,757       260,746       263,039       69,528       66,464       67,051  
Equity attributable to owners of the Company
    390,279       383,267       386,066       101,963       97,696       98,411  
                                                 
      424,919       409,712       411,349       108,315       104,438       104,856  
 
(*)    Convenience translation into U.S. dollars.
 
 
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G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 
   
Nine months
   
Three months
   
Nine months
 
   
ended September 30,
   
ended September 30,
   
ended September 30,
 
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
 
   
NIS
   
U.S. dollars (*)
 
   
In thousands (except per share and share data)
 
                                     
Sales
    233,783       253,245       76,433       79,067       59,593       68,537  
Cost of sales
    181,280       191,524       56,488       59,315       46,210       51,833  
                                                 
Gross profit
    52,503       61,721       19,945       19,752       13,383       16,704  
                                                 
Selling expenses
    27,189       30,336       7,962       9,916       6,930       8,210  
General and administrative expenses
    15,659       14,868       5,448       5,184       3,992       4,024  
Other income
    2,182       (147 )     (3 )     -       (556 )     (40 )
                                                 
Total operating expenses
    40,666       45,057       13,407       15,100       10,366       12,194  
                                                 
Operating income
    11,837       16,664       6,538       4,652       3,017       4,510  
                                                 
Financial income
    2,965       5,738       1,737       1,582       756       1,553  
Financial (income) expense
    896       293       (1,968 )     (391 )     228       79  
                                                 
Total financial income
    2,069       5,445       3,705       1,973       528       1,474  
                                                 
Income before taxes on income
    13,906       22,109       10,243       6,625       3,545       5,984  
Taxes on income
    4,188       5,548       2,992       1,545       1,068       1,501  
                                                 
Profit for the period
    9,718       16,561       7,251       5,080       2,477       4,483  
                                                 
Earnings per share:
                                               
Basic earnings per share
    0.74       1.28       0.55       0.39       0.19       0.35  
                                                 
Diluted earnings per share
    0.74       1.28       0.55       0.39       0.19       0.35  
                                                 
Shares used in computation of basic EPS
    13,107,579       12,974,245       13,107,579       12,974,245       13,107,579       12,974,245  
 
(*)   Convenience translation into U.S. dollars

 
8

 
 
G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
   
Nine month
   
Three months
   
Nine months
 
   
ended September 30,
   
ended September 30,
   
ended September 30,
 
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
 
   
NIS
   
U.S. dollars (*)
 
   
In thousands (except per share and share data)
 
                                     
Cash flows - operating activities
                                   
Profit from operations
    9,718       16,561       7,251       5,080       2,476       4,222  
Adjustments to reconcile net income to net cash from
 operating activiti (Appendix)
    13,249       (4,150 )     12,793       4,049       3,379       (1,058 )
                                                 
Net cash from operating activities
    22,967       12,411       20,044       9,129       5,855       3,164  
                                                 
Cash flows - investing activities
                                               
Acquisition of property plant and equipment
    (2,696 )     (6,586 )     (464 )     (2,582 )     (687 )     (1,679 )
Proceeds from sale of property plant and Equipment
    456       970       (104 )     -       116       247  
Proceeds from purchace of marketable securities, net
    (6,019 )     (49,269 )     (4,584 )     (6,001 )     (1,534 )     (12,559 )
Proceeds from Loan carried at fair value through profit or loss
    -       65,400       -       -       -       16,671  
                                                 
Net cash from (used in) investing activities
    (8,259 )     10,515       (5,152 )     (8,583 )     (2,105 )     2,680  
                                                 
Cash flows - financing activities
                                               
Proceeds of Public offering, net
    3,456       -       -       -       881       -  
Short-term bank debt
    1       96       (3 )     114       -       24  
                                                 
Net cash from (used in)  financing activities
    3,457       96       (3 )     114       881       24  
                                                 
Increase in cash and cash equivalents
    18,165       23,022       14,889       660       4,631       5,868  
                                                 
Cash and cash equivalents  at the beginning of the financial year
    82,902       36,197       86,178       58,559       21,132       9,227  
                                                 
Cash and cash equivalents of the end of the financial year
    101,067       59,219       101,067       59,219       25,763       15,095  

(*)    Convenience Translation into U.S. Dollars.
 
 
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G. WILLI-FOOD INTERNATIONAL LTD.
APPENDIX TO CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
   
Nine months
   
Three months
   
Nine months
 
   
ended September 30,
   
ended September 30,
   
Ended September 30,
 
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
   
2 0 1 5
   
2 0 1 4
 
   
NIS
   
U.S. dollars (*)
 
   
In thousands (except per share and share data)
 
                                     
Cash flows from operating activities:
                                   
                                     
A. Adjustments to reconcile net profit to net cash from
     operating activities
                                   
Decrease in deferred income taxes
    (447 )     (543 )     773       89       (114 )     (147 )
Unrealized gain on marketable securities
    (339 )     (2,784 )     (91 )     (262 )     (86 )     (753 )
Unrealized gain from short term deposit
    (829 )     -       (1039 )     -       (211 )     -  
Depreciation and amortization
    2,882       2,691       902       912       735       728  
Capital gain on disposal of  property plant
 and equipment
    (220 )     (188 )     -       -       (56 )     (51 )
Stock based compensation reserve
    757       1,423       252       476       193       385  
Unrealized Gain of  loan carried at fair value through
 profit or loss
    -       (100 )     -       -       -       (27 )
Net foreign exchange gain
    -       (786 )     -       -       -       (213 )
                                                 
Changes in assets and liabilities:
                                               
Decrease (increase) in trade receivables and
 other receivables
    5,110       (11,189 )     5,991       5,614       1,303       (3,028 )
Decrease (increase) in inventories
    6,473       9,457       4,819       (5,669 )     1,650       2,560  
Increase (decrease) in trade and other payables,
 and other current liabilities
    (138 )     (2,131 )     1,186       2,889       (35 )     (577 )
                                                 
      13,249       (4,150 )     12,793       4.059       3,379       (1,123 )
 
(*)    Convenience Translation into U.S. Dollars.
 
 
10

 
 
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.
Pavel Buber, Chief Financial Officer
 (+972) 8-932-1000
pavel@willi-food.co.il
 
SOURCE: G. Willi-Food International Ltd.
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