G. Willi-Food Reports Q3 2013 Net Income Up 36.6% From Q3 2012

        G. Willi-Food Reports Q3 2013 Net Income Up 36.6% From Q3 2012

2013 Q3 Sales up 12.6% over 2012 Q3 Sales; 2013 Q3 Operating Income up 26.2%
over Q3 2012 Operating Income

G. Willi-Food also reports on dismissal of claims by Mr. Arcadi Gaydamak
against Messrs. Zwi and Joseph Williger

PR Newswire

YAVNE, Israel, Nov. 6, 2013

YAVNE, Israel, Nov. 6, 2013 /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 third
quarter and the nine months ended September 30, 2013.

Third Quarter Fiscal 2013 Highlights (income statement highlights compared to
same period last year)

  oSales increased 12.6% to NIS 78.9 million (US$ 22.3 million);
  oGross profit increased 27.4% to NIS 20.7 million (US$ 5.9 million), or
    26.2% of sales;
  oOperating income increased 26.2% to NIS 7.2 million (US$ 2.0 million), or
    9.1% of sales;
  oNet income increased 36.6% to NIS 8.6 million (US$ 2.4 million), or 10.9%
    of sales;
  oEarning per share increased to NIS 0.66 (US$ 0.19);
  oNet cash from operating activities of NIS 5.2 million (US$ 1.5 million);
    and
  oCash and securities balance of NIS 218.0 million (US$ 61.6 million) as of
    September 30, 2013.

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 kosher innovative dairy food
products.

Third Quarter Fiscal 2013 Summary
Sales for the third quarter of 2013 increased by 12.6% to NIS 78.9 million
(US$ 22.3 million) compared to NIS 70.1 million (US$ 19.8 million) recorded in
the third quarter of 2012. Sales have increased in recent quarters as a result
of growing demand from domestic and international customers for quality kosher
products. In addition, we continued to benefit from a shift in behavior in
Israel as cost-conscious consumers recognize our products as a viable
alternative to higher cost leading brands.

Gross profit for the third quarter of 2013 increased by 27.4% to NIS 20.7
million (US$ 5.9 million) compared to NIS 16.3 million (US$ 4.6 million)
recorded in the third quarter of 2012. Third quarter gross margin was 26.2%
compared to gross margin of 23.2% for the same period in 2012. The improvement
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.

Willi-Food's operating income for the third quarter of 2013 increased by 26.2%
to NIS 7.2 million (US$ 2.0 million) compared to NIS 5.7 million (US$ 1.6
million) recorded in the third quarter of 2012. Selling expenses increased by
30.9% from the comparable quarter of 2012, primarily due to an increase in
promotional expenses as well as vehicles and transport expenses, each of which
increased due to the growth in sales. Selling expenses as a percentage of
sales increased in the third quarter of 2013 to 11.3% compared to 9.7% in the
third quarter of 2012. General and administrative expenses increased by 19.4%
from the third quarter of 2012, primarily due to an increase in management
profit-related bonuses. General and administrative expenses as a percentage of
sales increased in the third quarter of 2013 to 5.9% from 5.5% in the third
quarter of 2012.

Willi-Food's income before taxes for the third quarter of 2013 increased by
40.9% to NIS 11.5 million (US$ 3.2 million) compared to NIS 8.1 million (US$
2.3 million) recorded in the third quarter of 2012.

Willi-Food's net income in the third quarter of 2013 increased by 36.6% to NIS
8.6 million (US$ 2.4 million), or NIS 0.66 (US$ 0.19) per share, from NIS 6.3
million (US$ 1.8 million), or NIS 0.49 (US$ 0.14) per share, recorded in the
third quarter of 2012.

Willi-Food ended the third quarter of 2013 with NIS 218.0 million (US$ 61.6
million) in cash and securities net from short-term debt. Net cash from
operating activities for 2013 third quarter was NIS 5.2 million (US$ 1.5
million). Willi-Food's shareholders' equity at the end of September 2013 was
NIS 358.5 million (US$ 101.4 million).

