InterCure reports 15th consecutive quarter of profitability By Investing.com


NEW YORK & HERZLIYA, Israel – InterCure Ltd. (NASDAQ: INCR) (TASE: INCR), a leading cannabis company, has revealed its first financial results for the full year 2023, highlighting steady profitability despite the challenges. The company announced annual revenue of NIS 351 million for 2023, with the second half of the year generating NIS 140 million. InterCure’s EBITDA for the year is expected to exceed NIS 50 million.

The company’s performance in the third and fourth quarters of 2023 showed its fourteenth and fifteenth consecutive profits, with positive EBITDA and operating profit.

This comes after a year disrupted by terrorism and the war in Gaza, which has affected the economy. However, InterCure has received tens of millions of shekels in slightly higher payments from the Israeli authorities as compensation for direct or indirect damages, and restitution.

InterCure also noted its expansion efforts, including launching 40 new GMP-certified SKUs in 2023 and entering into an exclusive partnership with TYSON 2.0, expanding its reach to Israel, Australia, the United Kingdom, Germany, and other EU countries.

The company’s global expansion plans continue, with the launch of its first products in Germany expected soon and an eye on the cannabis revolution in the US.

The company’s product portfolio has grown, and has expanded its dedicated cannabis locations to 24 locations as of March 2024. InterCure now fully owns Cannolam LTD, including international contractual rights and Cookies™, along with Israel’s largest dedicated medical team. pharmacies, Givol™.

Alexander Rabinovitch, CEO of InterCure, expressed confidence in the company’s resilience and growth, citing the global level of medical cannabis and the FDA’s recent recommendations as positive indicators. The company is also working to rehabilitate its facilities in southern Israel, which were affected by the war and are used by the Israel Defense Forces.

InterCure plans to file its annual report on Form 20F by the end of April 2024, which provides full financial results for the year ended December 31, 2023. Preliminary financial estimates are based on preliminary evaluations and are subject to change, with no assurance given. is an independent accounting firm at this time. These results are based on a press release and have not been independently verified.

InvestingPro Insights

As InterCure Ltd. (NASDAQ: INCR) continues to demonstrate its strength and profitability through strategic expansion and continuous revenue growth, looking at real-time data from InvestingPro provides additional insight into the company’s health and market performance. InterCure’s market cap is a modest $126.89 million USD, reflecting its position in the competitive cannabis market.

The company’s P/E ratio, based on the latest performance for the last twelve months from Q2 2023, is very high at 43.55, which means that investors can expect future growth. However, this is offset by a PEG ratio of -1.03, indicating the company’s growing concern over financial growth in terms of the P/E ratio. Despite these numbers, InterCure’s earnings growth rate remains strong at 28.06% over the same period, indicating strong sales growth.

InvestingPro’s advice reveals that InterCure is trading at a high EBITDA ratio and is close to 52 weeks, with a price of 94.49% of this price. This may indicate strong market confidence in the future prospects of the company. In addition, the company has seen a significant increase in stock price and a return of 110.11% in the last three months. These metrics determine how strong a company’s recent performance has been and can attract investors looking for interesting companies.

For those interested in more detailed analysis and additional InvestingPro advice for InterCure, which also includes information on the company’s debt levels, profit prospects, and dividend plans, you can find more information at https://www.investing.com/pro/INCR. Here are 12 other tips that can help investors make informed decisions. To get these tips and all the suite InvestingPro use the coupon code PRONEWS24 to receive an additional 10% on annual or bi-annual Pro and Pro+ subscriptions.

This article was created with the help of AI and reviewed by an editor. For more information see our T&C.

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