Are Investors Missing The Forest? 35% Stock Drop Masks The International Potential Of This Weed Company
Are Investors Missing The Forest? 35% Stock Drop Masks The International Potential Of This Weed Company
InterCure reported an EBITDA of 17.6 million NIS for H1 2024, compared to the 5 million NIS estimate. However, this includes government compensation for damages caused by the conflict, which makes comparisons difficult. InterCure Ltd. (NASDAQ:INCR) has shown resilience in its H1 2024 performance despite facing significant challenges, according to equity research by Pablo Zuanic of Zuanic & Associates. The company reported revenues of 126 million NIS ($33.97 million), surpassing the estimated 121 million NIS.
InterCure有限公司（納斯達克：INCR）在2024年上半年的業績表現出色，儘管面臨重大挑戰，根據Zuanic＆Associates的Pablo Zuanic進行的股權研究。該公司報告的收入爲12600萬NIS（3397萬美元），超過了預計的12100萬NIS。
However, this is still below pre-October 2023 levels of 414 million NIS, mainly due to the ongoing disruption at its southern Israeli facility, which has been occupied by the IDF. The company invested heavily in restoring this facility and expects it to return to full operational capacity in the coming quarters.
然而，這仍低於2023年10月之前的41400萬NIS水平，主要原因是該公司位於以色列南部的設施遭到以色列國防軍的佔領。該公司在恢復該設施方面投入了大量資金，並預計在未來幾個季度將恢復到滿負荷運營能力。
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Cash Reserves Plummet: Government Compensation Boosts EBITDA
現金儲備急劇下降：政府補償提振EBITDA
InterCure reported an EBITDA of 17.6 million NIS for H1 2024, compared to the 5 million NIS estimate. However, this includes government compensation for damages caused by the conflict, which makes comparisons difficult.
InterCure報告了2024年上半年1760萬NIS的EBITDA，高於500萬NIS的估計值。然而，這包括衝突造成的損害的政府補償，使得比較變得困難。
The company ended June with 21 million NIS in cash, down from 111 million NIS in December 2023. Additionally, Zuanic noted the net debt increased from 60 million NIS to 112 million NIS over the same period, although the company has access to an unused credit line of over 22 million NIS.
該公司6月份的現金爲2100萬NIS，低於2023年12月的11100萬NIS。此外，Zuanic指出，淨債務從6000萬NIS增加到11200萬NIS，儘管該公司可以使用超過2200萬NIS的未使用信用額度。
Double-Digit Growth On The Horizon
前景看漲的雙位數增長
Looking ahead, InterCure is guiding for double-digit sales growth in H2 2024, with revenues expected to reach around 140 million NIS, lower than previous estimates of 180 million NIS.
展望未來，InterCure預計2024年下半年銷售額將實現兩位數增長，預計達到約14000萬NIS，低於先前的18000萬NIS的估計。
The company's expansion strategy includes launching more than 30 new GMP SKUs in collaboration with brands such as Cookies, Binske and Organigram (NASDAQ:OGI). InterCure plans to introduce Cookies products in Germany by Q4 2024, in addition to ongoing sales in the UK.
公司的擴張策略包括與品牌如Cookies、Binske和Organigram（納斯達克:OGI）合作推出超過30種新的GMP產品。InterCure計劃在2024年第四季度在德國引進Cookies產品，除了在英國持續銷售外。
Stock Performance And Valuation
股票業績和估值
The stock has experienced a drop from its May 2024 peak of $3.12 to $1.97. Despite the decline, Zuanic notes that the company's valuation remains attractive, with the stock trading at 1x sales and 8x EBITDA for CY25.
該股票從2024年5月最高點3.12美元下跌至1.97美元。儘管下跌，Zuanic指出該公司的估值仍然具有吸引力，股票交易爲CY25的銷售額的1倍和EBITDA的8倍。
InterCure's enterprise value is currently estimated by Zuanic at $132 million, including $96 million in market capitalization and $36 million in net debt.
Zuanic目前估計InterCure的企業價值爲1.32億美元，包括9.6億市值和3.6億淨債務。
譯文內容由第三人軟體翻譯。
