Accounting Ratios (Version 1)

8/3/2019 Accounting Ratios (Version 1)

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FORMULAE

PROFITABILITY MEASURES

Return on Assets (EBIT) / (average total assets)

Return on Equity (net profit - pref. dividends) / (ave ordinary shareholders equity)

Net Profit Margin (net profit) / (sales)

Gross Profit Margin (sales - cost of goods sold) / (sales)

Basic Earnings Per Share ($) From Balance Sheet

EFFICIENCY MEASURES

Total Asset Turnover (sales) / (average total assets)

Accounts Receivable Turnover (sales) / (average trade accounts receivable)

Accounts Receivable Turnover (Days) (days in the period) / (accounts receivable turnover)

Inventory Turnover (cost of goods sold) / (average inventory)

Inventory Turnover in Days (days in the period) / (inventory turnover)

Accounts Payable Turnover (purchases) / (average trade accounts payable)

Accounts Payable Turnover (Days) (days in the period) / (accounts payable turnover)

LIQUIDITY MEASURES

Short Term Solvency Risk

Current Ratio (current assets) / (current liabilities)

Quick Ratio (current assets - inventories) / (current liabilities)

Cash Flow from Operations to Current Labilities (cash flow from operations) / (average current liabilities)

Long Term Solvency Risk

Debt to Total Assets (total liabilities) / (total assets)

Cash Flow from Operations to total liabilities ($) (cash flow from operations) / (average total liabilities)

Interest Coverage Ratio (EBIT) / (interest and finance expense)MARKET RATIOS

Price/Earnings Ratio (market price per ordinary share) / (earnings per share)

Dividend Yield (dividends per ordinary share) / (market price per ordinary share)

FORMULAE

PROFITABILITY MEASURES

Return on Assets (EBIT) / (average total assets)

Return on Equity (net profit - pref. dividends) / (ave ordinary shareholders equity)

Net Profit Margin (net profit) / (sales)

Gross Profit Margin (sales - cost of goods sold) / (sales)

Basic Earnings Per Share ($) From Balance Sheet

EFFICIENCY MEASURES

Total Asset Turnover (sales) / (average total assets)

Accounts Receivable Turnover (sales) / (average trade accounts receivable)

Accounts Receivable Turnover (Days) (days in the period) / (accounts receivable turnover)


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Inventory Turnover (cost of goods sold) / (average inventory)

Inventory Turnover in Days (days in the period) / (inventory turnover)

Accounts Payable Turnover (purchases) / (average trade accounts payable)

Accounts Payable Turnover (Days) (days in the period) / (accounts payable turnover)

LIQUIDITY MEASURES

Short Term Solvency Risk

Current Ratio (current assets) / (current liabilities)

Quick Ratio (current assets - inventories) / (current liabilities)

Cash Flow from Operations to Current Labilities (cash flow from operations) / (average current liabilities)

Long Term Solvency Risk

Debt to Total Assets (total liabilities) / (total assets)

Cash Flow from Operations to total liabilities ($) (cash flow from operations) / (average total liabilities)

Interest Coverage Ratio (EBIT) / (interest and finance expense)

MARKET RATIOS

Price/Earnings Ratio (market price per ordinary share) / (earnings per share)

Dividend Yield (dividends per ordinary share) / (market price per ordinary share)


