2023 Full-year results
Working capital and cash flow
·
·
Divisional operating cash flows increased 45.6%,
with divisional cash generation of 101%1
- Excluding Wesfarmers Health, divisional cash flow
increased 40.7%, with cash generation of 102%¹
Strong divisional earnings growth
- Decrease in inventories due to reduction in buffer
stock at Kmart and lower commodity pricing in
WesCEF
Group operating cash flows increased 81.6% to $4,179m
- Increase in divisional operating cash flow
Total
Bunnings
Kmart Group2
WesCEF
•
Net working capital cash movement
Year end 30 June ($m)
2023
2022
Receivables and prepayments
41
(272)
Inventory
57
(1,183)
Payables
(48)
322
50
(1,133)
(103)
(471)
218
(339)
30
(177)
Officeworks
(14)
(31)
WIS
(54)
(35)
Wesfarmers Health
(79)
(117)
Other²
52
37
50 (1,133)
-
Lower tax paid due to timing of payments
Free cash flows of $3,627m, an increase of $2,517m
Higher operating cash flow
-
-
Proceeds from the sale of 2.8% interest in Coles
- Impact of cash consideration for acquisitions FY22
Partially offset by higher capital expenditure and lower
proceeds on sale of property
Total
Inventory as % sales³
Bunnings
.
Group cash realisation ratio of 100%
Kmart Group4
2H19 2H20 2H21 2H22 2H23
Impacted by COVID-19
2H19 2H20 2H21 2H22 2H23
Impacted by COVID-19
Note: Refer to slide 64 for relevant definitions.
1. Includes Catch but excludes OnePass and supporting capabilities.
2. Kmart Group 2022 results have been restated to exclude Catch, which is included in Other net working capital cash movements.
3. Inventory balances as at 30 June relative to 2H sales.
4. Excludes Catch.
2023 Full-year results | 14View entire presentation