Woolworths Group Ltd · ASX:WOW
Woolworths — Shareholder Meeting (November 2011)
44 slides from Woolworths's shareholder meeting presentation, Nov 24, 2011
Slide 1: AGM 2011
For personal use only AGM 2011 24 November 2011
Slide 2: James Strong, Chairman
For personal use only JAMES STRONG Chairman 1
Slide 3: Dividends Per Share - Up 6.1%
DIVIDENDS PER SHARE ‐ UP 6.1% For personal use only Cents Dividend pay‐out Ç6 1% Ç6.1% ratio of 70% is Ç10.6% in line with the previous year Ç13.0% Ç24.3% Final Dividend 2011: 65¢ Ç25.4% Interim Dividend 2011: 57¢ 07 08 09 10 11 FY0 FY0 FY0 FY1 FY1 2
Slide 4: Earnings Per Share - Up 6.5%
EARNINGS PER SHARE ‐ UP 6.5% For personal use only Cents 190.0 174 6 174.6 170.0 164.0 Ç6.5% 150.7 Ç8.8% 150.0 134.9 Ç11.7% 130.0 Ç24.0% 108.8 110 0 110.0 Ç19.7% 90.0 Y08 FYY11 FYY10 FYY07 FYY09 FY 70.0 3
Slide 5: James Strong, Chairman
For personal use only JAMES STRONG Chairman 4
Slide 6: Grant O'Brien, Chief Executive Officer
For personal use only GRANT O’BRIEN Chief Executive Officer 5
Slide 7: Highlights - Financial Year 2011
HIGHLIGHTS — FINANCIAL YEAR 2011 For personal use only • Positive overall result given challenging macro economic conditions and devastating natural disasters • Increase in NPAT of 5.1% or 6.4% excluding natural disaster costs • Increase in market share, sales and profits whilst investing significan
Slide 8: Profit After Tax - Up 5.1% (6.4% Excl Natural Disaster Costs)
PROFIT AFTER TAX — UP 5.1% (6.4% EXCL NATURAL DISASTER COSTS) For personal use only $ million 1 1 ↑12.8% FY07 7 FY08 8 8 FY08 FY09 9 9 FY09 FY10 0 FY11 1 Stat Stat 1. Reflects growth normalised to remove the impact of the 53rd week in FY08 7
Slide 9: EBIT - Up 6.3% (7.5% Excl Natural Disaster Costs)
EBIT — UP 6.3% (7.5% EXCL NATURAL DISASTER COSTS) For personal use only $ million TTotall EBIT growth Group EBIT underpinned Australian Ç7.5% by solid Ç12.9% F d and Food d Ç17.4% Liquor EBIT growth in Ç15.1% Ç19.8% Ç17.5% Australian Ç24 2% Ç24.2% Food and Liquor FY07 FY08 FY08 FY09 FY09 FY10 FY11 S
Slide 10: CODB / Sales
CODB / SALES For personal use only Percentage In a deflationary environment CODB was well controlled FY07 FY08 FY09 FY10 FY11 9
Slide 11: Gross Profit Margin
GROSS PROFIT MARGIN For personal use only Gross margins for the Percentage G Group h have increased 12bps reflecting the benefits of global Total buying, the use of GP Margin distribution centres in liquor liquor, improved shrinkage rates, GP Margin higher sales of ex Hotels exclusive brand products
Slide 12: Shareholder Payouts
SHAREHOLDER PAYOUTS Estimated franking credits available for distribution (after final dividend) = $1,228m For personal use only $ million Dividend Buy‐Back 2,191 Profit growth, coupled with 1,749 704 good 325 balance sheet management, 1,487 1,424 will have 1,280 941 delivered over 1,121 $10.3 billi
Slide 13: Corporate Responsibility Review
CORPORATE RESPONSIBILITY REVIEW For personal use only 12
Slide 14: Corporate Responsibility Review
CORPORATE RESPONSIBILITY REVIEW For personal use only CO2 REDUCTION 37 ENERGY SAVING GOOD PROGRESS IN ON TRACK INITIATIVES IN 2011 ETHICAL SOURCING 13
Slide 15: Corporate Responsibility Review
CORPORATE RESPONSIBILITY REVIEW For personal use only $62.3m COMMUNITY RECONCILIATION 30% REDUCTION INVESTMENT ACTION PLAN LAUNCH IN LTIFR 14
Slide 16: My Strategic Priorities
MY STRATEGIC PRIORITIES For personal use only 1 EXTEND AND DEFEND LEADERSHIP IN FOOD AND LIQUOR 2 ACT ON OUR PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE 3 MAINTAIN OUR TRACK RECORD OF BUILDING NEW GROWTH 4 PUT IN PLACE THE ENABLERS FOR A NEW ERA OF GROWTH BUSINESSES 15
Slide 17: Extend and Defend Leadership in Food and Liquor
UNLOCK SALES GROWTH ACCELERATE FRESH LEADERSHIP For personal use only EXTEND AND DEFEND EXTEND LIQUOR LEADERSHIP BECOME #1 LEADERSHIP IN FOOD AND LIQUOR IN NEW ZEALAND 16
Slide 18: Act on Portfolio to Maximise Shareholder Value
ALIGN OFFER TO NEW CUSTOMER REALITY For personal use only ACT ON PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE MOST RESPONSIBLE PUB OPERATOR REVIEW OF DICK SMITH 17
Slide 19: Maintain Track Record of Building New Businesses
SCALE‐UP HOME IMPROVEMENT LEADER IN MULTI‐CHANNEL MULTI CHANNEL RETAILING For personal use only MAINTAIN TRACK RECORD OF BUILDING NEW BUSINESSES CONSIDER INTERNATIONAL GROWTH 18
Slide 20: Put in Place Enablers for a New Era of Growth
