Woolworths Holdings Limited · JSE:WHL
Woolworths — FY2025 Earnings Presentation
59 slides from Woolworths's earnings presentation, Aug 27, 2025
Slide 1: Full Year Results Presentation
27 August 2025 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Full Year Results Presentation Attached for release to the market is the Full Year Results Presentation for the period ended 29 June 2025. Authorised by: Dom Millgate, Group Company Secr
Slide 2: Woolworths Group 2025 Full Year Results
27 August 2025 Woolworths Group 2025 Full Year Results For the 52 weeks ended 29 June 2025 Amanda Bardwell, Managing Director and CEO Stephen Harrison, CFO
Slide 3: Contents
2 Woolworths Group Full Year Results 2025 Contents 4 F25 Group summary We create better Amanda Bardwell experiences 19 Group financial results and capital management together for a better tomorrow Stephen Harrison 30 Strategy update, current trading and outlook Amanda Bardwell
Slide 4: Acknowledgment of Country
3 Woolworths Group Full Year Results 2025 Acknowledgment of Country Woolworths Group acknowledges the many Traditional Owners of the lands on which we operate and pay our respects to their Elders past and present. We recognise their strengths and enduring connection to lands, waters and skies as the
Slide 5: F25 Group summary
4 Woolworths Group Full Year Results 2025 F25 Group summary Clear priorities to improve performance in F26 Group sales Group eCom sales Group VOC NPS Group EBIT2 Group NPAT3 Final dividend $69.1b $9.1b 45 $2,754m $1,385m 45c ↑ 17.1%1 vs. F24 ↓ 1 pt vs. F244 ↑ 3.6%1 vs. F24 ↓ 12.6%1 vs. F24 ↓ 17.1%1
Slide 6: Value, digital and convenience still shaping customer behaviour
5 Woolworths Group Full Year Results 2025 Value, digital and convenience still shaping customer behaviour Value Digital Convenience Search for value ~3 pts Use of digital tools 14.8% Growth in eCom >40% driving behaviours Increase in to make shopping Growth in total convenience (and of delivery orde
Slide 7: Progress on 2025 focus areas
6 Woolworths Group Full Year Results 2025 Progress on 2025 focus areas Get it right for customers Launched Lower Availability 68 renewals Shelf Price on improvement completed and 500+ popular recognised by Direct to Boot Now everyday items customers in 513 stores Simplify the way we work New consoli
Slide 8: Investment into value driving improved price perception
7 Get it right for customers Woolworths Group Full Year Results 2025 Investment into value driving improved price perception Value for Money VOC NPS – Australian Food Lower prices 65 Positive VFM trends 500+ everyday continuing in July items on Lower Shelf Price 60 55 Rewards Largest ever 50 ACCC in
Slide 9: Connected members accessing more value, spending more and delivering greater advocacy
8 Get it right for customers Woolworths Group Full Year Results 2025 Connected members accessing more value, spending more and delivering greater advocacy Delivering more value to members Boost your Budget Bank for Christmas Added new partners campaigns ~750,000 members and renewed delivered $8m in
Slide 10: Investment in network delivering improved customer experiences
9 Woolworths Group Full Year Results 2025 Get it right for customers Investment in network delivering improved customer experiences 1,301 New Supermarkets and Metros2 Supporting: 12 opened in F25 Total store network1 Sales benefits from Renewals1 completed across as at the end of F25 82 Supermarkets
Slide 11: Supporting customer demand for convenience
10 Get it right for customers Woolworths Group Full Year Results 2025 Supporting customer demand for convenience Woolworths Food On Demand eCommerce sales ($m) Auburn automated CFC >40% of delivery orders fulfilled within 2 hours +6 pts vs. Q4 F24 3x increase in Sub6O eCommerce sales vs. F24 Q1 F24
Slide 12: Leadership changes to align to strategy and enhance focus
11 Simplify the way we work Woolworths Group Full Year Results 2025 Leadership changes to align to strategy and enhance focus Group leadership and organisational changes Setting up our Food Retail Creating focus and driving Innovating for the businesses for success growth future • Woolworths Retail
Slide 13: Ongoing focus on productivity and restoring a discipline of making every dollar count
12 Simplify the way we work Woolworths Group Full Year Results 2025 Ongoing focus on productivity and restoring a discipline of making every dollar count Productivity benefits delivered in F25 Advanced analytics and AI helping to deliver productivity gains 1.9x1 Ongoing store and eCom Picking Digita
