Slide 1: 2010 Full-Year Results Supplementary Information
For personal use only 2010 Full-Year Results Supplementary Information (To be read in conjunction with the Full-Year Results Teleconference presentation) 19 August 2010
Slide 2: Table of contents
2 Table of contents For personal use only Item Page 1 Coles 3 2 Home Improvement & Office Supplies 7 3 Target 12 4 Kmart 16 6 5 Resources 20 6 Insurance 29 7 Chemicals, Energy & Fertilisers 36 8 Industrial & Safety 42
Slide 3: Coles
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Slide 4: Coles network
Coles network Coles 4 As at 30 June 2010 For personal use only Selling Area 7 8 11 Supermarkets (sqm) 1586,494 Liquor (sqm) – ex 181,011 hotels 148 218 79 81 95 6 112 67 55 30 6 43 245 251 5 208 163 192 164 742 Supermarkets 14 15 766 Liquor stores 96 Hotels 619 Convenience
Slide 5: Coles store network movements
Coles 5 Store network movements Open at Open at For personal use only 30 June 2009 Opened Closed 30 June 2010 Supermarkets Coles 705 10 241 691 Bi-Lo 58 - 7 51 Total Supermarkets 763 10 31 742 Liquor 1st Choice 64 11 2 73 Vintage Cellars 80 0 2 78 Liquorland 631 15 312 615 Hotels 95 2 1 96 Total Liq
Slide 6: Coles revenue reconciliation
Coles 6 Revenue reconciliation For personal use only Year ended 30 June 2010 2009 ($m) Food & Convenience Total Food & Convenience Total Liquor Liquor Segment revenue1 (Gregorian) 23,731 6,247 29,978 22,506 6,273 28,779 Less: Other revenue 118 16 134 119 15 134 Headline sales (Gregorian) 23,613 6,23
Slide 7: Home Improvement & Office Supplies
For personal use only Home Improvement & Office Supplies
Slide 8: Bunnings network
Bunnings network Home Improvement and Office Supplies 8 As at 30 June 2010 For personal use only 184 Warehouse stores 58 Smaller format stores 2 29 Trade Centres 30 5 8 23 7 3 9 3 2 56 16 6 13 26 1 45 8 4 2 1 1
Slide 9: Officeworks & Harris Technology network
Officeworks & Harris Tech. network Home Improvement and Office Supplies 9 As at 30 June 2010 Retail Stores For personal use only 128 Officeworks 5 Harris Technology 25 1 1 Business 11 1 1 4 Fulfilment Centres 8 3 Service Centres 43 2 1 1 Print Hub 2 1 39 1 1 1 2
Slide 10: Store network movements
Store network movements Home Improvement and Office Supplies 10 As at 30 June 2010 For personal use only Under Open at Open at construction at 30 June 2009 Opened Closed 30 June 2010 June 2010 Home Improvement Bunnings Warehouse 175 11 2 184 10 Bunnings smaller formats 56 2 - 58 1 Bunnings Trade Cen
Slide 11: Home Improvement comparative sales methodology
Home Improvement Home Improvement and Office Supplies 11 Comparative sales methodology For personal use only • Current store on store growth („SOSG‟) methodology – 2009 = 10.1% – 2010 = 7.3% – Based on long-term proxy (cash = retail, credit = trade) – Proxy overlooks trade sales purchased with cash
Slide 12: Target
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Slide 13: Target network
Target network Target 13 As at 30 June 2010 For personal use only 3 58 31 26 98 69 290 Target stores (incl 119 Target Country) 5
Slide 14: Target store network movements
Target 14 Store network movements For personal use only Open at Open at Under 30 June 2009 Opened Closed 30 June 2010 construction Target 170 3 2 171 - Target Country 116 4 1 119 2 • The two Target closures; Box Hill & Reservoir, were part of a store networking strategy to open larger stores in more
Slide 15: Target revenue reconciliation
Target 15 Revenue reconciliation For personal use only Year ended 30 June ($m) 2010 2009 Segment revenue (Gregorian) 3,825 3,788 Less: Non sales revenue Headline sales (Gregorian) 3,825 3,788 Less: Gregorian adjustment 9 6 Headline sales revenue (Retail1) 3,816 3,782 1 Retail period relates to the 5
