Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 101

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 101
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 materially compared to 2023.
 
Non-Current Liabilities – The total amount of non-current liabilities increased in 2024 compared to 2023, primarily due to an increase in bank loans, as part of the need to finance the damages of our Southern Facility due to the war in Gaza. For more information, please see “—B. Liquidity and Capital Resources—Financing Developments”.
 
Cash Flow
 
InterCure’s approach to liquidity is to always have sufficient liquidity to meet its liabilities as they come due. This is achieved by continuously monitoring cash flows and reviewing actual operating expenditures and revenue against budget. 

                            Cash                                      For                       For            
                            Flow                                   12 months                 12 months         
                                                                    ended on                  ended on         
                                                               December 31, 2024         December 31, 2023     
---------------------------------------------------------------------------------------------------------------
Net                                                                       (66,926   )               (53,631   )
cash provided by (used in) operating activities                                                                
Net cash                                                                   26,455                   (82,889   )
provided by (used in) financing activities                                                                     
Net cash                                                                   17,689                     4,773    
used in investing activities                                                                                   
Change in                                                                 (22,782   )              (131,747   )
cash during the period                                                                                         
Exchange                                                                      (39   )   297                    
differences in respect of cash and cash equivalent balances                                                    
Cash                                                                      101,139                   232,589    
and cash equivalents, beginning of year                                                                        
Cash                                                                       78,318                   101,139    
and cash equivalents, end of year                                                                              
 
Net cash flow used by operating activities – The decrease was due to changes in trade conditions as well as the damage to the Southern Facility due to the terrorist attack that occurred on October 7, 2023 and the declaration regarding a State of War in Israel that followed which caused difficulties in supply and affected both revenues and profit as well as cash flow.
 
Net cash used in financing activities – The increase in net cash provided by financing activities for the year ended December 31, 2024 was primarily due to the private placement signed in December 2024. For more information, please see “—B. Liquidity and Capital Resources—Financing Developments”.
 
Net cash used in investing activities – The increase in net cash provided by investing activities for the year ended December 31, 2024 compared to the year ended December 31, 2023, was primarily due to the collecting of loans from