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Woolworths

2009 FY 2010 FY 2011 FY

17.20% 17.30% 16.60%

26.35% 26.06% 27.27%

3.75% 3.94% 3.95%

25.45% 25.73% 25.78%

1.507 1.640 1.746

3.03 2.91 2.74

485.74 320.29 215.57

0.75 1.14 1.69

11.73 11.41 11.20

31.12 31.99 32.59

9.39 9.32 9.40

39 39 38.8

0.76 0.73 0.80

0.24 0.25 0.34

0.41 0.41 0.39

58.70% 58.70% 62.80%

0.27 0.27 0.25

1.5587 1.5724 1.5045

NA NA 14.32

NA NA 6.57

WesFarmers

2009 FY 2010 FY 2011 FY*

7.76% 7.33% 8.07%

69.41% 63.95% 76.84%

3.10% 3.14% 3.63%

31.18% 30.99% 30.96%

1.585 1.357 1.667

1.25 1.27 1.39

35.29 36.97 36.06

10.34 9.87 10.12


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7.25 7.38 7.57

50.28 49.46 48.22

8.48 7.95 7.63

43 46 48

1.32 1.23 1.17

0.70 0.64 0.60

0.37 0.43 0.35

37.90% 37.06% 37.90%

0.19 0.23 0.19

3.1 4.39 6.14

NA NA 18.94

NA NA 6.11


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BALANCE SHEET

Assets 2009 2010 2011

Current assets

Cash 762.6 713.4 1,519.60

Trade and other receivables 664.2 916.8 1,122.20

Inventories 3,292.60 3,438.80 3,736.50

Assets held for sale 36.9 37.3 93.9

Other financial assets 102.9 92.7 120.8

Total current assets 4,859.20 5,199.00 6,593.00

Non-current assets

Trade and other receivables 2.7 13.3 14.9


Property, Plant and Equipment 6,653.90 7,639.10 8,620.30

Intangiables 4,933.10 5,071.00 5,236.60

Deferred tax assets 480.6 432.6 510.4

Total non-current assets 12,225.70 13,288.30 14,501.50

Total assets 17,084.90 18,487.30 21,094.50

Liabilities

Current liabilities

Trade and other payables 5,110.00 5,278.90 5,512.80

Borrowings 188.6 871.7 1,471.10

Current tax liabilities 279.5 199 204.7

Other financial liabilities 99.3 24.7 238.7

Provisions 737.2 779.1 861

Total current liabilities 6,414.60 7,153.40 8,288.30

Non-current liabilities

Borrowings 2,986.30 2,670.40 3,373.80

Other Financial Liabilities 78.4 236.7 915.5

Provisions 362.3 416.3 465.2Other 186 192.8 205.9

Total non-current liabilities 3,613.00 3,516.20 4,960.40

Total liabilities 10,027.60 10,669.60 13,248.70

Net assets 7,057.30 7,817.70 7,845.80

Equity

Issued capital 3,858.60 3,784.40 3,988.60

Shares held in trust 51.2 41.2 56.1

Reserves 173.5 28 236.8

Retained earnings 3,178.60 3,855.20 3,897.50

Equity attributable to the members of Woolworths Limited 6,812.50 7,570.40 7,593.20

Non-controlling interest 244.8 247.3 252.6

Total equity 7,057.30 7,817.70 7,845.80

Wool


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BALANCE SHEET

Assets 2009 2010 2011

Current assets

Cash and cash equivalents 2,124 1,640 897

Trade and other receivables 1,893 1,767 2,149

Inventories 4,685 4,658 4,987

Derivatives 38 75 184

Investments backing insurance contracts 1,003 1,384 1,543

Other 221 150 458

Total current assets 9,964 9,674 10,218

Non-current assets

Receivables 211 28 9Avaliable for sale investments 18 19 17

Other financial assets 468 471

Investment in associates 392 608 437

Deferred tax assets 765 7,542 8,302

Property, Plant and Equipment 7,126 4,328 4,353

Intangiables 4,365 16,206 16,227

Goodwill 16,273 127 233


Other 34 44 76

Total non-current assets 29,331 29,562 30,596

Total assets 39,295 39,236 40,814

LiabilitiesCurrent liabilities

Trade and other payables 4,037 4,603 5,059

Interest-bearing loans and borrowings 634 304 266

Income Tax Payable 27 167 345

Provisions 1,066 1,176 1,166

Insurance Liabilties 1,198 1,307 1,532


Other 336 188 258

WesF


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Total current liabilities 7,852 8,722


Payables 3 9 24

Interest-bearing loans and borrowings 5,535 5,049 4,613

Provisions 1,042 1,070 1,092

Insurance Liabilties 503 408 803Derivatives 153 138 208

Other 96 16 23

Total non-current liabilities 7,332 6,690 6,763

Total liabilities 15,043 14,542 15,485

Net assets 24,252 24,694 25,329

Equity

Issued Capital 23,286 23,286 23,286

Employee reserved shares 62 51 41

Retained earnings 155 1,414 1,774

reserves 1,183 45 310

Total equity 24,252 24,694 25,329


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[2009] [2010] [2011]

