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InterCure Ltd. Alexander Rabinovitch , CEO of InterCure noted: 'Yesterday, we announced the expansion of our strategic partnership with Cookies to the German market, the largest market in Europe, which is experiencing accelerated growth and becoming a key target market for Intercure. Intercure grew double-digit in the first half and presented profitable quarters, the 16th and 17th in a row. This consistent performance highlights our business model's strength and commitment to leading the pharmaceutical cannabis market even in this challenging time. In the first half, we heavily invested in the restoration of the company's main facility located at Kibbutz Nir Oz. The facility was damaged by the terrorist attack and is expected to gradually return to full capacity in the coming quarters, in accordance with receiving compensation from the authorities for the direct and indirect damages which the company is entitle to. Alexander Rabinovitch continued: 'Intercure is set for a significant growth in the coming quarters and years in all territories, and to that end, we have executed strategic actions to strengthen the company's high quality cultivation and supply chain in Canada and Europe. Entering the German market with great impact by the company's leading product lines, including Cookies, the globally most recognized cannabis brand , is a significant step in our commitment to provide high-quality, pharma-grade cannabis to patient communities and creating value to our shareholders. InterCure is thankful to its managers and employees for their commitment and to its strategic partners in Israel and worldwide who stand with us during this time of war. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated 'seed-to-sale' model to lead the fastest growing cannabis global market outside of North America. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses and gains on financial assets, non-controlling interest and other expenses or income. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the company. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U. More detailed information about the risks and uncertainties affecting us is contained under the heading 'Risk Factors' included in the Company's most recent Annual Report on Form F and in other filings that we have made and may make with the Securities and Exchange Commission in the future. Amos Cohen, Chief Financial Officer amos intercure. Accessibility: Skip TopNav. Revenues for the first half of were affected by damages caused by the terrorist attack on October 7, , 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 located at Kibbutz Nir Oz. To date, InterCure has already received tens of millions of NIS as partial advance payments from the Israeli authorities. Restoring the Southern Facility continues in accordance with receiving advance payments from the Israeli authorities. Expects double digit growth throughout the second half of compared to first half of due to expected launches in German and UK markets. The Company's operating profit was NIS 11 million. Continued expansion of the Company's dedicated medical cannabis pharmacy chain to a total of 24 active locations as of today. Since October 7, , war situation was declared by the Israeli government. Restoring the Southern Facility continues with accordance of receiving advance payments from the Israeli authorities. To date, the Company has received tens of millions of NIS as advance payments from the Israeli authorities in relation to such compensation and expects to receive additional substantial advance payments to support the Southern Facility restoration. Enhancing branded product offerings with the most-recognized global cannabis brand and expects to launch Cookies Corners licensed pharmacies in Germany and UK, alongside differentiated online platforms with the official cookies retail experience. Continued execution of the Company's global expansion plan. Expects double digit growth throughout the second half of compared to first half of Contacts InterCure Ltd. Gross profit before effect of fair value. EBITDA adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses and gains on financial assets, non-controlling interest and other expenses or income. As of June NIS in thousands. Financial assets measured at fair value through profit or loss. Property, plant and equipment and right-of-use asset. Short term loan from non-controlling interest. Liabilities in respect of employee benefits. Total long-term liabilities. Capital reserve for transactions with controlling shareholder. Capital reserve for transactions with non-controlling interests. For the 6-months ended on June Year ended December Cost of revenue before fair value adjustments. Gross income before impact of changes in fair value. Unrealized changes to fair value adjustments of biological assets. Loss from fair value changes realized in the current year. Changes in the fair value of financial assets through profit or loss, net. Profit before tax on income. Total comprehensive Profit loss. Profit loss attributable to:. Other expenses income , net without other income from the Tax authorities. Impairment losses and gains on financial assets through profit and loss.

Cannabis in Israel

Nis buy Cannabis

The company also said that it is investing in a production plant in Tirat Hacarmel, using innovative technology. The company uses an aeroponic cultivation method - cannabis cultivation in the air based on oxygen use. The automated aeroponic cultivation system is at a height of four meters, with the cannabis grown and monitored in unique growing rooms, which are controlled by climate systems developed especially for the company, independent of the weather outside. The company explains that the uniform growing conditions enable uniformity in the quality of the products, and that the system utilizes spraying of recycled water, with fertilizer added, on the roots of the plants, without use of pesticides. The aeroponic greenhouses make it possible to speed up the cannabis cultivation process. This year the company began marketing its products to pharmacies and according to Binyaminov marketing operations are set to expand. He tells 'Globes,' 'The company is currently in a stage of market penetration. In the coming months, we will also begin to market medical cannabis oil products. Each unit can cultivate up to 1, plants. Growth control is conducted using AI-based sensors in each unit and in the greenhouse itself, allowing full control of cultivation conditions. Published by Globes, Israel business news - en. Meytal Vaizberg. The company is investing in a production plant in Tirat Hacarmel, using innovative aeroponic cultivation technology. MedicannX aeroponic cultivation of cannabis credit: MedicannX.

Nis buy Cannabis