Investor Presentaiton
100
Auditor's Independence Declaration
Deloitte
23 August 2023
Board of Directors
Woolworths Group Limited
1 Woolworths Way
Bella Vista NSW 2153
Deloitte Touche Tohmatsu
ABN 74 490 121 060
Quay Quarter Tower
50 Bridge Street
Sydney NSW 2000
Australia
Tel: (02) 9322 7000
www.deloitte.com.au
$
$64,294M
Revenue, representing an
increase of 5.7% from the
prior year.
See page 111 ►
2023
Financial Report
Table of Contents
101
Annual Report 2023
Woolworths Group
Consolidated Financial Statements
Consolidated Statement of Profit or Loss
102
Consolidated Statement of Other Comprehensive Income
103
Consolidated Statement of Financial Position
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
104
105
1
106
Notes to the Consolidated Financial Statements
1
General information
1.1
Basis of preparation
107
highlights
Performance
1.2
Other significant accounting policies
108
1.3
Critical accounting estimates and judgements
110
2
Group performance
2.1
Revenue and other income
111
2
2.2
Reportable segments
112
2.3
Branch and administration expenses
115
2.4
Employee benefits expense
115
2.5
Net finance costs
116
Business
review
3
Assets and liabilities
3.1 Trade and other receivables
116
3.2
Inventories
117
3.3
Other financial assets and liabilities
118
3.4 Other assets
120
3.5
Leases
121
3
3.6
Property, plant and equipment
125
3.7
Commitments for capital expenditure
127
Media Group Holdings Pty
3.8
Intangible assets
127
3.9
Investments accounted for using the equity method
130
3.10 Impairment of non-financial assets
132
Directors'
Report
3.11 Income taxes
135
3.12 Trade and other payables
138
3.13
Provisions
138
4
Capital structure, financing, and risk management
4.1
Earnings per share
142
4
4.2
Dividends
142
4.3
Contributed equity
143
4.4
Reserves
144
4.5
Reconciliation of profit for the period to net cash
provided by operating activities
146
4.6
Borrowings
146
4.7
Financial risk management
149
5
Group structure
5.1
Acquisition of subsidiaries
5.2
Subsidiaries
5.3
Parent entity information
5.4
Related parties
156
158
162
164
6
Other
6.1
Contingent liabilities
165
6.2
Share-based payments and share schemes
165
6.3
Retirement plans
168
Financial
Other
Report
information
6.4
Auditor's remuneration
170
6.5
Subsequent events
170
Directors' Declaration
171
Independent Auditor's Report
172
Dear Directors
Auditor's Independence Declaration to Woolworths Group Limited
In accordance with section 307C of the Corporations Act 2001, we are pleased to provide the following declaration
of independence to the Board of Directors of Woolworths Group Limited.
As lead audit partners for the audit of the financial report of Woolworths Group Limited for the 52-week period
•
ended 25 June 2023, we declare that to the best of our knowledge and belief, there have been no contraventions of:
The auditor independence requirements of the Corporations Act 2001 in relation to the audit;
Any applicable code of professional conduct in relation to the audit.
Acquisition of
subsidiaries
During the period, the Group
acquired 100% of Shopper
Ltd and 80.2% of online
marketplace, MyDeal.com.au
Pty Limited.
See page 156
Yours faithfully
Deloitte Jauche Tohmatsy
DELOITTE TOUCHE TOHMATSU
Jens Jubeni
Binhi
Tom Imbesi
Partner
Chartered Accountants
Sydney, 23 August 2023
Travis Simkin
Partner
Chartered Accountants
Sydney, 23 August 2023
58 cents per
share
Final dividend declared,
representing an increase
of 9.4% compared to the
prior year.
See page 142 ►
Liability limited by a scheme approved under Professional Standards Legislation.
Member of Deloitte Asia Pacific Limited and the Deloitte organisation.View entire presentation