2020 Annual Report
ABOUT WESFARMERS
From its origins in 1914 as a Western Australian farmers' cooperative, Wesfarmers has grown into one of Australia's largest listed companies. With headquarters in Perth, Wesfarmers' diverse businesses in this year's review cover: home improvement, outdoor living and building materials; general merchandise and apparel; ofce and technology products; manufacturing and distribution of chemicals and fertilisers; industrial and safety product distribution; and gas processing and distribution. Wesfarmers is one of Australia's largest private sector employers with approximately 107,000 team members and is owned by more than 487,000 shareholders.
ABOUT THIS REPORT
This annual report is a summary of Wesfarmers and its subsidiary companies' operations, activities and nancial performance and position as at 30June2020. In this report references to 'Wesfarmers', 'the company', 'the Group', 'we', 'us' and 'our' refer to Wesfarmers Limited (ABN28008984049), unless otherwise stated.
References in this report to a 'year' are to the nancial year ended 30June 2020 unless otherwise stated. All dollar gures are expressed in Australian dollars (AUD) unless otherwise stated.
References to AASB refer to the Australian Accounting Standards Board and IFRS refers to the International Financial Reporting Standards. There are references to IFRS and non-IFRS nancial information in this report. Non-IFRS nancial measures are nancial measures other than those dened or specied under any relevant accounting standard and may not be
directly comparable with other companies' information. Non-IFRS nancial measures are used to enhance the comparability of information between reporting periods (such as pre-AASB 16 nancial information). Non-IFRS nancial information should be considered in addition to, and is not intended to be a substitute for, IFRS nancial information and measures. Non-IFRS nancial measures are not subject to audit or review.
All references to 'Indigenous' people are intended to include Aboriginal and/or Torres Strait Islander people.
Wesfarmers is committed to reducing the environmental footprint associated with the production of this annual report and printed copies are only posted to shareholders who have elected to receive a printed copy. This report is printed on environmentally responsible paper manufactured under ISO14001 environmental standards.
Contents | |||
OVERVIEW | Group structure | 2 | |
Our primary objective | 3 | ||
The year in review | 4 | ||
Performance overview | 6 | ||
Chairman's message | 8 | ||
Managing Director's report | 10 | ||
Supporting our community | 12 | ||
Leadership Team | 14 |
OPERATING AND FINANCIAL REVIEW
Operating and financial review | 16 |
Bunnings | 28 |
Kmart Group | 34 |
Officeworks | 42 |
Chemicals, Energy and Fertilisers | 48 |
Industrial and Safety | 54 |
Other activities | 60 |
Group sustainability performance | 61 |
Climate-related financial disclosures | 68 |
Independent Limited Assurance Statement | 79 |
GOVERNANCE | Board of directors | 80 |
Corporate governance overview | 82 | |
DIRECTORS' | Directors' report | 87 |
REPORT | Remuneration report | 92 |
FINANCIAL | Financial statements | 117 |
STATEMENTS | Notes to the financial statements | 123 |
SIGNED | Directors' declaration | 165 |
REPORTS | Independent auditor's report | 166 |
SHAREHOLDER | Five-year financial history | 172 |
AND ASX | Shareholder information | 173 |
INFORMATION | Investor information | 174 |
Corporate directory | 175 | |
Wesfarmers businesses | 176 |
Wesfarmers 2020 Annual Report | 1 |
Overview
Group structure
Chemicals, | Industrial | Other | ||||||||||||||||||||
Bunnings | Kmart Group | Officeworks | Energy and | Corporate | ||||||||||||||||||
and Safety | activities | |||||||||||||||||||||
Fertilisers | ||||||||||||||||||||||
(4.9%)
(50%) | (50%) |
(50%) | (24.8%) |
(75%) | (50%) |
(50%)
2 Wesfarmers 2020 Annual Report
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Wesfarmers Ltd. published this content on 23 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 07:24:03 UTC