NEXT STEP‐CHANGE IN SUPPLY CHAIN CONTINUED COST REDUCTION For personal use only LEVERAGING CUSTOMER DATA PUT IN PLACE ENABLERS FOR A NEW ERA OF GROWTH STRONG CAPITAL INVESTMENT BEST RETAIL TALENT 19
Slide 21: My Strategic Priorities
MY STRATEGIC PRIORITIES For personal use only 1 EXTEND AND DEFEND LEADERSHIP IN FOOD AND LIQUOR 2 ACT ON OUR PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE 3 MAINTAIN OUR TRACK RECORD OF BUILDING NEW GROWTH 4 PUT IN PLACE THE ENABLERS FOR A NEW ERA OF GROWTH BUSINESSES 20
Slide 22: James Strong, Chairman
For personal use only JAMES STRONG Chairman 21
Slide 23: How to Vote
HOW TO VOTE For personal use only The smartcard should have been inserted into your handset when you registered for the AGM If the smartcard is not inserted into your handset please l d do so now Make sure the arrows at the bottom of the smartcard are inserted and facing you 22
Slide 24: How to Vote
HOW TO VOTE For personal use only Insert the smartcard up to the red line. A welcome message will appear when the card is inserted correctly 23
Slide 25: How to Vote
HOW TO VOTE For personal use only When the poll opens, opens the handset will display the voting options being 1 to vote FOR the resolution 2 to vote AGAINST the resolution 3 to ABSTAIN or WITHHOLD your vote Press the appropriate button on the handset to register your intentions 24
Slide 26: How to Vote
HOW TO VOTE For personal use only Your voting instruction will appear on the handset “Received” Received will appear on your handset to indicate your vote has counted If you wish i h to t change h your mind, i d simply i l enter your new choice 25
Slide 27: How to Vote
HOW TO VOTE For personal use only If you accidentally dislodge the smartcard a warning will appear on your screen and you may need to push the smartcard back into the handset 26
Slide 28: How to Vote
HOW TO VOTE For personal use only When the poll opens, opens the handset will display the voting options being 1 to vote FOR the resolution 2 to vote AGAINST the resolution 3 to ABSTAIN or WITHHOLD your vote This will vote your open votes only, directed votes will go through automatically when you s
Slide 29: How to Vote
HOW TO VOTE For personal use only Please leave the handset and smartcard on your seat or hand them to a member of staff as you leave the room The handset has a built in alarm that will sound if you inadvertently leave the building without ith t returning t i th the h handset d t and d smartcard t d
Slide 30: How to Vote
HOW TO VOTE For personal use only If you have any questions or issues in using the handset please raise your hand and one of the attendants in the auditorium will be able to assist you Thank you for your attention 29
Slide 31: Shareholder Questions
For personal use only SHAREHOLDER QUESTIONS 30
Slide 32: Financial Statements
For personal use only 1 FINANCIAL STATEMENTS 1. 31
Slide 33: Remuneration Report
For personal use only 2 REMUNERATION REPORT 2. 32
Slide 34: Resolution - Remuneration Report
RESOLUTION 2 – REMUNERATION REPORT For personal use only For 398,303,362 79.86% Against 81,565,597 16.35% O Open 18,897,891 3.79% 33
Slide 35: Election of Directors
For personal use only 3 ELECTION OF DIRECTORS 3. 34
Slide 36: Roderick Deane
For personal use only 35 RODERICK DEANE
Slide 37: Resolution 3(a) - Election of Directors: Roderick Deane
RESOLUTION 3(A) – ELECTION OF DIRECTORS RODERICK DEANE For personal use only For 487,746,217 94.47% Against 8,711,542 1.69% O Open 19,814,324 3.84% 36
Slide 38: Jillian Broadbent
For personal use only 37 JILLIAN BROADBENT
Slide 39: Resolution 3(b) - Election of Directors: Jillian Broadbent
RESOLUTION 3(B) – ELECTION OF DIRECTORS JILLIAN BROADBENT For personal use only For 493,808,506 95.66% Against 2,607,092 0.51% O Open 19,807,428 3.84% 38
Slide 40: Ralph Waters
For personal use only 39 RALPH WATERS
Slide 41: Resolution 3(c) - Election of Directors: Ralph Waters
RESOLUTION 3(C) – ELECTION OF DIRECTORS RALPH WATERS For personal use only For 492,770,129 95.48% Against 3,405,300 0.66% O Open 19,914,605 3.86% 40
Slide 42: Long Term Incentive Plan
For personal use only 4 LONG TERM INCENTIVE PLAN 4. 41
Slide 43: Resolution - Long Term Incentive Plan
RESOLUTION 4 – LONG TERM INCENTIVE PLAN For personal use only For 448,627,705 87.11% Against 47,602,830 9.24% O Open 18,773,517 3.65% 42
Slide 44: AGM 2011
For personal use only AGM 2011 24 November 2011