G Willi Food International Ltd. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>G Willi Food International Ltd. has filed its 2023 annual 20-F report detailing its financial performance and business operations.</b>

AI Summary

G WILLI FOOD INTERNATIONAL LTD (WILC) filed a Foreign Annual Report (20-F) with the SEC on March 21, 2024. G Willi Food International Ltd. filed its annual 20-F report on March 21, 2024, for the fiscal year ending December 31, 2023. The filing includes financial data and business information for the company. The company's principal executive offices are located at 24 Hametsuda St, Industrial Zone, Azur, Israel. The report covers the fiscal year from January 1, 2023, to December 31, 2023. The filing is made under the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking G WILLI FOOD INTERNATIONAL LTD, this filing contains several important signals. This 20-F filing provides investors and stakeholders with a comprehensive overview of the company's financial health and strategic direction for the fiscal year 2023. The detailed financial information and disclosures within the report are crucial for understanding the company's market position and future prospects in the wholesale grocery sector.

Risk Assessment

Risk Level: low — G WILLI FOOD INTERNATIONAL LTD shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and management discussion within the 20-F to assess G Willi Food International's performance and outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-21 — Filing Date (FILED AS OF DATE)
• 5141 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 000-29256 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• G WILLI FOOD INTERNATIONAL LTD (company) — FILER
• 2024-03-21 (date) — FILED AS OF DATE
• 2023-12-31 (date) — CONFORMED PERIOD OF REPORT
• 0001030997 (company) — CENTRAL INDEX KEY
• 5141 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• 24 HAMETSUDA ST INDUSTRIAL ZONE AZUR ISRAEL L3 58001 (address) — BUSINESS ADDRESS
• 000-29256 (filing_id) — SEC FILE NUMBER
• 24769708 (film_number) — FILM NUMBER

FAQ

Industry Context

G Willi Food International Ltd. operates in the wholesale grocery sector. This filing provides insights into its operations within this industry.

Regulatory Implications

The company is subject to SEC regulations for foreign private issuers, as indicated by the 20-F filing requirement.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review management's discussion and analysis (MD&A) for insights into business strategy and risks.
3. Examine any disclosures related to corporate governance and executive compensation.

Key Dates

• 2024-03-21: Filing of 20-F Report — Submission of the annual report for the fiscal year ended December 31, 2023.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. Comparative data from previous filings will be available in subsequent analyses.

Key Financial Figures

• $1 — ave been made at the rate of NIS 3.627= $1.00, the representative exchange rate on

Filing Documents

• zk2431140.htm (20-F) — 3475KB
• exhibit_2-1.htm (EX-2.1) — 25KB
• exhibit_12-1.htm (EX-12.1) — 12KB
• exhibit_12-2.htm (EX-12.2) — 11KB
• exhibit_13-1.htm (EX-13.1) — 4KB
• exhibit_13-2.htm (EX-13.2) — 4KB
• exhibit_15-1.htm (EX-15.1) — 3KB
• exhibit_97-1.htm (EX-97.CLAWBACKPOLICY) — 30KB
• image00002.jpg (GRAPHIC) — 2KB
• image1.jpg (GRAPHIC) — 162KB
• image00005.jpg (GRAPHIC) — 2KB
• image00009.jpg (GRAPHIC) — 22KB
• 0001178913-24-001024.txt (&nbsp;) — 15677KB
• wilc-20231231_cal.xml (EX-101.CAL) — 91KB
• wilc-20231231_def.xml (EX-101.DEF) — 382KB
• wilc-20231231_lab.xml (EX-101.LAB) — 773KB
• wilc-20231231_pre.xml (EX-101.PRE) — 489KB
• wilc-20231231.xsd (EX-101.SCH) — 106KB
• zk2431140_htm.xml (XML) — 3840KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No TABLE OF CONTENTS Page PART I ITEM 1 IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS 3 ITEM 2 OFFER STATISTICS AND EXPECTED TIME TABLE 3 ITEM 3 KEY INFORMATION 3 ITEM 4 INFORMATION ON THE COMPANY 11 ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS 20 ITEM 6 DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 25 ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 38 ITEM 8 FINANCIAL INFORMATION 40 ITEM 9 THE OFFER AND LISTING 42 ITEM 10 ADDITIONAL INFORMATION 42 ITEM 11

QUANTITATIVE AND QUALITATIVE DISCLOSURES

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 53 ITEM 12

DESCRIPTION OF SECURITIES OTHER THAN EQUITY

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 54 ITEM 13 DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 54 ITEM 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 54 ITEM 15

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 54 ITEM 16 [RESERVED] 55 ITEM 16A AUDIT COMMITTEE FINANCIAL EXPERT 55 ITEM 16B CODE OH ETHICS 55 ITEM 16C PRINCIPAL ACCOUNTANT FEES AND SERVICES 55 ITEM 16D EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 56 ITEM 16E PURCHASES OF EQUITY SECURITIES BY THE COMPANY AND AFFILIATED PURCHASERS 56 ITEM 16F CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT 56 ITEM 16G CORPORATE GOVERNANCE 56 ITEM 16H MINE SAFETY DISCLOSURE 57 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTION 57 ITEM 16J. INSIDER TRADING POLICIES 57 ITEM 16K. CYBERSECURITY 57 PART II ITEM 17

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 58 ITEM 18

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 58 ITEM 19 EXHIBITS 59 1 PRESENTATION OF INFORMATION In this annual report on Form 20-F ("Annual Report"), references to the "Company","Group", "we" and "us" refer to G. Willi-Food International Ltd. and its consolidated subsidiaries. References to "Willi-Food" refer to Willi-Food Investments Ltd., our controlling shareholder. The Company presents its consolidated financial statements in New Israeli Shekels, the currency of the State of Israel. Unless otherwise specified or the context otherwise requires, references to "

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS Not applicable.

OFFER STATISTICS AND EXPECTED TIME

ITEM 2. OFFER STATISTICS AND EXPECTED TIME TABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. Reserved B. CAPITALIZATION AND INDEBTEDNESS Not applicable. C. REASONS FOR THE OFFER AND USE OF PROCEEDS Not applicable. D. RISK FACTORS You should carefully consider the risks we describe below, in addition to the other information set forth elsewhere in this Annual Report, including our financial statements and the related notes beginning on page F-1, before deciding to invest in our ordinary shares (the "Ordinary Shares"). The risks and uncertainties described below in this Annual Report are not the only risks facing us. We may face additional risks and uncertainties not currently known to us or that we currently deem to be immaterial. Any of the risks described below or incorporated by reference in this Annual Report could materially adversely affect our business, financial condition or results of operations. In such case, you may lose all or part of your investment. Risks Related to Our Business and Industry We depend on a small number of principal clients who have in the past bought our products in large volumes. Our business may be materially affected if any of our major client's default on their payments to us . Financial instruments that potentially subject us to concentrations of credit risk consist principally of trade receivable. Despite our large number of clients (approximately 1,500 customers, 3,000 selling points in Israel and abroad), a major part of our sales is made to a limited number of customers. Our largest customer which owns, among other things, supermarkets which accounted for approximately NIS 60.4 million (which represents 11.1%) of our sales revenue during 2023. We generally do not require collateral from our big supermarket chain customers, although we do require collateral from most of our remaining clients in Israel to ensure security in collecting payments that are due to us. In addition, we buy credit insurance for many of our customers. We maintain an allowance for doubtful debts based upon

View Full Filing

View this 20-F filing on SEC EDGAR