Nine-Month Fiscal 2013 Highlights (compared to same period last year)

  oSales increased 20.9% to NIS 253.9 million (US$ 71.8 million);
  oGross profit increased 31.9% to NIS 63.9 million (US$ 18.1 million), or
    25.2% of sales;
  oOperating income increased 54.5% to NIS 24.7 million (US$ 7.0 million), or
    9.7% of sales;
  oNet income increased 61.9% to NIS 24.6 million (US$ 7.0 million), or 9.7%
    of sales; and
  oEarning per share increased to NIS 1.90 (US$ 0.54).

Nine-Month Results
Willi-Food's sales for the nine-month period ending September 30, 2013
increased by 20.9% to NIS 253.9 million (US$ 71.8 million) compared to sales
of NIS 210.1 million (US$ 59.4 million) in the first nine months of 2012.
Gross profit for the period increased by 31.9% to NIS 63.9 million (US$ 18.1
million) compared to gross profit of NIS 48.5 million (US$ 13.7 million) for
the first nine months of 2012. First nine-month gross margins in 2013 were
25.2% compared to gross margins of 23.1% in the same period of 2012.

Operating income for the first nine months of 2013 increased by 54.5% to NIS
24.7 million (US$ 7.0 million) from NIS 15.9 million (US$ 4.5 million)
reported in the comparable period of last year. First nine months 2013 income
before taxes increased by 62.9% to NIS 32.7 million (US$ 9.3 million) compared
to NIS 20.1 million (US$ 5.7 million) recorded in the first nine months of
2012. Net income for the first nine months of 2013 increased by 61.9% to NIS
24.6 million (US$ 7.0 million), or NIS 1.90 (US$ 0.54) per share, from NIS
15.2 million (US$ 4.3 million), or NIS 1.17 (US$ 0.33) per share, recorded in
the first nine months of 2012.

Business Outlook
Mr. Zwi Williger, Chairman of Willi-Food, commented, "We are very pleased to
report another strong quarter with organic sales growth of 12.6 percent, gross
profit growth of 27.4 percent and net income growth of 36.6 percent as our
customer base continues to expand and market demand for our products continues
to increase. Although the holiday calendar reduced the number of working days
in Israel during September of this year to only 13, we continued to gain
traction with new customers while product sales to existing customers also
continued to grow. Following the national protests in 2011 against the rising
prices of food products, customers realized that they can obtain food products
from us of comparable or better quality than those of the leading brands but
at more affordable prices, causing our customer base and the demand for our
products to increase. Our financial results have significantly improved over
the last five quarters as a direct result of our strategy to organically grow
our customer base and product line, while at the same time expanding our
margins. We intend to reinvest in the development of the company in order to
maximize profitability and increase long-term value for our shareholders."

Dismissal of Claims by Mr. Arcadi Gaydamak against Messrs. Zwi and Joseph
Williger
Messrs. Zwi and Joseph Williger have informed the Company that in the context
of mediation they have agreed with Mr. Arcadi Gaydamak to the dismissal of Mr.
Gaydamak's claims against them. As previously reported by the Company, in
2009 Mr. Arcadi Gaydamak filed a lawsuit against Messrs. Zwi and Joseph
Williger claiming, among other things, that they did not rightfully exercise
their call option under loan agreements following which Messrs. Zwi and Joseph
Williger each increased his holdings by 21.65% of the outstanding shares of
the Company's parent company, Willi-Food Investments Ltd. (based on its
outstanding shares at the time). As a result of their agreement, all claims
between the parties have been dismissed.

Conference Call
The Company will host a conference call and live webcast on November 6, 2013
to discuss the financial results begining at 11:00 AM Eastern Time.
Interested parties may participate on the call by dialing 1-877-941-8416 (US),
or 1-480-629-9808 (International), approximately 10 minutes prior to the
scheduled start time. Paricipants may also access a live listen only webcast
at: http://public.viavid.com/index.php?id=106441

Following the conclusion of the call, atelophonic replay will be available
for 14 days beginning at 2:00 PM Eastern Time on November 6, 2013 through
11:59 PM Eastern Time on November 20, 2013 and may be accessed by dialing
1-877-870-5176 (US), or 1-858-384-5517 (International), using access code
4645872. In addition, an archived webcast will be available for one year at:
http://public.viavid.com/reports/eventparticipantreporttab.php?id=o5aoo5uY

