2023 Full-year results
Bunnings Group performance overview
• FY23 continues a four-year period of significant growth:
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Sales have increased more than $5.3b or 40.7%
Earnings (excl property) have increased more than $650m or 42.2%
Revenue growth of 4.4% to $18.5b
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Total store sales growth of 3.7% and store-on-store sales
growth of 1.8%
Growth in both consumer and commercial and across all trading
regions, despite prolonged wet weather in 1H23
- 2H23 reflected strong activity from commercial customers partially
offset by lower consumer sales
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Robust consumer demand continued for repairs and maintenance
and smaller DIY projects, but with consumers more cautious in
making big-ticket purchases and commencing larger projects
Earnings growth (excl property) of 1.9% to $2.2b
Reflects resilience of Bunnings' business model, supported by cost
discipline and productivity initiatives to manage the impact of higher
cost inflation during the year
Return on capital (R12) of 65.4%
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Higher average capital employed due to normalisation of inventory
and improved stock availability post-COVID
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