2023 Full-year results
Capital expenditure
•
•
•
•
Gross capital expenditure of $1.3b, up 12.6%
-
-
-
WesCEF includes development capex of $394m
and capitalised interest of $42m relating to the
Mt Holland mine and concentrator and
Kwinana refinery
Continued investment in data and digital
Addition of the Wesfarmers Health division
Net capital expenditure of $1.2b, up 33.8%
Lower proceeds from the sale of PP&E largely
reflect reduced Bunnings property activity
Expected FY24 net capital expenditure of $1,100m to
$1,400m, subject to net property investment and
timing of major expansion projects in WesCEF
- Inclusive of approximately $350m of development
capex and $20m of capitalised interest relating to
the Covalent lithium project
WesCEF's share of total capex for the Covalent
lithium project remains in line with prior guidance of
$1,200m to $1,300m in nominal terms, excluding
capitalised interest
Kmart Group²
Capital expenditure
Year ended 30 June1 ($m)
Bunnings
2023
2022
Var %
405
349
16.0
127
105
21.0
WesCEF3
518
455
13.8
Officeworks
71
68
4.4
Industrial and Safety
73
64
14.1
Wesfarmers Health
41
3
n.m.
Catch
10
10
45
(77.8)
Other4
43
55
(21.8)
Gross capital expenditure
1,288
1,144
12.6
Sale of PP&E
(105) (260) (59.6)
Net capital expenditure
1,183
884
33.8
1. Capital expenditure provided on a cash basis.
2. 2022 results have been restated to exclude Catch.
3. 2022 includes capex associated with the Covalent lithium project of $304m and capitalised interest of $34m in 2022.
4. 2023 and 2022 includes capital expenditure for One Digital excluding Catch..
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