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29 August 2019 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Appendix 4E and 2019 Annual Report Attached for release to the market is the Woolworths Group Appendix 4E and 2019 Annual Report for the full year ended 30 June 2019 (53 weeks). For further information contact: Investors and Analysts: Paul van Meurs, Head of Investor Relations: +61 407 521 651 Media: Woolworths Group Press Office: +61 2 8885 1033 For personal use only Woolworths Group Limited ABN 88 000 014 675 Appendix 4E – Preliminary Final Report under ASX Listing Rule 4.3A Current reporting period (53 weeks) 25 June 2018 to 30 June 2019 Prior corresponding period (52 weeks) 26 June 2017 to 24 June 2018 RESULTS FOR ANNOUNCEMENT TO THE MARKET Key information % CHANGE $M Total revenue from continuing operations 5.3 to 59,984 Profit from continuing operations after tax attributable to equity holders of the parent entity (7.0) to 1,493 Net profit attributable to equity holders of the parent entity 56.1 to 2,693 Details relating to dividends 1 CENTS PER SHARE $M 2019 interim dividend paid on 5 April 2019 45 593 2019 final dividend declared on 29 August 2019 2,3 57 717 4 1 All dividends are fully franked at a 30% tax rate. 2 Record date for determining entitlement to the 2019 final dividend is 4 September 2019. 3 The 2019 final dividend is payable on or around 30 September 2019 and is not provided for at 30 June 2019. 4 Represents the anticipated dividend based on the shares on issue as at the date of this report. This value will change if there are any shares issued between the date of this report and the ex-dividend date. The Dividend Reinvestment Plan (DRP) remains active. Eligible shareholders may participate in the DRP in respect of all or part of their shareholding. There is currently no DRP discount applied and no limit on the number of shares that can participate in the DRP. Shares will be allocated to shareholders under the DRP for the 2019 final dividend at an amount equal to the average of the daily volume weighted average market price of ordinary shares of the Company traded on the ASX over the period of 10 trading days commencing on 6 September 2019. The last date for receipt of election notices for the DRP is 5 September 2019. The Company may acquire shares on-market during this period to satisfy its obligations under the DRP. NET TANGIBLE ASSETS PER SHARE AS AT 30 JUNE 2019 24 JUNE 2018 CENTS PER SHARE CENTS PER SHARE Net tangible assets per share 298.6 305.8 DETAILS OF SUBSIDIARIES AND ASSOCIATES Entities where control was gained or lost During the period ended 30 June 2019, Woolworths Group Limited incorporated the following entities: Woolworths Petrol Limited (6 July 2018), WGP No 2 Pty Limited (21 December 2018), GDL RX NO 7 Limited (5 February 2019), W23 Pty Limited (2 April 2019), and W23 Investments Pty Limited (30 May 2019). Each of these entities is incorporated in Australia except for GDL RX NO 7 Limited which is incorporated in New Zealand. Control was lost over Woolworths Petrol Limited on 1 April 2019 following completion of the sale of Woolworths Group Limited’s Petrol business to EG Group. Details of associates LEGAL OWNERSHIP INTEREST AS AT 2019 2018 The Quantium Group Holdings Pty Limited 47.3% 47.3% SouthTrade International Pty Ltd 25.0% 25.0% B & J City Kitchen Pty Limited 23.0% 23.0% For personal use only OTHER Additional Appendix 4E disclosure requirements and further information including commentary on significant features of the operating performance, results of segments, trends in performance and other factors affecting the results for the current period are contained in the 2019 Annual Report and accompanying Press Release (2019 Full Year Results Announcement). The consolidated financial statements contained within the 2019 Annual Report, of which this report is based upon, have been audited by Deloitte Touche Tohmatsu. 1 | WOOLWORTHS GROUP LIMITED | APPENDIX 4E Better Together2019 ANNUAL REPORT For personal use only Woolworths Group Limited ABN 88 000 014 675 Contents SECTION 1 PERFORMANCE HIGHLIGHTS Our Impact 2 2019 Our Key Priorities 4 Sustainability Highlights 8 Chairman's Report 10 Chief Executive Officer’s Report 12 How we create value 14 highlights Group Financial Performance 16 SECTION 2 BUSINESS REVIEW Woolworths Group is led by its Australian Food 20 purpose, to create better experiences New Zealand Food 24 Endeavour Drinks 26 Progress on together for a better tomorrow. BIG W 28 our key priorities Hotels 29 Guided by our Core Values and agile Discontinued Operations 30 Read about the progress on the Group’s key strategic Ways‑of‑Working, we want our actions Our Material Risks 31 priorities including a focus on culture, easier shopping experiences and the foundations for a digitally-enabled future. to have a positive impact every day SECTION 3 and to define what makes