100.00 93.55 199.27

100.00 138.03 168.96

100.00 104.44 113.48

100.00 101.08 254.47

100.00 90.09 117.40

100.00 106.99 135.68

100.00

100.00 492.59 551.85

100.00 85.14 76.77

100.00 114.81 129.55

100.00 102.80 106.15

100.00 90.01 106.20

100.00 108.69 118.61

100.00 108.21 123.47

100.00 103.31 107.88

100.00 462.20 780.01

100.00 71.20 73.24

100.00 24.87 240.38

100.00 105.68 116.79

100.00 111.52 129.21

100.00 89.42 112.98

100.00 301.91 1167.73

100.00 114.90 128.40100.00 103.66 110.70

100.00 97.32 137.29

100.00 106.40 132.12

100.00 110.77 111.17

100 98.08 103.37

100 80.47 109.57

100 16.14 136.48

100 121.29 122.62

100 111.13 111.46

100 101.02 103.19

100 110.77 111.17

orths


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[2009] [2010] [2011]

100.00 77.21 42.23

100.00 93.34 113.52

100.00 99.42 106.45

100.00 197.37 484.21

100.00 137.99 153.84

100.00 67.87 207.24

100.00 97.09 102.55

100.00 13.27 4.27100.00 105.56 94.44

100.00 155.10 111.48

100.00 985.88 1085.23

100.00 60.74 61.09

100.00 371.27 371.75

100.00 0.78 1.43

100.00 130.61 320.41

100.00 129.41 223.53

100.00 100.79 104.31

100.00 99.85 103.87

100.00 114.02 125.32

100.00 47.95 41.96

100.00 618.52 1277.78

100.00 110.32 109.38

100.00 109.10 127.88

100.00 25.91 23.24

100.00 55.95 76.79

rmers


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100.00 300.00 800.00

100.00 91.22 83.34

100.00 102.69 104.80

100.00 81.11 159.64100.00 90.20 135.95

100.00 16.67 23.96

100.00 91.24 92.24

100.00 96.67 102.94

100.00 101.82 104.44

100.00 100.00 100.00

100.00 82.26 66.13

100.00 912.26 1144.52

100.00 3.80 26.20

100.00 101.82 104.44


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CASH FLOW STATEMENT

Cash flows from operating activities 2009 2010 2011

Receipts from customers 54,169 55,528 58,408

Payments to suppliers and employees 49,909 51,299 54,661

dividends and distributions received from associates 51 19 20

Interest received 147 145 149

Borrowing costs 816 616 472Income tax paid 598 450 527

Net cash from operating activities 3,044 3,327 2,917

Cash flows from investing activities

Net acquisition of insurance deposits 132 62 76

Purchase of property, plant and equipment and intangibles 1,503 1,656 2,062

Proceeds from sale of property, plant and equipment 61 30 216

Proceeds from sale of controlled entities 9 1 20

Net investments in asspciates and joint ventures 46 4 38

Acquisition of subsidiaries, net cash acquired 16 13 88

Net cash from investing activities 1,627 1,696 1,876

Cash flows from financing activities

Proceeds from borrowings 2,242 1,380 3,291

Repayment of borrowings 5,706 2,177 3,523Proceeds from exercise of in-substance options under the employee 6 7 5

Equity Dividends Paid 1,066 1,325 1,557

Proceeds from issue of shares 4,646 NA NA

Transaction costs from issue of shares 53 NA NA

Net cash used in financing activities 69 2,115 1,784

Net increase in cash and cash equivalents 1,486 484 743

Cash at beginning of the financial year 638 2,124 1,640

Cash at the end of the financial period 2,124 1,640 897

CASH FLOW STATEMENT

Cash flows from operating activities 2009 2010 2011

Receipts from customers 53,184.30 55,664.60 58,886.60

Receipts from vendors and tenants 41.6 45.5 52.9

Payments to suppliers and employees 49,575.20 51,803.50 54,797.30

Interest and costs of finance paid 257.4 260.5 332.1

Interest received 13 10.7 22.5

Income tax paid 802.1 896.9 841.5

Net cash from operating activities 2,604.20 2,759.90 2991.1


Proceeds from sale of property, plant and equipment 18.7 55.4 394.4

proceeds from sale of investments 4.2

Payments for capital expendiature 1,678.20 1,817.70 2,138.50

Payment for purchase of investments 1.9

(repayments)/advances (to)/ from related entities

Dividends received 7.8 12.5 10.6

Payments for purchase of businesses 154.5 212.6 443.9

WesFa

Wool


12/34

Net cash from investing activities 1,806.20 1,960.10 2,177.40


Proceeds from issue of equity securities 66.7 73.8 97.7

Payments for share buyback 294.6 738.7

Proceeds from external borrowings 13,619.30 12,833.80 13,349.20

Repayment of external borrowings 13,458.50 12,347.70 11,590.90

Dividends paid 1012.4 1164.6 1,260.00Dividends paid to non-controlling interest 29.2 16.8 13.2