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, 2013, U.S. $1.00
equals NIS 3.537. 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
nine-month periods ended September 30, 2013 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, 2012, filed with
the Securities and Exchange Commission on April 30, 2013. 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}



G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
                                  September 30,  December  September  December
                                                 31,       30,        31,
                                  2 0 1 3        2 0 1 2   2 0 1 3    2 0 1 2
                                  NIS                      US dollars (*)
                                  (in thousands)           (in thousands)
ASSETS
Current assets
Cash and cash equivalents         47,746         57,563    13,499     16,274
Financial assets carried at fair  170,266        158,810   48,139     44,900
value through profit or loss
Trade receivables                 80,338         71,340    22,714     20,170
Other receivables and prepaid     3,624          5,988     1,024      1,693
expenses
Inventories                       47,620         49,270    13,463     13,930
Total current assets              349,594        342,971   98,839     96,967
Non-current assets
Property, plant and equipment     65,538         63,022    18,529     17,818
Less -Accumulated depreciation    24,002         21,394    6,786      6,049
                                  41,536         41,628    11,743     11,769
Other receivables and prepaid     280            62        79         18
expenses
Goodwill                          36             36        10         10
Deferred taxes                    -              20        -          6
Total non-current assets          41,852         41,746    11,832     11,803
                                  391,446        384,717   110,671    108,770
EQUITY AND LIABILITIES
Current liabilities
Short-term bank debt              -              9,930     -          2,808
Trade payables                    21,817         27,268    6,168      7,709
Employees Benefits                1,773          1,659     501        469
Accruals                          -              3,446     -          974
Current tax liabilities           752            2,117     213        600
Other payables and accrued        6,732          5,955     1,903      1,684
expenses
Total current liabilities         31,074         50,375    8,785      14,244
Non-current liabilities
Deferred taxes                    1,276          -         361
Employees Benefits                568            581       160        164
Total non-current liabilities     1,844          581       521        164
Shareholders' equity
Share capital NIS 0.10 par value
(authorized - 50,000,000 shares,
issued and outstanding -          1,444          1,444     408        408
12,974,245 shares at September
30, 2013; (12,974,245 shares at
December 31, 2012)
Additional paid in capital        129,906        129,897   36,728     36,725
Capital fund                      247            247       70         70
Remeasurement of defined benefit  14             -         4
obligation
Foreign currency translation      747            639       211        181
reserve
Treasury shares                   (10,843)       (10,843)  (3,066)    (3,066)
Retained earnings                 237,013        212,377   67,010     60,044
                                  358,528        333,761   101,365    94,362
                                  391,446        384,717   110,671    108,770
(*)Convenience translation into U.S. dollars



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 3     2 0 1 2     2 0 1 3     2 0 1 2     2 0 1 3     2 0 1 2
               NIS                                             U.S. dollars (*)
               In thousands (except per share and share data)
Sales          253,956     210,111     78,957      70,127      71,800      59,404
Cost of sales  190,020     161,640     58,250      53,876      53,723      45,700
Gross profit   63,936      48,471      20,707      16,251      18,077      13,704
Selling        25,391      20,684      8,903       6,801       7,179       5,848
expenses
General and
administrative 13,926      11,991      4,636       3,882       3,937       3,390
expenses
Other income  (34)        (160)       -           (113)       (10)        (45)
Total
operating      39,283      32,515      13,539      10,570      11,106      9,193
expenses
Operating      24,653      15,956      7,168       5,681       6,971       4,511
income
Financial      8,836       4,432       4,249       2,698       2,498       1,253
income
Financial      747         293         (54)        238         211         83
expense
               8,089       4,139       4,303       2,460       2,287       1,170
Income before
taxes on       32,742      20,095      11,471      8,141       9,258       5,681
income
Taxes on      8,106       4,875       2,876       1,848       2,292       1,378
income
Profit for the 24,636      15,220      8,595       6,293       6,966       4,303
period
Earnings per
share:


Earnings per
share


Basic earnings 1.90        1.17        0.66        0.49        0.54        0.33
per share
Diluted
earnings per   1.90        1.17        0.66        0.49        0.54        0.33
share
Shares used
incomputation 12,974,245  12,978,723  12,974,245  12,974,245  12,974,245  12,974,245
of basic EPS
(*) Convenience translation into U.S. dollars



G. WILLI-FOOD INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                Nine months          Three months         Nine months
                ended September 30,  ended September 30,  ended September 30,
                2 0 1 3     2 0 1 2  2 0 1 3    2 0 1 2   2 0 1 3    2 0 1 2
                NIS                                       U.S. dollars (*)
                In thousands
Cash flows -
operating
activities
Profit from
continuing      24,636      15,220   8,595      6,293     6,965      4,303
operations
Adjustments to
reconcile net
income to net
cash from       (13,967)    (8,889)  (3,442)    6,303     (3,949)    (2,513)
continuing
operating
activities
(Appendix)
Net cash from
continuing      10,669      6,331    5,153      12,596    3,016      1,790
operating
activities
Net cash from
discontinued    -           -        -          -         -          -
operating
activities
Cash flows -
investing
activities
Acquisition of
property plant  (5,705)     (1,247)  (145)      (1,048)   (1,613)    (353)
and equipment
Proceeds from
sale of         29          698      -          656       8          197
property plant
and Equipment
Additions to
long term other (445)       -        -          -         (126)      -
receivables
Proceeds from
(used in)
purchase of     (4,435)     12,317   (33,300)   (19,450)  (1,254)    3,482
marketable
securities, net
Net cash from
(used in)
continuing      (10,556)    11,768   (33,445)   (19,842)  (2,985)    3,326
investing
activities
                            -                   -
Net cash from
discontinued    -           13,500   -          -         -          3,817
investing
activities
Cash flows -
financing
activities
Investment in   -           (702)    -          -         -          (198)
treasury stocks
Short-term bank (9,930)     -        -          -         (2,807)    -
credit, net
Net cash used
in continuing   (9,930)     (702)    -          -         (2,807)    (198)
financing
activities
Net cash from
discontinued    -           -        -          -         -          -
financing
activities
Increase
(decrease) in   (9,817)     30,897   (28,292)   (7,246)   (2,776)    8,735
cash and cash
equivalents
Cash and cash
equivalents at
the beginning   57,563      34,661   76,038     72,804    16,275     9,800
of the
financial
period
Cash and cash
equivalents of
the end of the  47,746      65,558   47,746     65,558    13,499     18,535
financial
period
(*) Convenience Translation into U.S. Dollars.



G. WILLI-FOOD INTERNATIONAL LTD.
APPENDIX TO CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                    Nine months          Three months      Nine months
                    ended September 30,  ended September   ended September 30,
                                         30,
                    2 0 1 3    2 0 1 2   2 0 1 3  2 0 1 2  2 0 1 3    2 0 1 2
                    NIS                                    U.S. dollars (*)
                    In thousands
Adjustments to
reconcile net
income to net cash
from operating
activities
Depreciation and    3,302      1,894     1,136    (77)     934        535
amortization
Deferred income     1,296      (197)     993      55       366        (56)
taxes
Capital Gain on
disposal of         (29)       (100)     -        (40)     (8)        (28)
property plant and
equipment
Unrealized loss
(gain) on           (7,021)    567       (3,901)  (161)    (1,985)    161
marketable
securities
Stock based
compensation        10         66        4        19       3          19
reserve
Employees benefit,  -          (71)      -        18       -          (20)
net
Changes in assets
and liabilities:
Decrease (increase)
in trade            (7,389)    (10,140)  2,085    1,058    (2,089)    (2,867)
receivables and
other receivables
Decrease (increase) 1,650      4,348     (3,779)  4,716    466        1,229
in inventories
Increase (decrease)
in trade and other  (5,786)    (5,256)   20       715      (1,636)    (1,486)
payables, and other
current liabilities
                    (13,967)   (8,889)   (3,442)  6,303    (3,949)    (2,513)
(*) Convenience Translation into U.S. Dollars.



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.
Raviv Segal, CFO
(+972) 8-932-1000
raviv@willi-food.co.il

SOURCE G. Willi-Food International Ltd.

Website: http://www.willi-food.com