Woolworths Holdings Limited · JSE:WHL
Woolworths — H1 2002 Earnings Presentation
17 slides from Woolworths's earnings presentation, February 2002
Slide 1: Woolworths Holdings Limited Feb 2002
W WOOLWORTHS woolworths holdings limited feb 2002
Slide 2: Woolworths
W WOOLWORTHS
Slide 3: Group highlights
woolworths holdings results group highlights • From continuing operations: - Revenue up 19.1% - Profit before tax and exceptional item up 33.6% - Country Road shows small profit in A$ • Headline earnings per share: - All operations up 14.0% - Continuing operations up 32.3% • Interim dividend per sha
Slide 4: Country Road – US operations closure
woolworths holdings results country road – US operations closure • Decision taken after review on 17 January 2002 • Write-off of net assets A$ 18.9m, and other costs and provisions of A$ 5.0m (R112.8m after minority interests)
Slide 5: Income statement continuing operations
woolworths holdings results income continuing operations statement Dec Dec % 2001 2000 Change Rm Rm Revenue 4 3 190 518 19.1 Expenses (3 889) (3 293) 18.1 Share of joint venture loss (1) - - Net profit before exceptional item 300 225 33.6 Exceptional item - - (5) Net profit before tax 295 225 31.5 T
Slide 6: Profit before tax and exceptional item over the last 5 years
woolworths holdings results Profit before tax & exceptional item from continuing operations over the last 5 years 350 300 300 250 225 214 199 192 200 150 100 50 18% 8% - 17% 34% 10% 0 1997 1998 1999 2000 2001
Slide 7: Income statement
woolworths holdings results income statement Dec 2001 Dec 2000 % Change Rm Rm Revenue 4 385 3 671 19.5 Continuing operations 4 190 3 518 19.1 Woolworths 3 684 3 101 18.8 Country Road 506 417 21.4 Discontinued operations 195 153 27.5 Expenses 4 099 3 440 19.1 Continuing operations 3 889 3 293 18.1 Me
Slide 8: Income statement (cont.)
woolworths holdings results income statement (cont.) Dec Dec 2000 % 2001 Rm Change Rm Net profit before 231 23.8 exceptional items 285 Continuing operations 225 33.6 300 Discontinued operations 6 - (15) Exceptional items - - 133 Net profit before tax 231 152 (33.9)
Slide 9: Balance sheet
woolworths holdings results balance sheet Dec Dec 2001 2000 Change Rm Rm Rm Shareholders funds 2 2 371 173 198 Assets Property, plant and 1 equipment 895 011 (116) Investments, export partnerships 35 (7) 42 net of deferred tax Inventories 636 512 124 Financial services’ customers 1 1 643 286 357 Acc
Slide 10: Cash flow highlights
woolworths holdings results cash flow highlights Dec Dec 2000 2001 Rm Rm Increase in net overdraft (110) (81) Cash generated by operations 163 116 Utilised Dividends paid (78) (45) Capex (175) (126) Proceeds on disposal of property, plant and 153 20 equipment Loans to customers (117) (51) Investment
Slide 11: Cash flow (cont.) capex
woolworths holdings results cash flow (cont.) capex Store Country developments Road 22% 48% 27% IT 3% Motor vehicles
Slide 12: Woolworths operations results income statement
woolworths operations results income statement Dec Dec % 2001 2000 Change Rm Rm Revenue 3 684 3 101 18.8 Turnover 3 500 2 958 18.3 Interest 164 137 20.3 Other revenue 20 6 235.6 Expenses 3 394 2 872 18.2 Merchandise cost 2 405 2 032 18.3 Operating cost 989 840 17.7 Net profit 290 228 26.9 Exceptiona
Slide 13: Woolworths
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Slide 14: Operations performance
woolworths operations performance Dec 2001 Dec % Rm 2000 Change Rm Turnover 3 500 2 958 18.3 Textiles 1 864 1 654 12.6 Corporate (retail) 1 654 1 491 10.9 Franchise (cost 210 163 28.7 plus commission) Foods 1 548 1 245 24.4 Corporate (retail) 1 529 1 232 24.1 Franchise (cost 19 13 49.6 plus commissi
Slide 15: Operations strategic review
woolworths opertions strategic review • We aspire to being the most trusted and respected African retail brand • We will achieve this by nurturing and building lifetime relationships with our customers • These relationships will be earned by us all making the Woolies difference
Slide 16: Operations strategy
woolworths operations strategy • Focus on building a substantial growing textiles business • Drive the existing growth of our foods business • Grow our financial business by leveraging our brand • Build our international business in Africa and the Gulf • Focus on the Woolworths customer • Simplify o
Slide 17: Strategy: the opportunity area
woolworths strategy The opportunity area Foods Homeware Lingerie Ladieswear Menswear The opportunity area Childrenswea r WFS LSM 6 LSM 7 LSM 8 LSM 9