Woolworths DIRECTORS’ REPORT PAGE 4 Governance 36 Group different. Customer demands Board Skills and Experience 37 Board of Directors 38 are changing rapidly and the retail Group Executive Committee 40 environment is evolving, and in this Directors’ Statutory Report 42 Remuneration Report 44 Group Sustainability update environment we will continue to transform the Group to better meet SECTION 4 Read about the progress across the Group’s FINANCIAL REPORT sustainability agenda, including the work behind our customers’ needs, together. Auditor's Independence Declaration 66 climate change risks and improvements to responsible Financial Report 67 sourcing practices. Directors’ Declaration 131 Independent Auditor’s Report 132 PAGE 8 We create better SECTION 5 experiences together OTHER INFORMATION Shareholder Information 137 for a better tomorrow. Corporate Governance Statement 138 Glossary 139 Company Directory Inside Back Cover Chairman and CEO update For personal use only Chairman, Gordon Cairns, This is an interactive PDF and CEO, Brad Banducci, designed to enhance your share their insights on F19 experience. The best way to view achievements, areas to this report is with Adobe Reader. improve and the evolution Click on the links on the contents pages or use the home of Woolworths Group. button in the footer to navigate the report. PAGE 10–13 Contents SECTION 1 PERFORMANCE HIGHLIGHTS Our Impact 2 2019 Our Key Priorities 4 Sustainability Highlights 8 Chairman's Report 10 Chief Executive Officer’s Report 12 How we create value 14 highlights Group Financial Performance 16 SECTION 2 BUSINESS REVIEW Woolworths Group is led by its Australian Food 20 purpose, to create better experiences New Zealand Food 24 Endeavour Drinks 26 Progress on together for a better tomorrow. BIG W 28 our key priorities Hotels 29 Guided by our Core Values and agile Discontinued Operations 30 Read about the progress on the Group’s key strategic Ways‑of‑Working, we want our actions Our Material Risks 31 priorities including a focus on culture, easier shopping experiences and the foundations for a digitally-enabled future. to have a positive impact every day SECTION 3 and to define what makes Woolworths DIRECTORS’ REPORT PAGE 4 Governance 36 Group different. Customer demands Board Skills and Experience 37 Board of Directors 38 are changing rapidly and the retail Group Executive Committee 40 environment is evolving, and in this Directors’ Statutory Report 42 Remuneration Report 44 Group Sustainability update environment we will continue to transform the Group to better meet SECTION 4 Read about the progress across the Group’s FINANCIAL REPORT sustainability agenda, including the work behind our customers’ needs, together. Auditor's Independence Declaration 66 climate change risks and improvements to responsible Financial Report 67 sourcing practices. Directors’ Declaration 131 Independent Auditor’s Report 132 PAGE 8 We create better SECTION 5 experiences together OTHER INFORMATION Shareholder Information 137 for a better tomorrow. Corporate Governance Statement 138 Glossary 139 Company Directory Inside Back Cover Chairman and CEO update Chairman, Gordon Cairns, For personal use only and CEO, Brad Banducci, share their insights on F19 achievements, areas to improve and the evolution of Woolworths Group. PAGE 10–13 2 3 ANNUAL REPORT 2019 REPORT ANNUAL GROUP WOOLWORTHS Carbon emission Our reduction % 18 impact TEAM below 2015 levels Executive and senior Solar power manager positions COMMUNITY generation held by women 10,686MWH Resourcing the HIGHLIGHTS 1PERFORMANCE 34% Direct community Future Indigenous investment team members 2,279 $44.3M Team members Total recordable Waste diverted injury frequency rate from landfill REVIEW 2 BUSINESS 196,000+ Own Brand products that have undergone 368,935t Voice of Team 14.99 a nutritional renovation engagement score OUR STORE 70 NETWORK 80% Stores with natural Young team members refrigeration REPORT 3 DIRECTORS' <25 years old systems Food relief diverted 72,319 to people in need 18 Total 18.8M MEALS 4REPORT FINANCIAL 3,292 ENVIRONMENT Community contribution as a % of EBIT Australian Food 1,024 1.40% New Zealand Food 5INFORMATION OTHER 180 Endeavour Drinks CUSTOMERS 1,577 Customers Australian Food Group Pick up Return on funds 1 BIG W Revenue 1 EBIT served on average customer survey, locations Free cash flow employed 183 per week VOC NPS before dividends (normalised) 1 $2,724M Hotels 30M 51 +3,000 For personal use only $941M 24.2% $59,984M 328 3,973 6 $M 2,724 2,548 2,44 Transactions Woolworths Rewards Customer visits per 3 Australian Food 39,568 2,326 Dividend per share Tax paid 2 members week online New Zealand Food 6,291 Endeavour Drinks 8,657 ECONOMIC BIG W 3,797 1.6B 11.7M 2.1M 102� $744M Hotels 1,671 20154 2016 2017 2018 2019 1 From continuing operations 2 In Australian Dollars.
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