Selling, General and Administrative Expenses

12 Months Ended

Dec. 31, 2023

Disclosure Of Selling General And Administrative Expenses Abstract

Selling, General and Administrative Expenses

Note 22 – Selling, General and Administrative Expenses

	For the Year Ended December 31,
	2023		2022		2021
	$ Thousands
Payroll and related expenses (1)		26,877		46,660		41,930
Depreciation and amortization		4,212		3,259		2,623
Professional fees		18,190		15,798		16,069
Business development expenses		15,607		15,186		1,566
Expenses in respect of acquisition of CPV Group		-		-		752
Office maintenance		6,524		4,581		3,022
Other expenses		13,305		14,452		9,765
		84,715		99,936		75,727

(1) A portion of this relates to profit sharing for CPV Group employees

The fair value of the CPV Group’s Profit-Sharing Plan is recognized as an expense, against a corresponding increase in liability, over the period in which the unconditional right to payment is achieved. The liability is remeasured at each reporting date until the settlement date. Any change in the fair value of the liability is recognized in the consolidated statements of profit and loss. In 2023, the CPV Group recorded expenses in the amount of approximately NIS 89 million (approximately $24 million) (2022: NIS 46 million (approximately $13 million)).