Repayment of employee share plan loans 5.2 3.7 7.4

Net cash (used in) financing activities 808.9 832.9 832.9

Net (decrease)/increase in cash held 10.9 33.1 33.1

Cash at the beginning of the financial period 754.6 746.7 746.7

Cash at the end of the financial period 746.7 713.4 713.4

Dividend 1,174.30 1,349.20 1457.7

Issuance of shares under the DRP 161.9 184.6 197.7


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[2009] [2010] [2011]

100.00 102.51 107.83

100.00 102.79 109.52

100.00 37.25 39.22

100.00 98.64 101.36

100.00 75.49 57.84100.00 75.25 88.13

100.00 109.30 95.83

100.00 46.97 57.58

100.00 110.18 137.19

100.00 49.18 354.10

100.00 11.11 222.22

100.00 8.70 82.61

100.00 81.25 550.00

100.00 104.24 115.30

100.00 61.55 146.79

100.00 38.15 61.74100.00 116.67 83.33

100.00 124.30 146.06

NA NA

NA NA

100.00 3065.22 2585.51

100.00 32.57 50.00

100.00 332.92 257.05

100.00 77.21 42.23

[2009] [2010] [2011]

100.00 104.66 110.72

100.00 109.38 127.16

100.00 104.49 110.53

100.00 101.20 129.02

100.00 82.31 173.08

100.00 111.82 104.91

100.00 105.98 114.86

100.00 296.26 2109.09

100.00

100.00 108.31 127.43

100.00 160.26 135.90

100.00 137.61 287.31

rmers

orths


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100.00 108.52 120.55

100.00 110.64 146.48

NA NA NA

100.00 94.23 98.02

100.00 91.75 86.12

100.00 115.03 124.46100.00 57.53 45.21

100.00 71.15 142.31

100.00 102.97 102.97

100.00 303.67 303.67

100.00 98.95 98.95

100.00 95.54 95.54

100.00 114.89 124.13

100.00 114.02 122.11


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COMPREHENSIVE INCOME STATEMENT

2009 2010 2011

Revenue 49,023 49,865 52,891

Sale of goods 1,618 1,620 1,622

Interest subsidiaries NA 149 145

Interest other 146 193 217

Dividends 195 51,827 54,875Expenses

Raw materials and inventory purchased 33,719 34,411 36,515

employee benefits expense 6,535 6,828 7,116

Insurance expenses 1,203 1,165 1,283

Freight and other related expenses 802 822 895

occupancy-related expenses 2,008 2,077 2,151

Depreciation and amortisation 1,024 917 923

other expenses 2,833 2,982 3,004

other income 169 149 259

Finance costs 963 654 526

Share of profits and losses of associates 50 95 15

Profit before income tax 2,014 2,215 2,706Income tax (expense)/benefit 479 650 784

Profit attributable to members of the parent 1,535 1,565 1,922

Earnings per share (cents per share) 160 135.7 166.7


2009 2010 2011

Revenue from sale of goods 49,594.80 51,694.30 54,142.90

Other operating revenue 103 90.5 136.6Revenue from operations 49,697.80 51,784.80 54,279.50

Cost of sales 36,974.40 38,391.20 40,186.30

Gross profit 12,723.40 13,393.60 14,093.20

Other revenue 148.4 179.3 226.2

Branch expenses 7,800.40 8,165.40 8,583.80

Adminstration expenses 2,255.90 2,325.40 2,459.20

Earnings before interest and tax 2,815.50 3,082.10 3,276.40

Financial expense 235.2 238.5 -300

Financial income 46 27 38.5

Net financing (cost)/benefit 189.2 211.5 261.5

Net profit before income tax expense 2,626.30 2,870.60 3,014.90

Income tax expense 766.3 832.6 874.6

Profit after income tax expense 1,860.00 2,038.00 2,140.30Net profit attributable to:

Equity holders of the parent entity 1,835.70 2,020.80 2,124.00


Earnings per share (EPS)

