Investor Presentaiton
24
Group financial performance
25
45
Annual Report 2023
Woolworths Group
Group profit or loss for the 52 weeks ended 25 June 2023
$ MILLION
Group
EBITDA before significant items
Depreciation and amortisation 1
EBIT before significant items
Finance costs
Income tax expense
F23
F22
CHANGE
5,694
5,051
12.7%
(2,578)
(2,361)
3,116
2,690
15.8%
9.2%
Group balance sheet as at 25 June 2023
$ MILLION
Inventories
Trade payables
Net investment in inventory
Trade, other receivables and prepayments
25 JUNE 2023
26 JUNE 2022
CHANGE
3,698
3,593
105
(5,621)
(5,216)
(405)
(1,923)
(1,623)
(300)
1,319
1,203
116
(677)
(600)
12.7%
Other creditors, provisions and other liabilities
(4,559)
(4,358)
(201)
1
(707)
(566)
24.9%
NPAT before significant items
1,732
1,524
13.7%
Fixed assets, investments, loans to related parties and convertible notes
Net assets held for sale or distribution
10,082
10,000
82
250
266
(16)
Non-controlling interests
(11)
(10)
6.8%
NPAT attributable to equity holders of the parent entity before
significant items
1,721
1,514
13.7%
Significant items after tax
(103)
33
n.m.
NPAT from continuing operations attributable to equity holders
of the parent entity after significant items
1,618
1,547
4.6%
NPAT from discontinued operations attributable to equity holders
of the parent entity after significant items
6,387
n.m.
Intangible assets
Lease assets
Other assets
Total funds employed
Net tax balances
Net assets employed
Cash and borrowings
Derivatives
5,693
5,278
415
9,467
9,995
(528)
413
425
(12)
highlights
Performance
20,742
21,186
(444)
1,248
1,325
(77)
21,990
22,511
(521)
(2,620)
(3,260)
640
2
(60)
(46)
(14)
NPAT attributable to equity holders of the parent entity after
significant items
1,618
7,934
(79.6)%
Net debt (excluding lease liabilities)
(2,680)
(3,306)
626
Lease liabilities
(11,980)
(12,471)
491
Total net debt
(14,660)
(15,777)
1,117
Business
review
MARGINS CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS
Put option over non-controlling interest
(765)
(630)
(135)
Gross margin (%) 2
26.8
26.2
51 bps
Net assets
6,565
6,104
461
Cost of doing business (CODB) (%)²
21.9
21.8
8 bps
EBIT (%)
4.8
4.4
43 bps
Non-controlling interests
Shareholders' equity
Total equity
140
124
16
6,425
5,980
445
3
6,565
6,104
461
SUSTAINABILITY
Scope 1 & 2 emissions (tonnes)³
EARNINGS PER SHARE AND DIVIDENDS
1,941,581
2,117,157
(8.3)%
Closing fully paid ordinary shares outstanding (million) 4
1,214.7
Weighted average number of ordinary shares used in basic EPS (million)
Total Group basic EPS (cents) before significant items
Total Group basic EPS (cents) after significant items
1,214.3
1,209.1
1,221.5
0.5%
(0.6)%
141.7
124.0
133.3
649.6
Total Group diluted EPS (cents) after significant items
132.3
644.8
14.3%
(79.5)%
(79.5)%
Basic EPS (cents) - from continuing operations before significant items
Basic EPS (cents) - from continuing operations after significant items
141.7
124.0
14.3%
133.3
126.7
5.2%
Diluted EPS (cents) - from continuing operations before significant items
Diluted EPS (cents) - from continuing operations after significant items
140.7
123.1
14.3%
132.3
125.7
5.2%
Final dividend per share 5 (cents) - fully franked
Total dividend per share (cents) - fully franked
58
53
9.4%
104
92
13.0%
1
Depreciation of $269 million is included in cost of sales (F22: $229 million).
2 F22 gross margin and cost of doing business restated primarily to reflect the reclassification of distribution centre costs from CODB
to gross margin and reclassification of eCom support costs and overheads from gross margin to CODB.
3 F23 & F22 emissions data reflect market-based scope 2 electricity reporting. F22 has been restated to also reflect new guidance from the
Clean Energy Regulator for treatment of Australian Carbon Credit Units. Further details of the emissions profile are available in the 2023
Sustainability Data Pack.
4 Includes the fully paid ordinary shares on issue of 1,218.7 million (F22: 1,213.9 million), net of shares held in trust of 4.0 million (F22: 4.8 million).
The 2023 final dividend is payable on or around 27 September 2023.
5
KEY RATIOS - BEFORE SIGNIFICANT ITEMS
Closing inventory days (based on cost of sales) 1
Closing trade payable days (based on cost of sales) 1
Group ROFE (%)
Directors'
Report
28.6
29.2
(43.6)
(42.3)
14.9
13.7
(0.6)
(1.3)
1.2 pts
4
1 F22 restated to reflect the reclassification of DC costs from CODB to gross margin and reclassification of eCom overheads from gross
margin to CODB.
Financial
Report
LO
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