Woolworths Group Limited ABN 88 000 014 675 Together. 2018 ANNUAL REPORT CONTENTS SECTION 1 PERFORMANCE HIGHLIGHTS 2018 Our impact 2 Chairman's Report 4 Chief Executive Officer's Report 5 CONTENTSWoolworths Group Purpose 7 Annual Report Our key priorities 8 SECTIONGroup Sustainability 1 11 PERFORMANCEGroup Financial Performance HIGHLIGHTS 14 2018 Our impact 2 Chairman'sSECTION 2 Report 4 ChiefBUSINESS Executive REVIEW AustralianOfficer's FoodReport 165 EndeavourWoolworths Drinks Group Purpose 187 Annual Report NewOur key Zealand priorities Food 208 PortfolioGroup Sustainability Business — BIG W 2211 PortfolioGroup Financial Business Performance — Hotels 2314 Discontinued Operations 24 SECTIONOverheads, 2 balance sheet BUSINESSand cash flow REVIEW 25 Capital management 26 Australian Food 16 New store rollout plans 26 Endeavour Drinks 18 Non-IFRS financial Pages 4–6 New Zealand Food 20 information and glossary 27 Portfolio Business — BIG W 22 Our Material Risks 29 Portfolio Business — Hotels 23 Chairman Discontinued Operations 24 Overheads,SECTION 3 balance sheet and Chief DIRECTORS’and cash flow REPORT 25 GovernanceCapital management 2632 Executive BoardNew store Skills rollout and Experience plans 2633 OfficerPages 4–6 BoardNon-IFRS of Directors financial 34 Groupinformation Executive and glossaryCommittee 3627 Reports Directors’Our Material Statutory Risks Report 3829 Chairman Remuneration Report 40 Chairman, Gordon Cairns, SECTION 3 and CEO, Chief Brad Banducci, SECTIONDIRECTORS’ 4 REPORT reflect on the achievements of the year, opportunities FINANCIALGovernance REPORT 32 Executive to improve and the focus BoardAuditor's Skills Independence and Experience 33 Officer BoardDeclaration of Directors 6034 areas for the year ahead. GroupFinancial Executive Report Committee 3661 Reports Directors’ DeclarationStatutory Report 11738 RemunerationIndependent Auditor’s Report Report 11840 Chairman, Gordon Cairns, and CEO, Brad Banducci, reflect on the achievements SECTION 54 of the year, opportunities OTHERFINANCIAL INFORMATION REPORT Our customersto improve and the focus FiveAuditor's year summaryIndependence 122 Page 2 areas for the year ahead. ShareholderDeclaration information 60 &Financial Corporate Report Governance 61 Directors’Statement Declaration 126117 Our impact IndependentCompany directory Auditor’s Report 128118 Woolworths Group is a diverse group of Australian and New SECTION 5 Zealand retail businesses that M OTHER INFORMATION impact a number of sectors 29 Our customers Five year summary 122 acrossPage society. 2 served on average per week Shareholder information & Corporate Governance Statement 126 Our impact Company directory 128 Woolworths Group is a diverse group of Australian and New Zealand retailThis businesses is an interactive that PDF designed to enhance your Mexperience. impact a numberThe best of way sectors to view this report29 is with Adobe Reader. Click on across society.the links on the contents pagesserved or use onthe average home button per inweek the footer to navigate the report. CONTENTS SECTION 1 PERFORMANCE HIGHLIGHTS 2018 Our impact 2 Chairman's Report 4 Chief Executive Officer's Report 5 Page 8 CONTENTSWoolworths Group Purpose 7 Annual Report Our key priorities 8 Our key priorities SECTIONGroup Sustainability 1 11 PERFORMANCEGroup Financial Performance HIGHLIGHTS 14 Across the year, Woolworths Group delivered 2018 a number of achievements across our six strategic Our impact 2 Chairman'sSECTION 2 Report 4 priorities, including the continuing transformation ChiefBUSINESS Executive REVIEW of our Australian and New Zealand Food businesses, and the improvement in customer satisfaction scores AustralianOfficer's FoodReport 165 across the Group. EndeavourWoolworths Drinks Group Purpose 187 Annual Report NewOur key Zealand priorities Food 208 PortfolioGroup Sustainability Business — BIG W 2211 PortfolioGroup Financial Business Performance — Hotels 2314 Discontinued Operations 24 SECTIONOverheads, 2 balance sheet BUSINESSand cash flow REVIEW 25 Capital management 26 Australian Food 16 New store rollout plans 26 Endeavour Drinks 18 Non-IFRS financial Pages 4–6 TogetherTogether wewe are:are New Zealand Food 20 information and glossary 27 Portfolio Business — BIG W 22 Our Material Risks 29 ListeningListening toto ourour customers. Connecting personalised and convenient shopping Portfolio Business — Hotels 23 Chairman experiences.experiences. Transforming Transforming of our our Australian Australian and and New New Zealand Zealand Food Food businesses. businesses. Discontinued Operations 24 Evolving our Endeavour drinks business. Unlocking Value in our portfolio. Creating Overheads,SECTION 3 balance sheet and Chief Evolving our Endeavour Drinks business. Unlocking value in our Portfolio. Improving DIRECTORS’and