Basic EPS 150.71 164.01 174.64

Diluted EPS 149.69 163.17 173.6

WesF

Wool


16/34

Weighted average number of shares used in the calculation of

basic EPS 1,218.00 1,232.10 1,216.20


17/34

[2009] [2010] [2011]

100.00 101.72 107.89

100.00 100.12 100.25

NA NA NA

100.00 132.19 148.63

100.00 26577.95 28141.03

100.00 102.05 108.29

100.00 104.48 108.89

100.00 96.84 106.65

100.00 102.49 111.60

100.00 103.44 107.12

100.00 89.55 90.14

100.00 105.26 106.04

100.00 88.17 153.25

100.00 67.91 54.62

NA NA NA

100.00 109.98 134.36100.00 135.70 163.67

100.00 101.95 125.21

100.00 84.81 104.19

[2009] [2010] [2011]

100.00 104.23 109.17

100.00 87.86 132.62100.00 104.20 109.22

100.00 103.83 108.69

100.00 105.27 110.77

100.00 120.82 152.43

100.00 104.68 110.04

100.00 103.08 109.01

100.00 109.47 116.37

100.00 101.40 -127.55

100.00 58.70 83.70

100.00 111.79 138.21

100.00 109.30 114.80

100.00 108.65 114.13

100.00 109.57 115.07

100.00 110.08 115.71

100.00 70.78 67.08

100.00 108.82 115.88

100.00 109.01 115.97

rmers

orths


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100.00 101.16 99.85


19/34

BALANCE SHEET

2009 2010 2011

Assets

Current assets

Cash and cash equivalents 2,124 1,640 897

Trade and other receivables 1,893 1,767 2,149

Inventories 4,685 4,658 4,987Derivatives 38 75 184

Investments backing insurance contracts 1,003 1,384 1,543

Other 221 150 458

Total current assets 9,964 9,674 10,218

Non-current assets

Receivables 211 28 9

Avaliable for sale investments 18 19 17

Other financial assets 468 471

Investment in associates 392 608 437

Deferred tax assets 765 7,542 8,302

Property, Plant and Equipment 7,126 4,328 4,353

Intangiables 4,365 16,206 16,227Goodwill 16,273 127 233


Other 34 44 76

Total non-current assets 29,331 29,562 30,596

Total assets 39,295 39,236 40,814

Liabilities

Current liabilities

Trade and other payables 4,037 4,603 5,059

Interest-bearing loans and borrowings 634 304 266

Income Tax Payable 27 167 345

Provisions 1,066 1,176 1,166

Insurance Liabilties 1,198 1,307 1,532Derivatives 413 107 96

Other 336 188 258

Total current liabilities 7,852 8,722


Payables 3 9 24

Interest-bearing loans and borrowings 5,535 5,049 4,613

Provisions 1,042 1,070 1,092

Insurance Liabilties 503 408 803


Other 96 16 23

Total non-current liabilities 7,332 6,690 6,763

Total liabilities 15,043 14,542 15,485Net assets 24,252 24,694 25,329

Equity

Issued Capital 23,286 23,286 23,286

Employee reserved shares 62 51 41

Retained earnings 155 1,414 1,774

reserves 1,183 45 310

Total equity 24,252 24,694 25,329

WesFa


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BALANCE SHEET

Assets 2009 2010 2011

Current assets

Cash 762.6 713.4 1,519.60

Trade and other receivables 664.2 916.8 1,122.20

Inventories 3,292.60 3,438.80 3,736.50

Assets held for sale 36.9 37.3 93.9


Total current assets 4,859.20 5,199.00 6,593.00

Non-current assets

Trade and other receivables 2.7 13.3 14.9Other financial assets 155.4 132.3 119.3

Property, Plant and Equipment 6,653.90 7,639.10 8,620.30

Intangiables 4,933.10 5,071.00 5,236.60

Deferred tax assets 480.6 432.6 510.4

Total non-current assets 12,225.70 13,288.30 14,501.50

Total assets 17,084.90 18,487.30 21,094.50

Current liabilities

Trade and other payables 5,110.00 5,278.90 5,512.80

Borrowings 188.6 871.7 1,471.10

Current tax liabilities 279.5 199 204.7

Other financial liabilities 99.3 24.7 238.7

Provisions 737.2 779.1 861

Total current liabilities 6,414.60 7,153.40 8,288.30


Borrowings 2,986.30 2,670.40 3,373.80

Other Financial Liabilities 78.4 236.7 915.5

Provisions 362.3 416.3 465.2

Other 186 192.8 205.9

Total non-current liabilities 3,613.00 3,516.20 4,960.40

Wool


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Total liabilities 10,027.60 10,669.60 13,248.70

