Investor Presentaiton
178
Subleases
The key terms and conditions of the subleases between Woolworths Group Limited and Endeavour Group Limited
are as follows:
TERM
Head lease
Commencement
date and term
Option terms
Occupancy costs
Amenity
Dealings
Make good
obligations
DESCRIPTION
Glossary
GLOSSARY
Active eCom customer
Customers that have made a purchase online in the last four weeks
AGW
Australian Grocery Wholesalers Pty Limited
The subleases contain an obligation on Endeavour to perform and observe Woolworths'
obligations as tenant under the head lease that relate to the liquor premises. There is an
obligation on Woolworths to observe and perform its obligations under the head lease.
The term and further terms of each sublease align with the term and further terms under
the relevant head lease, minus one day.
Where Woolworths exercises its option to renew the head lease, it must offer a further term
to Endeavour. However, in circumstances where head leases include an obligation to trade
as a liquor store, Endeavour is obliged to exercise its option if Woolworths does.
The rent and outgoings payable are calculated according to the proportion of the area of the
liquor premises against the area of the whole premises. All occupancy costs must be paid
by Endeavour to Woolworths, with any adjustments to outgoings to be made at the end of the
financial year.
Endeavour must not do anything that would detract from the amenity of the supermarket
premises or interfere with Woolworths' business.
Endeavour must not assign, sublet or license without Woolworths' consent. Consent may
be granted or withheld at Woolworths' absolute discretion. A change in control of Endeavour
is a breach of the sublease.
B2B
B2C
Cash realisation ratio
(CRR)
Comparable sales
Cost of doing business
(CODB)
Customer fulfilment
centre (CFC)
DAP
Business to business
Business to customer
Operating cash flow as a percentage of Group net profit after tax before depreciation
and amortisation
Measure of sales excluding stores that have been opened or closed in the last 12 months
and existing stores where there has been a demonstrable impact from store disruption
because of store refurbishment or new store openings/closures
Expenses relating to the operation of the business
Dedicated online distribution centre
Endeavour is required to leave the liquor premises in good and tenantable repair and condition.
Endeavour must comply with the make good requirements under the head lease.
179
Annual Report 2023
Woolworths Group
1
highlights
Performance
2
Delivery Unlimited
DC
Direct to boot
eStore
Everyday Market
4-yr CAGR
FSC
Funds employed
GMV
HSR
MSRDC
Net assets employed
Net cash flow
Net Promoter Score
(NPS)
n.m
PC3
Pick up
PPE
Directly-attributable profit only includes costs directly attributable to the B2C eCommerce
business, such as picking, packing and delivery costs; CFC and variable DC costs; marketing
costs; eCommerce support costs; and CFC and eCommerce-specific asset depreciation
Subscription service that gives customers access to free delivery on any Next and Same Day
Delivery windows, or reduced fees for quicker delivery options (Delivery Now), free shipping
at Everyday Market and 2x Everyday Rewards points on all online orders
Distribution centre
Where a customer places an order online and drives to a dedicated area where a team
member places the order directly in the customer's boot
Dedicated store for the fulfilment of online orders sometimes incorporating automation
An integrated online marketplace that allows customers to shop products from other
Woolworths Group brands and partners alongside their groceries
Four-year compound annual growth rate. F23 results have been compared to normalised F19
results which have removed the impact of the 53rd week and if AASB 16 had been in place in F19
Forest Stewardship Council
Net assets employed, excluding net tax balances
Gross merchandise value
Health star rating
Melbourne South Regional Distribution Centre
Net assets, excluding net debt and put option liabilities over non-controlling interests
Cash flow generated by the Woolworths Group after equity related financing activities
including dividends, repayment of lease liabilities and proceeds from related party
A loyalty measure based on a single question where a customer rates a business on ascale of
zero to 10. The score is the net result of the percentage of customers providing a score of nine
or 10 (promoters) less the percentage of customers providing a score of zero to six (detractors)
Not meaningful
Primary Connect third-party logistics
A service which enables collection of online shopping orders in store or at selected locations
Personal protective equipment
Business
review
3
Directors'
Report
4
Report
Financial
5
Other
informationView entire presentation