Slide 16: Kmart
For personal use only Kmart Kmart Guy Russo
Slide 17: Kmart network
Kmart network Kmart 17 As at 30 June 2010 For personal use only 186 Kmart stores 251 KTAS centres 2 3 36 52 21 28 13 19 51 70 12 43 73 5 6 3
Slide 18: Kmart store network movements
Kmart 18 Store network movements For personal use only Under Open at Open at construction 30 June 2009 Opened Closed 30 June 2010 at June 2010 Kmart 184 2 - 186 1 Kmart Tyre & Auto 255 - 4 251 -
Slide 19: Kmart revenue reconciliation
Kmart 19 Revenue reconciliation For personal use only Year ended 30 June ($m) 2010 2009 Segment revenue (Gregorian) 4,019 3,998 Less: Non sales revenue 2 - Headline sales (Gregorian) 4,017 3,998 Less: Gregorian adjustment 13 8 Headline sales revenue (Retail1) 4,004 3,990 1 Retail period relates to t
Slide 20: Resources
For personal use only Resources
Slide 21: Resources environment
Resources 21 Resources environment For personal use only • Stable environment for most world major economies – Particularly North & South Asia • Customers – Global steel production has recovered to pre-Global Financial Crisis levels – Industry move to quarterly pricing for metallurgical coal • Suppl
Slide 22: Australian coal market prices
Resources 22 Australian coal market prices For personal use only Australian steaming coal prices Australian hard coking coal prices US$/Tonne (Nominal) FOB Australia (annual verse spot) US$/Tonne (Nominal) FOB Australia (annual verse spot) 200 400 150 300 100 200 50 100 0 0 2003 2004 2005 2006 2007
Slide 23: Curragh export metallurgical sales
Resources 23 Curragh export metallurgical sales For personal use only Hard Hard 47% Semi Hard 47 % Semi 21% Hard 21 % PCI PCI 32% 32 % 2009/10 Actual 2010/11 Forecast 6.6 million tonnes 6.5 – 7.0 million tonnes
Slide 24: Coal production volumes
Resources 24 Coal – production volumes For personal use only Year Ended Beneficial ('000 tonnes) Mine Coal Type Interest Jun 2010 Jun 2009 Curragh, QLD 100% Metallurgical 6,613 6,711 Steaming 2,470 2,925 Premier, WA 100% Steaming 2,781 3,366 Bengalla, NSW1 40% Steaming 2,243 2,105 Total1 14,107 15,1
Slide 25: Coal sales volumes
Resources 25 Coal – sales volumes For personal use only Year Ended Beneficial ('000 tonnes) Mine Coal Type Interest Jun 2010 Jun 2009 Curragh, QLD1 100% Metallurgical 6,633 6,454 Steaming 2,463 3,325 Premier, WA 100% Steaming 2,593 3,432 Bengalla, NSW2 40% Steaming 2,111 2,065 Total2 13,800 15,276 1
Slide 26: Curragh focus on cost control
Resources 26 Curragh focus on cost control For personal use only • Curragh reconfirmed in lowest quartile of Australian hard coking coal industry cost curve • Cost reduction program in place • Mine cash costs ($/t) 9% reduction FY10 vs FY09 • Ongoing strategies targeted include: – mining & processin
Slide 27: Current hedging profile
Resources 27 Current hedging profile For personal use only Curragh Bengalla Current US$ Average Current US$ Average Year end Year end sold forward A$ / US$ sold forward A$ / US$ 30 Jun 30 Jun (US$m) hedge rate (US$m) hedge rate 2011 716 0.83 2011 118 0.82 2012 522 0.83 2012 70 0.80 2013 383 0.80 201
Slide 28: Minerals Resource Rent Tax (MRRT)
Resources 28 Minerals Resource Rent Tax (MRRT) For personal use only • 2 July 2010 Federal Government announcement – Proposal supersedes former Resources Super Profits Tax • MRRT proposed to apply from 1 July 2012, subject to Federal Government re-election & passage of legislation through Senate • P
Slide 29: Insurance
For personal use only Insurance
Slide 30: Insurance business overview
Insurance 30 Insurance business overview Australia New Zealand United Kingdom For personal use only Broking Underwriting Group Services