Net assets 7,057.30 7,817.70 7,845.80

Equity

Issued capital 3,858.60 3,784.40 3,988.60

Shares held in trust 51.2 41.2 56.1

Reserves 173.5 28 236.8

Retained earnings 3,178.60 3,855.20 3,897.50Equity attributable to the members of Woolworths Limited 6,812.50 7,570.40 7,593.20


Total equity 7,057.30 7,817.70 7,845.80


22/34

[2009] [2010] [2011]

5.405267846 4.179834846 2.197775273

4.817406795 4.503517178 5.265350125

11.92263647 11.87175043 12.218846470.096704415 0.191150984 0.450825697

2.552487594 3.527372821 3.780565492

0.562412521 0.382301968 1.122163963

25.35691564 24.65592823 25.03552703

0.53696399 0.071363034 0.022051257

0.045807355 0.048424916 0.041652374

NA 1.192782139 1.154015779

0.99758239 1.549597309 1.070711031

1.946812572 19.22214293 20.34105944

18.13462273 11.0306861 10.66545793

11.1082835 41.30390458 39.7584162341.41239343 0.323682333 0.57088254

0.374093396 0.489346519 1.154015779

0.086525003 0.11214191 0.186210614

74.64308436 75.34407177 74.96447297

100 100 100

10.2735717 11.73157305 12.39525653

1.613436824 0.774798654 0.651737149

0.068711032 0.425629524 0.845298182

2.712813335 2.997247426 2.856862841

3.048733936 3.331124478 3.7536139561.051024303 0.272708737 0.235213407

0.85507062 0.479151799 0.632136032

NA 20.01223366 21.3701181

0.007634559 0.022938118 0.058803352

14.08576155 12.86828423 11.30249424

2.651736862 2.727087369 2.675552506

1.280061076 1.039861352 1.967462145

0.389362514 0.35171781 0.509629049

0.244305891 0.040778877 0.056353212

18.65886245 17.05066775 16.57029451

38.2822242 37.06290142 37.9404126

61.7177758 62.93709858 62.0595874

59.25944777 59.34855745 57.05395208

0.157780888 0.129982669 0.100455726

0.39445222 3.603833214 4.346547753

3.01056114 0.11469059 0.759543294

61.7177758 62.93709858 62.0595874

rmers


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[2009] [2010] [2011]