Slide 14: Outcomes of portfolio assessment
13 Unlock the full potential of the Group Woolworths Group Full Year Results 2025 Outcomes of portfolio assessment Actioned Confident in value More to do creation potential MyDeal website closure New Zealand Food Disappointing BIG W effective 30 September transformation momentum F25 result Improve
Slide 15: Strong progress in New Zealand in F25
14 Unlock the full potential of the Group Woolworths Group Full Year Results 2025 Strong progress in New Zealand in F25 Brand and value reset 500 new own brand products launched in F251 VOC NPS +8pts VOC NPS (Store and Online) +4 points vs. Q3 and +8 points vs. F24 driven by improvements in value, a
Slide 16: Improved BIG W customer momentum but profit result disappointing
15 Unlock the full potential of the Group Woolworths Group Full Year Results 2025 Improved BIG W customer momentum but profit result disappointing Improving customer momentum • EBIT result disappointing due to modest F25 sales growth and gross margin pressure due to mix and clearance BIG W total sal
Slide 17: Complementary businesses and services growing strongly
16 Unlock the full potential of the Group Woolworths Group Full Year Results 2025 Complementary businesses and services growing strongly • Cartology revenue increased • Strong sales growth in PC+ • Everyday Rewards & Services by a normalised 19.5% with • Launched direct rail operation platform sales
Slide 18: Progress on sustainability initiatives in F25
17 Woolworths Group Full Year Results 2025 Progress on sustainability initiatives in F25 12.92 $145m $31m 33 People Total Recordable Injury Direct community spent on First Nations Mini Woolies opened Frequency Rate contributions Supply Nation-registered in F25 and certified suppliers ↓ 6.2% on F24 $
Slide 19: Contents
18 Woolworths Group Full Year Results 2025 Contents We create better 4 F25 Group summary Amanda Bardwell 19 Group financial results and capital management experiences Stephen Harrison together for a better tomorrow 30 Strategy update, current trading and outlook Amanda Bardwell
Slide 20: Group financial results and capital management
19 Woolworths Group Full Year Results 2025 Group financial results and capital management
Slide 21: F25 financial summary
20 Woolworths Group Full Year Results 2025 F25 financial summary Group sales Group EBIT1 $69.1b $2,754m 3.6%2 vs. F24 12.6%2 vs. F24 Ex Petstock, Group sales increased by a Decline in Group EBIT driven by Australian Food normalised 2.9%2 and BIG W Ex industrial action impact, incremental supply
Slide 22: Group trading performance
21 Woolworths Group Full Year Results 2025 Group trading performance Sales summary EBIT summary F25 H2 F25 F25 H2 F25 Before significant items F25 F24 CHANGE H2 F25 H2 F24 CHANGE F25 F24 CHANGE H2 F25 H2 F24 CHANGE $ MILLION (52 WEEKS) (53 WEEKS) NORMALISED (25 WEEKS) (26 WEEKS) NORMALISED $ MILLION
Slide 23: Working capital and ROFE
22 Woolworths Group Full Year Results 2025 Working capital and ROFE Average inventory and payables days1 • Average inventory days reflect higher inventory holdings Inventory Payables during the year in Australian Food to improve availability and manage industrial action contingency requirements, and
Slide 24: Solid investment grade credit rating
23 Woolworths Group Full Year Results 2025 Woolworths Group capital management framework Strong growth Leading market opportunities in Defensive Iconic Australian and Strong underlying positions in Food complementary characteristics New Zealand brands cash flow and Everyday Needs businesses and thro
Slide 25: Solid operating cash flow and cash realisation
24 Woolworths Group Full Year Results 2025 Solid operating cash flow and cash realisation F25 F24 $ MILLION (52 WEEKS) (53 WEEKS) CHANGE Strong working capital inflow reflecting an increase in trade Group EBITDA before significant items 5,707 6,001 (4.9)% payables due to timing payment benefit in Ne
Slide 26: Operating capex largely unchanged on prior year
25 Woolworths Group Full Year Results 2025 Operating capex largely unchanged on prior year $ MILLION F25 F24 Sustaining capex ($m) F24 F25 Sustaining capex 1,549 1,551 Growth capex 475 460 344 SIB 385 Operating capex 2,024 2,011 435 Property development 451 543 Renewals 31.1 570 Gross capex 2,475 2,
Slide 27: Good progress on supply chain transformation
26 Woolworths Group Full Year Results 2025 Good progress on supply chain transformation Expanding automation capability in our CFCs Moorebank National & Regional DC Sydney Chilled & Fresh DC (SCFDC) • Moorebank NDC ramp up on track • 84,000 sqm multi-level DC to complete NSW • New automated CFC in M
