Wesfarmers Ltd Old (WFAFF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well hello everyone and welcome to our 2025 full year results briefing and today I'm joined in Perth with our divisional managing directors and our CFO Anthony Giannotti. I'll start with providing a summary of the group's performance for the year together with some comments on our strategic progress. Anthony will then talk through the financial results in more detail Then I'll provide some broader comments on the portfolio and the outlook for the group. And then our divisional managing directors, Anthony and I, would be happy to take any questions. So starting on slide four, a slide that will be familiar to most of you. Westfarmers primary objective is to deliver a satisfactory return to shareholders. And we define satisfactory as a top quartile total shareholder return over the long term. And we recognise that we can only achieve this if we continue to anticipate the needs of our customers, look after our team members, engage with suppliers in a fair and ethical manner, contribute positively to the communities in which we operate, take care of the environment and act with integrity and honesty. Now turning to slide five. This year, Westfarmers net profit after tax increased 14.4%, and excluding significant items, profit increased 3.8%. Trading conditions were challenging in the 2025 financial year, especially in the first half, as many customers and businesses continued to face cost of living and cost of doing business pressures. Our solid result in this environment highlights the quality of our businesses and teams, and it was pleasing to see our largest divisions, Bunnings and Kmart Group, continue to perform well. Our results reflect continued strong execution of growth and productivity initiatives. This has helped our businesses deliver greater value, service an...