4.46 3.86 7.20

3.89 4.96 5.32

19.27 18.60 17.71

0.22 0.20 0.45

0.60 0.50 0.57

28.44 28.12 31.25

0.02 0.07 0.070.91 0.72 0.57

38.95 41.32 40.87

28.88 27.43 24.82

2.81 2.34 2.42

71.56 71.88 68.75

100.01 100.00 100.00

29.91 28.55 26.13

1.10 4.72 6.97

1.64 1.08 0.97

0.58 0.13 1.13

4.32 4.21 4.08

37.55 38.69 39.29

17.48 14.44 15.99

0.46 1.28 4.34

2.12 2.25 2.21

1.09 1.04 0.98

21.15 19.02 23.52

orths


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58.70 57.71 62.81

41.31 42.29 37.19

22.59 20.47 18.91

0.30 0.22 0.27

1.02 0.15 1.12

18.61 20.85 18.4839.88 40.95 36.00

1.43 1.34 1.20

41.31 42.29 37.19


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CASH FLOW STATEMENT

Cash flows from operating activities 2009 2010

Receipts from customers 54,169 55,528

49,909 51,299

Payments to suppliers and employees 51 19

dividends and distributions received from associates

Interest received 147 145Borrowing costs 816 616

Income tax paid 598 450

Net cash from operating activities 3,044 3,327


Net acquisition of insurance deposits 132 62

Purchase of property, plant and equipment and intangibles 1,503 1,656

Proceeds from sale of property, plant and equipment 61 30

Proceeds from sale of controlled entities 9 1

Net investments in asspciates and joint ventures 46 4

Acquisition of subsidiaries, net cash acquired 16 13

Net cash from investing activities 1,627 1,696

Cash flows from financing activitiesProceeds from borrowings 2,242 1,380

Repayment of borrowings 5,706 2,177

Proceeds from exercise of in-substance options under the employee share plan6 7

Equity Dividends Paid 1,066 1,325

Proceeds from issue of shares 4,646 NA

Transaction costs from issue of shares 53 NA

Net cash used in financing activities 69 2,115

Net increase in cash and cash equivalents 1,486 484

Cash at beginning of the financial year 638 2,124

Cash at the end of the financial period 2,124 1,640


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CASH FLOW STATEMENT

Cash flows from operating activities 2009 2010

Receipts from customers 53,184.30 55,664.60

Receipts from vendors and tenants 41.6 45.5

Payments to suppliers and employees 49,575.20 51,803.50

Interest and costs of finance paid 257.4 260.5

Interest received 13 10.7

Income tax paid 802.1 896.9

Net cash from operating activities 2,604.20 2,759.90


Proceeds from sale of property, plant and equipment 18.7 55.4

proceeds from sale of investments NA 4.2

Payments for capital expendiature 1,678.20 1,817.70Payment for purchase of investments NA 1.9

(repayments)/advances (to)/ from related entities

Dividends received 7.8 12.5

Payments for purchase of businesses 154.5 212.6

Net cash from investing activities 1,806.20 1,960.10


Proceeds from issue of equity securities 66.7 73.8

Proceeds from issue of equity securities in subsidiary to non controlling interests NA 79.5

Payments for share buyback NA 294.6


Proceeds from external borrowings 13,619.30 12,833.80

Repayment of external borrowings 13,458.50 12,347.70

Dividends paid 1012.4 1164.6Dividends paid to non-controlling interest 29.2 16.8

Repayment of employee share plan loans 5.2 3.7

Net cash (used in) financing activities 808.9 832.9

Net (decrease)/increase in cash held 10.9 33.1

Effects of exchange rate changes on balance of cash held in foreign currencies 3 0.2

Cash at the beginning of the financial period 754.6 746.7

Cash at the end of the financial period 746.7 713.4

Dividend 1,174.30 1,349.20


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Issuance of shares under the DRP 161.9 184.6


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2011 [2009] [2010] [2011]

58,408 100 100 100

54,661 92.13572338 92.38402248 93.58478291

20 0.09414979 0.034216972 0.034241885

149 0.271372925 0.26112952 0.255102041472 1.506396648 1.109350238 0.808108478

527 1.103952445 0.810401959 0.902273661

2,917 5.619450239 5.99157182 4.99417888

76 0.243681811 0.111655381 0.130119162

2,062 2.774649707 2.98227921 3.53033831

216 0.112610534 0.054026797 0.369812354

20 0.016614669 0.001800893 0.034241885

38 0.084919419 0.007203573 0.065059581

88 0.029537189 0.023411612 0.150664293

1,876 3.003562923 3.05431494 3.211888782

3,291 4.138898632 2.485232675 5.634502123

3,523 10.53370009 3.92054459 6.031707985

5 0.011076446 0.012606253 0.008560471

1,557 1.967915228 2.386183547 2.665730722

NA 8.576861304 NA NA

NA 0.097841939 NA NA

1,784 0.127379128 3.808889209 3.054376113

743 2.743266444 0.87163233 1.272086016

1,640 1.177795418 3.825097248 2.807834543

897 3.921061862 2.953464919 1.535748528

WesFarmers


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2011 [2009] [2010] [2011]

58,886.60 100 100 100

52.9 0.078218572 0.081739562 0.08983368

54,797.30 93.2139748 93.0636347 93.05563575

332.1 0.483977414 0.467981446 0.563965316

22.5 0.024443304 0.019222271 0.038209032

841.5 1.508151842 1.611257424 1.429017807

2991.1 4.896557819 4.958088264 5.079423842

394.4 0.035160752 0.099524653 0.669761881

NA 0.00754519 NA

2,138.50 3.15544249 3.265450574 3.631556245NA NA 0.0034133 NA

10.6 0.014665982 0.022455924 0.0180007

443.9 0.290499264 0.381930347 0.753821752

2,177.40 3.396115019 3.521268454 3.697615417

97.7 0.125412951 0.132579772 0.165912109

176.6 NA 0.142819674 0.299898449

738.7 NA 0.529241205 1.254444984

13,349.20 25.60774514 23.05558649 22.66933394

11,590.90 25.30540028 22.18232054 19.68342543

1,260.00 1.903569286 2.092173482 2.13970580713.2 0.054903421 0.030180761 0.022415966

