Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 100

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 100
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 million, compared to a consolidated operating loss of NIS 64 million. The net loss of includes non-cash amounts such as impairments of goodwill and credit risk and mainly due the damages of our Southern Facility from the war.
 
Adjusted EBITDA – For the fourth year in a row we had positive EBITDA of 8% of the revenues.
 
General and administrative expenses – General and administrative expenses for 2024 have increased primarily due to the expansion of our retail operations and the acquisitions of pharmacies, and the increase in operational manpower including new hires of pharmacists, customer service representatives, pharmacy managers and provision for doubtful debt.
 
Selling and marketing expenses – Selling and marketing expense for 2024 are similar to 2023 at NIS 54 million.
 
Selected Annual Financial Information
 

                                                            As                           
                                                      of December 31                     
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                             2024                  2023                  2022            
Revenue                              238,845               355,553                388,684
Total comprehensive                  (72,786   )           (63,533   )             43,749
profit (loss) for the year                                                               
Basic earnings                         (1.48   )             (1.36   )               0.99
(loss) per ordinary share                                                                
Diluted earnings                       (1.48   )             (1.36   )               0.99
(loss) per ordinary share                                                                
Total current                        391,801               418,804                527,493
assets                                                                                   
Total non-current                    370,773               367,810                410,514
assets                                                                                   
Current Liabilities                  226,750               225,868                312,719
Non-current                          138,153               103,684                123,811
Liabilities                                                                              

74
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Total Current Assets – The decrease in 2024 compared to 2023 was primarily due to the damages caused to our operations and Southern Facility since the terrorist attack that occurred on October 7, 2023 and the declaration regarding a State of War in Israel that followed. While the revenue decreased by 33% the total current assets decreased by 10%.
 
Total Non-Current Assets – The increase in 2024 compared to 2023 was immaterial and primarily due to changes in deferred tax assets, or more specifically, carryforward tax assets.
 
Current Liabilities – Total current liabilities in 2024 have not changed