cash flow REPORT 25 end-to-endBETTER processes and SIMPLER to be better end to for end customers processes and for simplercustomer and and safer stores. for stores. GovernanceCapital management 2632 Executive New store rollout plans 26 We create better experiences together. Board Skills and Experience 33 OfficerPages 4–6 Creating better experiences together. BoardNon-IFRS of Directors financial 34 Groupinformation Executive and glossaryCommittee 3627 Reports Directors’Our Material Statutory Risks Report 3829 Chairman Remuneration Report 40 Chairman, Gordon Cairns, SECTION 3 and CEO, Chief Brad Banducci, SECTIONDIRECTORS’ 4 REPORT reflect on the achievements Page 11 of the year, opportunities FINANCIALGovernance REPORT 32 Executive to improve and the focus BoardAuditor's Skills Independence and Experience 33 Officer Group BoardDeclaration of Directors 6034 areas for the year ahead. GroupFinancial Executive Report Committee 3661 Reports Sustainability Directors’ StatutoryDeclaration Report 11738 RemunerationIndependent Auditor’s Report Report 11840 Chairman, Gordon Cairns, Throughout the year, our team and CEO, Brad Banducci, has made significant progress reflect on the achievements towards the achievement of our SECTION 54 of the year, opportunities 2020 Strategy commitments, OTHERFINANCIAL INFORMATION REPORT Our customersto improve and the focus including the important steps to FiveAuditor's year summaryIndependence 122 Page 2 areas for the year ahead. move towards a circular economy. ShareholderDeclaration information 60 &Financial Corporate Report Governance 61 Directors’Statement Declaration 126117 Our impact IndependentCompany directory Auditor’s Report 128118 Woolworths Group is a diverse group of Australian and New SECTION 5 Zealand retail businesses that M OTHER INFORMATION impact a number of sectors 29 Our customers Five year summary 122 acrossPage society. 2 served on average per week Shareholder information & Corporate Governance Page 16 Statement 126 Our impact Company directory 128 Woolworths Group is a diverse Group business update group of Australian and New There were a number of business highlights during Zealand retail businesses that M the year, including the opening of Pitt Street Metro impact a number of sectors 29 on 20 June. Read more about Pitt Street Metro across society. served on average per week on page 17. 2 Founded in 1924, Woolworths Group is one of Australia's largest retailers with some of the most recognised and trusted Our impact brands – including Woolworths, Countdown, Dan Murphy's, BWS and BIG W. Woolworths Group is a proud Australian and New Zealand employer and a committed business partner to many thousands of farmers, producers and manufacturers. Our customers 3 Our store network 29M served on average per week 3,240 Voice of Customer score 1 Pick up locations 2 JUNE 81% 2018 +2,900 Australian Food 1,008 Rewards members Transactions New Zealand Food 181 Endeavour Drinks 1,545 10.9M 1.5BN BIG W 183 Hotels 323 Our financial highlights 3 Revenue EBIT Free Cash Flow M 3,973 $ before dividends 56,726 3,775 Australian Food 37,379 New Zealand Food 5,898 6 2,548 $1,420M 2,446 Endeavour Drinks 8,271 2,326 BIG W 3,566 18.7% from 2017 Hotels 1,612 2014 2015 2016 2017 2018 Dividend Return on funds per share 4 Tax paid 5 employed (ROFE) $2,548M 103¢ $661M 24.1% 9.5% from 2017 22.6% from 2017 1% from 2017 1.9 pts from 2017 1 Overall Satisfaction Store and Online - Australian Food. 4 Full Year fully franked dividend including special dividend. 2 Including Australian and New Zealand Food, Endeavour Drinks and BIG W. 5 From Group cash flow. 3 From continuing operations before significant items. 6 New Zealand Food (AUD). 2 3 ANNUAL REPORT 2018 REPORT ANNUAL GROUP WOOLWORTHS Founded in 1924, Woolworths Group is one of Australia's largest retailers with some of the most recognised and trusted Our impact brands – including Woolworths, Countdown, Our team Dan Murphy's, BWS and BIG W. Woolworths Group is a proud Australian and New Zealand employer and a committed business partner to many thousands of farmers, 201,522 producers and manufacturers. Our customers 3 team members Women in Young team members senior management <25 years old Our store network HIGHLIGHTS 1PERFORMANCE 32% 74,757 M Voice of Team Indigenous and refugee 29 engagement score program recruits served on average per week 54% 46% REVIEW 2 BUSINESS 3,240 Female Male 82% 1,875 Voice of across 528 stores since the Customer score 1 Pick up locations 2 beginning of the program ACT 2,828 JUNE NSW 59,848 81% 2018 +2,900 NT 1,925 QLD 40,200 Current graduate Total recordable injury REPORT 3 DIRECTORS' Australian Food 1,008 SA 11,888 program members frequency rate (TRIFR) Rewards members Transactions
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