Slide 31: Geographical presence
Geographical presence Insurance 31 As at 30 June 2010 For personal use only 3 1 UK 4 3 14 5 19 1 2 1 1 4 13 6 22 11 6 19 6 Lumley Insurance (Australia) 12 1 Lumley General New Zealand 10 6 WFI 90 3 4 1 OAMPS 1 30 2 Crombie Lockwood 17 1 OAMPS New Caledonia location not shown
Slide 32: Underwriting performance summary
Insurance 32 Underwriting performance summary Year ended 30 June ($m) 2010 20092 % For personal use only Gross Written Premium 1,347 1,358 (0.8) Net Earned Premium 1,035 1,013 2.2 Net Claims (666) (738) (9.8) Net Commission and Expenses (348) (300) 16.0 Underwriting Result 22 (25) 188.0 Insurance Ma
Slide 33: Broking performance summary
Insurance 33 Broking performance summary For personal use only Year ended 30 June ($m) 2010 20091 % Commission and Fee Income 184 184 - Other Income 29 34 (14.7) Total Income 213 218 (2.3) Expenses (154) (155) (0.6) EBITA 59 63 (6.3) EBIT 50 53 (5.7) EBITA Margin (%) 27.8 29.1 1 Restated as a result
Slide 34: Underwriting KPIs
Insurance 34 Underwriting KPIs For personal use only Year ended 30 June (%) 2010 20091 % pt Gross Earned Loss Ratio 69.5 79.4 (9.9) Net Earned Loss Ratio 64.3 72.9 (8.6) Reinsurance Expenses (% GEP) 22.3 23.0 (0.7) Exchange Commission (% RI excl XOL) 24.3 24.7 (0.4) Commission Expense (% GWP) 13.5 1
Slide 35: Gross written premium (underwriting)
Insurance 35 Gross written premium (underwriting) Lia bilit y For personal use only 19 % Total $1,347m M a rine 5% P e rs o na l E ngine e ring 20% 5% O t he r 2% C ro p 2% C o m m e rc ia l C o m m e rc ia l M o to r 22% 25%
Slide 36: Chemicals, Energy & Fertilisers
For personal use only Chemicals, Energy & Fertilisers
Slide 37: Fertiliser sales
Chemicals, Energy 37 and Fertilisers Fertiliser sales For personal use only Return to traditional levels of nutrient application
Slide 38: Global fertiliser pricing
Chemicals, Energy 38 and Fertilisers Global fertiliser pricing USD/t For personal use only 1300 1200 1100 1000 900 800 700 600 500 400 300 200 100 0 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Urea (FOB Middle East) DAP (FOB US Gulf) Some
Slide 39: Global ammonia & PVC pricing
Chemicals, Energy 39 and Fertilisers Global ammonia & PVC pricing USD/t For personal use only 1400 1300 1200 1100 1000 900 800 700 600 500 400 300 200 100 0 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Ammonia (FOB Middle East) PVC (Harrima
Slide 40: World LPG prices
Chemicals, Energy 40 World LPG prices – Saudi CP and Fertilisers Average CP Jul Average CP Jul 09 – Jun 10 For personal use only 08 - Jun 09 USD/tonne USD 559 USD 653 Propane 1,000 900 800 700 600 500 400 300 200 100 0 Jun-00 Jun-01 Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 LPG
Slide 41: WLPG production
Chemicals, Energy 41 and Fertilisers WLPG production kt Ave t/TJ For personal use only 200 1.0 0.9 150 0.8 100 0.7 50 0.6 0 0.5 2008 2009 2010 WLPG production (kt) LPG content (t/TJ) Production improved post Varanus gas disruption
Slide 42: Industrial & Safety
For personal use only Industrial & Safety
Slide 43: Industrial and Safety business portfolio
Industrial and Safety 43 Business portfolio For personal use only Australia New Zealand “All your Safety Industrial Industrial, workplace Specialist Specialists Medical & needs” Specialty gases
Slide 44: Distribution network
Industrial and Safety 44 Distribution network 243 industrial & safety locations & 128 gas distribution points For personal use only Australia No. 2 4 16 12 73 “All your workplace needs” industrial (1) 1 7 9 18 9 1 45 Safety 3 1 6 4 36 23 Materials handling, lifting & rigging 1 5 4 4 18 Fasteners 2 1
Slide 45: For personal use only
For personal use only For all the latest news visit www.wesfarmers.com.au