Investor Presentaiton
22
22
Group financial
performance
F23 marked a return to relative stability after several years of material COVID-related
disruption, with an improved financial performance driven by the non-recurrence
of direct COVID costs, elevated inflation and the benefits of ongoing investment.
Group sales
$64.3B
▲ 5.7% from F22
The increase in Group sales in F23 was driven
by sales growth across all segments.
Group eCommerce sales
$6,592M
▲ 0.8% from F22
Group eCommerce sales in F23 increased by 0.8% with
a strong recovery in H2, growing by 11.1%. eCommerce
penetration for the year was 11.0%.
F23 sales summary
$ MILLION
Australian Food
Australian B2B2
New Zealand Food (AUD)
New Zealand Food (NZD)
BIG W
Other 2,3
Total Group
23
Annual Report 2023
Woolworths Group
CHANGE
1
F23
F221
48,047
45,740
5.0%
4,324
3,684
17.4%
7,240
7,092
2.1%
7,912
7,563
4.6%
4,785
4,431
8.0%
(102)
(98)
4.4%
64,294
60,849
5.7%
highlights
Performance
2
F23
F221
CHANGE
Total Group eCommerce sales
6,592
6,542
0.8%
eCommerce sales penetration (%) 4
11.0%
11.4%
(46) bps
Average weekly traffic to Group digital platforms (million) 5
23.0
19.8
16.3%
F23 EBIT summary
Gross margin as a % of sales
26.8%
▲ 51 bps from F22
The gross margin (%) increase was driven by
Australian Food where the absence of COVID costs
across the supply chain, mix and growth in new
businesses more than offset an increase in stockloss.
Cost of doing business as a % of sales
21.9%
▲ 8 bps from F22
Cost of doing business (%) increased marginally with higher
costs primarily driven by wage and other cost inflation
being somewhat offset by the absence of COVID costs,
improved productivity, and sales growth.
$MILLION
Before significant items
Australian Food
Australian B2B
New Zealand Food (AUD)
New Zealand Food (NZD)
BIG W
Other 3
Group EBIT before significant items
Significant items
Group EBIT
Business
review
2,865
63
2,406
56
19.1%
13.0%
3
228
296
(22.9)%
249
316
(21.0)%
145
55
165.3%
(185)
(123)
51.7%
Directors'
Report
3,116
2,690
(117)
6,388
15.8%
n.m.
2,999
9,078
(67.0)%
Other
LO
information
Group EBIT
$3,116M
▲ 15.8% from F22
Strong EBIT growth in Australian Food, Australian
B2B and BIG W in F23 was partly offset by lower
EBIT from New Zealand Food and higher net costs
in the Other segment.
Finance costs
$677M
▲ 12.7% from F22
Finance costs increased in F23 largely due to the
impact of higher interest rates on bank debt and
higher average net debt during the year.
1
F22 restated to include Woolworths at Work as part of Australian Food.
2 Revenue from the sales of goods and services in Australian B2B includes $351 million (2022: $302 million) of freight revenue. However,
at a Group level, this is reclassified and recognised as a reduction in cost of sales. As a result, $351 million (2022: $302 million) reduction
has been recognised in Other. This has not resulted in a change to earnings before interest and tax at a Group level.
3 Other comprises Quantium and MyDeal (which are not considered separately reportable segments), as well as various support functions,
including property and Group and overhead costs, the Group's share of profit or loss of investments accounted for using the equity
method (including Endeavour Group), and consolidation and elimination journals.
4 Group eCommerce penetration is calculated based on Australian Food, New Zealand Food, BIG W and MyDeal sales only. F22 restated
to include Woolworths at Work as part of Australian Food.
5 F22 digital traffic has been restated to include Woolworths Mobile, Healthylife, gift cards, B2B and PetCulture digital platforms.
F23 includes MyDeal.
Note: all references to sales, EBITDA and EBIT are from continuing operations before significant items, unless stated otherwise.
4
Report
Financial
Final dividend per share
58¢
▲ 9.4% from F22
Fully franked final dividend of 58 cents per share,
an increase of 9.4% reflecting profit growth
during the year.
NPAT from continuing operations
attributable to equity holders
of the parent entity after significant items
$1,618M
▲ 4.6% from F22
NPAT from continuing operations attributable to equity
holders of the parent entity after significant items
increased by 4.6% in F23.View entire presentation