7.4 0.009777322 0.006646953 0.012566526

832.9 1.52093757 1.496283096 1.414413466

33.1 0.02049477 0.059463285 0.056209732

0.2 0.005640762 0.000359295 0.000339636

746.7 1.41883977 1.341427047 1.268030418

713.4 1.403985763 1.281604467 1.21148105

1457.7 2.207982431 2.42380256 2.475435838

Woolworths


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197.7 0.304413144 0.331629078 0.33573003


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2009 2010 2011 [2009]

Revenue 49,023 49,865 52,891 100.00

Sale of goods 1,618 1,620 1,622 3.30

Interest subsidiaries 149 145 NA

Interest other 146 193 217 0.30

Dividends subsidiaries NA

Dividends other NA

other 195 51,827 54,875 0.40

Expenses

Raw materials and inventory purchased 33,719 34,411 36,515 68.78

employee benefits expense 6,535 6,828 7,116 13.33

Insurance expenses 1,203 1,165 1,283 2.45

Freight and other related expenses 802 822 895 1.64

occupancy-related expenses 2,008 2,077 2,151 4.10

Depreciation and amortisation 1,024 917 923 2.09

other expenses 2,833 2,982 3,004 5.78

other income 169 149 259 0.34

Finance costs 963 654 526 1.96

Share of profits and losses of associates 50 95 15 0.10

Profit before income tax 2,014 2,215 2,706 4.11

Income tax (expense)/benefit 479 650 784 0.98

Profit attributable to members of the parent 1,535 1,565 1,922 3.13

Earnings per share (cents per share) 160 135.7 166.7 0.33


2009 2010 2011 [2009]

Revenue from sale of goods 49,594.80 51,694.30 54,142.90 100.00

Other operating revenue 103 90.5 136.6 0.21

Revenue from operations 49,697.80 51,784.80 54,279.50 100.21

Cost of sales 36,974.40 38,391.20 40,186.30 74.55

Gross profit 12,723.40 13,393.60 14,093.20 25.65

Other revenue 148.4 179.3 226.2 0.30

Branch expenses 7,800.40 8,165.40 8,583.80 15.73

Adminstration expenses 2,255.90 2,325.40 2,459.20 4.55

WesFarmers

WesFarmers


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Earnings before interest and tax 2,815.50 3,082.10 3,276.40 5.68

Financial expense 235.2 238.5 300 0.47

Financial income 46 27 38.5 0.09

Net financing (cost)/benefit 189.2 211.5 261.5 0.38

Net profit before income tax expense 2,626.30 2,870.60 3,014.90 5.30

Income tax expense 766.3 832.6 874.6 1.55

Profit after income tax expense 1,860.00 2,038.00 2,140.30 3.75Net profit attributable to: 0.00

Equity holders of the parent entity 1,835.70 2,020.80 2,124.00 3.70

Non-controlling interest 24.3 17.2 16.3 0.05

Earnings per share (EPS)

Basic EPS 150.71 164.01 174.64 0.30

Diluted EPS 149.69 163.17 173.6 0.30

Weighted average number of shares used in the

calculation of basic EPS 1,218.00 1,232.10 1,216.20 2.46


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[2010] [2011]

100.00 100.00

3.25 3.07

0.30 0.27

0.39 0.41

NA NA

NA NA

103.93 103.75

69.01 69.04

13.69 13.45

2.34 2.43

1.65 1.69

4.17 4.07

1.84 1.75

5.98 5.68

0.30 0.49

1.31 0.99

0.19 0.03

4.44 5.12

1.30 1.48

3.14 3.63

0.27 0.32

[2010] [2011]

100.00 100.00

0.18 0.25

100.18 100.25

74.27 74.22

25.91 26.03

0.35 0.42

15.80 15.85

4.50 4.54


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5.96 6.05

0.46 0.55

0.05 0.07

0.41 0.48

5.55 5.57

1.61 1.62

3.94 3.950.00 0.00

3.91 3.92

0.03 0.03

0.32 0.32

0.32 0.32

2.38 2.25

Accounting Ratios (Version 1)

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