InterCure Reports First Half 2024 Results: Revenue of NIS 126 Million, Adjusted EBITDA of NIS 21 Million

• Revenue in the first half of 2024 amounted to NIS 126 million, in addition to adjusted EBITDA¹of NIS 21 million (about 17% of revenues).
• Both quarters (Q1 and Q2 of 2024) ended with positive EBITDAs and operating profit, representing InterCure’s 16^and and 17^and consecutive quarter of profitability².
• Revenues in the first half of 2024 were impacted by the damage caused by the terrorist attack on October 7, 2023 and the war in Gaza.
• InterCure is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused to its Southern Facility in Kibbutz Nir Oz. To date, InterCure has already received tens of millions of NIS in partial advances from the Israeli authorities.
• Announced expansion of its strategic partnership with Cookies to Germany and expects to launch the first Cookies products in Germany in the fourth quarter of 2024.
• Restoration of the southern facility is continued in accordance with the receipt of advances from the Israeli authorities.
• Expect double-digit growth in the second half of 2024 (compared to the first half of 2024) due to expected launches in the German and UK markets.

NEW YORK and HERZLIYA, Israel, Aug. 29, 2024 (GLOBE NEWSWIRE) — InterCure BV. (NASDAQ: INCR) (TASE: INCR) (“InterCure” or the “Company“) is pleased to announce its financial and operating results for the six months ended June 30, 2024. Unless otherwise stated, all amounts are expressed in New Israeli Shekels (NIS).

Financial highlights and milestones first half 2024