Full Year 2024 Wesfarmers Ltd Earnings Call Transcript
Key Points
- Wesfarmers Ltd (WFAFF) reported a 3.7% increase in net profit after tax to $2.6 billion.
- Operating cash flows increased by 9.9% to $4.6 billion, demonstrating strong financial health.
- Kmart Group's performance was a standout with earnings growth of nearly 25%, highlighting its market-leading value.
- The Board resolved to pay a fully franked final dividend of $1.07 per share, bringing the total dividend for the year to $1.98 per share, a 3.7% increase.
- Bunnings continued to grow sales and earnings in challenging market conditions, supported by innovation in product ranges and supply chain investments.
- WesCEF's earnings declined by 34.2% to $440 million due to lower global commodity prices and higher WA natural gas costs.
- Catch reported a loss of $96 million for the year, including an $18 million non-cash impairment and $5 million in restructuring costs.
- The Health division's return on capital remains below the company's hurdle rate, despite ongoing investments and acquisitions.
- The competitive environment in Australian e-commerce retail is intensifying, impacting the profitability of Catch.
- The industrial sector faces challenges with subdued market pricing and higher unit costs of production, particularly in the lithium segment.
Ladies and gentlemen, thank you for holding, and welcome to the Wesfarmers 2024 full-year results briefing. (Operator Instructions) This call is also being webcast live on the Wesfarmers website and can be accessed from the homepage of wesfarmers.com.au.
I would now like to hand the call over to the Managing Director of Wesfarmers Limited, Mr. Rob Scott. Please go ahead.
Thanks very much, and hi, everyone. Welcome to our 2024 full-year results briefing. In Perth, today, I'm joined by our divisional managing directors and our CFO, Anthony Gianotti. As we ordinarily do, I'll give an overview of the group's performance for the year, provide some comments on the portfolio, and then Anthony will provide more detail on the financial performance. I'll conclude with some comments on current market conditions and the outlook for the group. And then the divisional managing directors, Anthony, and I would welcome any questions that you may have.
So starting on
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
