Wesfarmers Limited · ASX:WES
Wesfarmers — Debt Investor Presentation (2025)
22 slides from Wesfarmers's debt investor presentation, 2025
Slide 1: 2025 Full-Year Results Debt Investor Update
2025 FULL-YEAR RESULTS Debt Investor Update
Slide 2: Group Performance Overview
QUESTIONS GROUP PERFORMANCE OVERVIEW
Slide 3: Wesfarmers Way
Wesfarmers Way Wesfarmers’ primary objective Anticipating the needs of our Looking after our team is to deliver a satisfactory return customers and delivering members and providing a safe, to shareholders. We believe it is competitive goods and services fulfilling work environment only possible to a
Slide 4: 2025 Full-year highlights
2025 Full-year highlights Maintained focus on driving long-term shareholder returns Revenue Operating cash flows up 3.4% to down 0.6% to Result highlights the Strengthened existing $45.7b $4.6b quality of the Group’s businesses and teams businesses and advanced key growth initiatives • Largest divis
Slide 5: Divisional highlights
Divisional highlights Bunnings Kmart Group WesCEF Officeworks Sales Earnings1 Sales Earnings Revenue Earnings Sales Earnings $19.6b $2,338m $11.3b $1,046m $3.0b $399m $3.5b $212m ↑ 3.3% ↑ 4.0% ↑ 3.4% ↑ 9.2% ↑ 7.8% ↓ 9.3% ↑ 3.8% ↑ 1.9% • Lowest-price positioning supported • Strong value credentials r
Slide 6: Portfolio actions demonstrate focus on shareholder returns
Portfolio actions demonstrate focus on shareholder returns Sale of Coregas Catch wind down and transition Sale for $770m completed July 20251 Eliminated the losses associated with Catch Transferred FCs2 to strengthen Kmart Group’s online operations Sale of LPG and LNG distribution businesses Bolt-on
Slide 7: Focus on long-term value, consistent with our objective
CLIMATE AND ENVIRONMENT Focus on FY25 long-term value, 9.3% 19.6% 71.4% consistent with reduction in Scope 1 and Scope 2 (market-based) increase in rooftop solar capacity, with an of operational waste diverted from landfill our objective emissions additional 53 systems installed during the year PEOP
Slide 8: Working capital and cash flow
Working capital and cash flow NET WORKING CAPITAL CASH MOVEMENT • Divisional operating cash flows increased 2.3%, with divisional cash realisation Year end 30 June ($m)2 2025 2024 of 100%1 Receivables and prepayments (96) (153) – Reflects disciplined net working capital management at Kmart Group and
Slide 9: Capital expenditure
Capital expenditure CAPITAL EXPENDITURE • Gross capital expenditure of $1,147m, up 6.6% Year end 30 June1 ($m) 2025 2024 Var % – Higher capex largely due to higher spending on new store and expansion Bunnings 416 268 55.2 projects in Bunnings Kmart Group 136 136 - – WesCEF capex includes development
Slide 10: Investments support national prosperity and resilience
Investments support national prosperity and resilience Investment focus areas Investments over 5 years Supporting national prosperity and resilience Low prices Significant investment in For millions of Australians via EDLP at Bunnings, Kmart, Officeworks low prices Salaries, wages and careers Drivin
Slide 11: Group outlook
Group outlook • Wesfarmers remains well • The Group’s retail divisions are • The performance of the Group’s • Domestic cost pressures are likely positioned to deliver well positioned to profitably grow industrial businesses remains to persist, driven by labour, energy satisfactory returns to their s
Slide 12: Balance Sheet and Debt Management
QUESTIONS BALANCE SHEET AND DEBT MANAGEMENT
Slide 13: Strong and resilient balance sheet
Strong and resilient balance sheet Key principles NET FINANCIAL DEBT ($B) 1 • Maintaining a prudent capital structure and strong credit rating is important to 6 Wesfarmers 5 • Strong credit ratings 4 – Moody’s A3 (stable outlook) 3 – S&P A- (stable outlook) 2 1 Full-year update 0 -1 • Maintained sig
Slide 14: Pro-active debt management
Pro-active debt management • Continued focus on optimising debt maturity profile, diversity of debt profile and DEBT MATURITY PROFILE1 cost of funds through: $m – Extension of bilateral bank facilities to extend and spread out debt maturity 2,000 profile 1,500 1,000 – Reduction of total available ba
Slide 15: Debt capital markets diversity
Debt capital markets diversity DCM GEOGRAPHICAL SOURCES1 DEBT BY TYPE1 35% 43% 57% 65% Capital Markets Sustainability-linked Financing Drawn Bank Facilities Other funding sources • Ongoing commitment to diversify funding sources, including the domestic and international debt capital markets • Austra
Slide 16: Sustainable finance update
Sustainable finance update March 2020 June 2021 October 2021 A$400m sustainability-linked loan A$1b sustainability-linked bond €600m sustainability-linked bond • Achieving proportional representation for Aboriginal • Increasing the use of renewable electricity in the Group’s retail divisions (Bunnin
Slide 17: Management of lease portfolio
Management of lease portfolio • Lease liabilities totalled $6.4b and represented 58% of Group fixed financial Lease liabilities ($m) FY25 FY24 obligations as at 30 June 2025 Bunnings Group 3,350 3,402 • Average remaining committed lease term of 3.9 years1 (FY24: 4.0 years) Kmart Group 2,242 2,237 –
Slide 18: Shareholder distributions
Shareholder distributions Key principles SHAREHOLDER DISTRIBUTIONS2 • Dividend distributions determined based on franking credit availability, current earnings, cash flows, future cash flow requirements and targeted credit metrics • Focus is on maximising value of franking credits for shareholders.
Slide 19: Additional resources
Additional resources • Wesfarmers debt investor website https://www.wesfarmers.com.au/investor-centre/debt-investors • Wesfarmers sustainable finance website https://www.wesfarmers.com.au/investor-centre/debt-investors/sustainable-finance • Please email to the below address if you would like to be a
Slide 20: Glossary of terms (1 of 2)
Glossary of terms (1 of 2) Term AASB Australian Accounting Standards Board API Australian Pharmaceutical Industries Ltd b Billion B2B Business-to-business Cash realisation ratio Operating cash flows as a percentage of net profit after tax, before depreciation and amortisation CO2e Carbon dioxide equ
Slide 21: Glossary of terms (2 of 2)
Glossary of terms (2 of 2) Term LNG Liquefied natural gas LPG Liquefied petroleum gas m Million mw megawatt n.m. Not meaningful Interest-bearing loans and borrowings less cash at bank and on deposit and held in joint operation, net of cross-currency interest rate swaps and Net financial debt interes
Slide 22: Wesfarmers
NY] Wesfarmers