Slide 28: Double-digit returns expected from major DC investments
27 Woolworths Group Full Year Results 2025 Double-digit returns expected from major DC investments Major projects in ramp up or nearing completion Moorebank NDC Auburn eCommerce Moorebank RDC opened in Nov automated CFC remains on track to 2024 opened in May 2025 open in H1 F26 Major projects in fli
Slide 29: Dividends and funding
28 Woolworths Group Full Year Results 2025 Dividends and funding 45 cps final dividend Dividends (cents per share) Interim Final Special • Fully franked final ordinary dividend of 45 cps 144 • Full year dividend of 84 cps, broadly consistent with NPAT reduction 104 40 84 • Full year payout ratio of
Slide 30: Contents
29 Woolworths Group Full Year Results 2025 Contents 4 F25 Group summary Amanda Bardwell We create better 19 Group financial results and experiences capital management Stephen Harrison together for a 30 Strategy update, current trading and outlook better tomorrow Amanda Bardwell
Slide 31: Strategy update, current trading and outlook
30 Woolworths Group Full Year Results 2025 Strategy update, current trading and outlook
Slide 32: We create better experiences together for a better tomorrow
We create better experiences together for a better tomorrow
Slide 33: We are an Everyday Retail Group, anchored in the strength of Food
32 Woolworths Group Full Year Results 2025 We are an Everyday Retail Group, anchored in the strength of Food Australian Our cornerstone business, bringing fresher ways to help our Food customers live better every day New Zealand Food BIG W & Petstock PFD Expanding the reach of Meeting more of custom
Slide 34: Unique strengths with significant potential
33 Woolworths Group Full Year Results 2025 Unique strengths with significant potential Iconic Over 100 Australian years Large, 25.7m 12m+ and serving customers Leading connected Everyday New Australians, served on loyalty Rewards anchored by customer average per Zealand program members The Fresh bas
Slide 35: How we will realise our potential over the medium term
34 Woolworths Group Full Year Results 2025 How we will realise our potential over the medium term Purpose: We create better experiences together for a better tomorrow Medium-term strategic priorities Financial aspiration Become first Improve Grow Priority Priority Priority Sales growth from 1 3 choi
Slide 36: We are focused on three key medium-term strategic priorities
35 Woolworths Group Full Year Results 2025 We are focused on three key medium-term strategic priorities Maturity level1 Become first • Deliver on Fresh Food People promise through best quality, varieties and passion for Fresh Priority 1 choice for the • Provide Australia’s best range with simpler of
Slide 37: Key enablers to deliver our priorities
36 Woolworths Group Full Year Results 2025 Key enablers to deliver our priorities Deliver customer Embed simpler Make every and retail excellence ways of working dollar count Reestablish price trust with reliable prices Embed simplified operating model to reduce Reset Group ‘always on’ cost discipli
Slide 38: Meaningful shifts to get customers to put us first in Food
33 37 Woolworths Group Full Year Results 2025 Priority Become first Meaningful shifts to get customers 1 choice for the to put us first in Food Freshest Australian Food Best of Products you Easiest ways Consistent & Execution Australian Fresh love and need to shop meaningful value excellence Improve
Slide 39: Significant opportunity to improve New Zealand Food and BIG W performance
34 38 Woolworths Group Full Year Results 2025 Priority Improve returns Significant opportunity to improve 2 in NZ Food and BIG W New Zealand Food and BIG W performance Maintain momentum in Turnaround BIG W New Zealand Food transformation Differentiate range with focus on Fresh and Maintain competiti
Slide 40: Deliver value from PFD and Petstock
39 Woolworths Group Full Year Results 2025 Grow Deliver value from PFD and Petstock Priority 3 complementary businesses and services Capitalising on the Group’s expertise and capabilities to unlock value Supply chain Extensive footprint Digitally-enhanced Deep market Strong retail product Cost netwo
Slide 41: Accelerate service businesses growth
37 40 Woolworths Group Full Year Results 2025 Grow Accelerate service businesses growth Priority 3 complementary businesses and services Today • Delivering meaningful and personalised • Delivering reach and efficiency • Providing high quality media member value to attract new members through scale i
