Australia · Delayed Price · Currency is AUD Wesfarmers Earnings Call Transcripts
Fiscal Year 2026
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Net profit after tax rose 9.3% to AUD 1.6 billion, with strong growth in Bunnings, Kmart, and new platforms like Lithium and Health. Officeworks earnings declined due to transformation costs, while free cash flow surged on asset sales. Retail and lithium divisions are expected to drive further growth.
Fiscal Year 2025
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Record profit and increased dividends were reported, with strong support for all resolutions. Strategic investments in technology, supply chain, and sustainability were highlighted, alongside leadership changes and robust shareholder engagement on key risks and future plans.
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Net profit after tax rose 14.4% year-over-year, driven by strong retail performance and portfolio actions, despite challenging trading conditions. Capital returns and dividends reached AUD 3.56 per share, with robust cash flow and a strengthened balance sheet. Retail divisions show positive momentum into FY26.
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The group is focused on disciplined capital allocation, digital and omnichannel growth, and expanding into new platforms like health and lithium. Divisions are investing in productivity, supply chain, and customer experience, with a strong balance sheet supporting future growth and potential capital returns.
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The discussion highlighted a focus on resilience, value, and long-term growth amid global uncertainty, with Bunnings and Kmart driving innovation and efficiency. The company is leveraging digital investments, supply chain strength, and portfolio diversity to navigate challenges and capitalize on new opportunities.
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Sustained sales and earnings growth is underpinned by strategic investments in category expansion, digital transformation, and space optimization. Productivity gains, supply chain enhancements, and a growing commercial segment support long-term resilience and value creation.
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Net profit after tax rose 2.9% to AUD 1.5 billion, with strong performances from Bunnings and Kmart Group, and a 4.1% increase in the interim dividend. Portfolio actions included the sale of Coregas and the wind-down of Catch, while ongoing productivity and digital investments are expected to offset cost pressures.
Fiscal Year 2024
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Record profit and dividend growth were achieved despite economic headwinds, with Kmart and Bunnings highlighted for strong performance and strategic expansion. All board and remuneration resolutions passed with overwhelming support, and key risks such as regulatory burdens and supply chain ethics were addressed.
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Net profit after tax rose 3.7% to AUD 2.6 billion, with strong retail performance led by Kmart Group and continued investment in productivity and technology. Outlook for FY 2025 is cautious amid persistent cost pressures, but the group expects to move forward overall.