Slide 42: Long-term sustainable growth, strong cash generation and disciplined capital management
41 Woolworths Group Full Year Results 2025 Long-term sustainable growth, strong cash generation and disciplined capital management to deliver double-digit TSR Woolworths Group shareholder value creation framework Growth Sales growth from Woolworths Retail Incremental growth from Mid to high Woolwort
Slide 43: Current trading and outlook
42 Woolworths Group Full Year Results 2025 Current trading and outlook First 8 weeks of F26 • Australian Food (Woolworths Food Retail) total sales growth of 2.1% compared to the prior year • Excluding Tobacco, total sales increased by 4.0% • New Zealand Food total sales growth of 2.6%1 with some imp
Slide 44: Tobacco decline accelerating with material EBIT impact likely in F26
43 Woolworths Group Full Year Results 2025 Tobacco decline accelerating with material EBIT impact likely in F26 Average weekly Tobacco sales ($m) – Woolworths Food Retail Tobacco sales trends 80 • New Public Health Act changes from 1 July 2025 impacting range, pack The Public Health size and the ban
Slide 45: Q&A
Q&A Woolworths Group Full Year Results 2025 44
Slide 46: Appendix
Appendix Woolworths Group Full Year Results 2025 45
Slide 47: Australian Food
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Slide 48: Australian Food
47 Woolworths Group Full Year Results 2025 Australian Food Sales ($m) EBIT ($m) ROFE (%) F25 F24 Normalised (52 WEEKS) (53 WEEKS) Change change1 3.1% 1 10.5%1 4.8 pts1 Total sales ($m) 51, 452 50,823 1.2% 3.1% ↑ vs. F24 ↓ vs. F24 ↓ vs. F24 EBITDA ($m) 4,766 5,045 (5.5)% (3.9)% EBIT ($m) 2,753 3,150
Slide 49: Australian Food – WooliesX
48 Woolworths Group Full Year Results 2025 Australian Food SALES PERFORMANCE BY BUSINESS ($m) F25 F24 Normalised (52 WEEKS) (53 WEEKS) Change change1 Woolworths Food Retail 50,864 50,345 1.0% 2.9% (Stores and eCommerce)2 WooliesX (including 8,553 7,506 13.9% 15.9% eCommerce)3 Elimination of (7,309)
Slide 50: Australian Food – WooliesX
49 Woolworths Group Full Year Results 2025 Australian Food – WooliesX eComX EverydayX idX & Cartology 44.1 million eCom orders fulfilled, up Weekly average digital traffic to Group 10.4 million active members2, up 6% vs. F24 21% vs. F24 platforms up 8% vs. F24 Everyday Extra paid subscribers up 31%
Slide 51: Australian B2B
Australian B2B
Slide 52: Australian B2B
51 Woolworths Group Full Year Results 2025 Australian B2B SALES PERFORMANCE BY BUSINESS ($m) F25 F24 Normalised (52 WEEKS) (53 WEEKS) Change change1 B2B Food 3,485 3,338 4.4% 6.4% B2B Supply Chain 2,258 2,256 0.1% 0.8% Total Australian B2B sales 5,743 5,594 2.7% 4.1% B2B Food B2B Supply Chain Strong
Slide 53: New Zealand Food
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Slide 54: New Zealand Food
53 Woolworths Group Full Year Results 2025 New Zealand Food SALES PERFORMANCE BY BUSINESS ($m)3 F25 F24 Change (52 WEEKS) (53 WEEKS) Change normalised4 New Zealand 6,356 6,412 (0.9)% 0.9% Supermarkets (store- originated) eCommerce 1,232 1,075 14.7% 17.1% Living our purpose and Delivering customer St
Slide 55: BIG W
W Living
Slide 56: W Living
55 Woolworths Group Full Year Results 2025 W Living F25 F24 Change (52 WEEKS) (53 WEEKS) Change normalised1 Total sales ($m) 5,638 5,220 8.0% 9.9% EBITDA ($m) 234 227 3.4% 3.9% LBIT ($m) (63) (29) 113.4% 120.1% H2 comparable sales growth Woolworths MarketPlus Customer NPS LBIT to sales (%) (1.1) (0.
Slide 57: BIG W
56 Woolworths Group Full Year Results 2025 BIG W SALES PERFORMANCE ($m) F25 F24 Change (52 WEEKS) (53 WEEKS) Change normalised1 BIG W (store-originated) 4,155 4,199 (1.0)% 0.8% Continue to build Drive online growth Product-led Strong retail eCommerce 489 481 1.7% 4.0% momentum in including 3P transf
Slide 58: Glossary
57 Woolworths Group Full Year Results 2025 Glossary Active eCom customers DAP n.m. TRIFR Voice of Team (VOT) Customers that have made a Directly-attributable profit includes Not meaningful 12-month rolling total recordable Survey measuring sustainable purchase online in the last four weeks costs dir
Slide 59: Disclaimer
58 Woolworths Group Full Year Results 2025 Disclaimer This presentation contains summary information about Woolworths Group Limited (Woolworths Group) and its activities current as at the date of this presentation. It is sourced from and should be read in conjunction with Woolworths’ other periodic