Woolworths : Appendix 4D and Half-Year Financial Report

For personal use only

23 February 2022

ASX Market Announcements Offce

Australian Securities Exchange

20 Bridge Street

Sydney NSW 2000

Appendix 4D and Half-Year Financial Report

Attached for release to the market are the ASX Appendix 4D and the F22 Half-Year

Financial Report for the period ended 2 January 2022.

Authorised by: Kate Eastoe, Group Company Secretary

For further information contact

Investors and analysts	Media
Paul van Meurs	Woolworths Press Offce
Head of Investor Relations	[e-mail]
[phone]	[phone]

Woolworths Group Limited ABN 88 000 014 675

1 Woolworths Way, Bella Vista NSW 2153

For personal use only

Appendix 4D

under ASX Listing Rule 4.2A

Current reporting period	28 June 2021 to 2 January 2022
Prior corresponding period	29 June 2020 to 3 January 2021

Results for announcement to the market

Key information

	% CHANGE		$M
Total revenue from continuing operations	8.0	to	31,894
Profit from continuing operations after tax attributable to equity holders of the
parent entity	(20.6)	to	676
Profit attributable to equity holders of the parent entity	522.0	to	7,063
Details relating to dividends 1
	CENTS PER SHARE		$M
2021 final dividend paid on 8 October 2021	55		697
2022 interim dividend declared on 23 February 2022 2,3	39		4734

1. All dividends are fully franked at a 30% tax rate.
2. Record date for determining entitlement to the 2022 interim dividend is 4 March 2022.
3. The 2022 interim dividend is payable on or around 13 April 2022, and is not provided for at 2 January 2022.
4. Represents the anticipated dividend based on the shares on issue at the date of this report. This value will change if there are any shares issued between the date of this report and the ex-dividend date.

The Dividend Reinvestment Plan (DRP) remains active. Eligible shareholders may participate in the DRP in respect of all or part of their shareholding. There is currently no DRP discount applied and no limit on the number of shares that can participate in the DRP.

Shares will be allocated to shareholders under the DRP for the 2022 interim dividend at an amount equal to the average of the daily volume weighted average market price of ordinary shares of Woolworths Group Limited traded on the Australian Securities Exchange (ASX) over the period of 10 trading days commencing on 8 March 2022. The last date for receipt of election notices for the DRP is 7 March 2022. The Company intends to issue new shares to satisfy its obligations under the DRP.

Net tangible assets per share

		AS AT
	2 JANUARY 20221	27 JUNE 2021	3 JANUARY 2021
	CENTS PER SHARE	CENTS PER SHARE	CENTS PER SHARE
Net tangible assets per share	21.2	(563.0)	127.5

1 The net assets position of the Group substantially improved during the half-year ended 2 January 2022 as the Group derecognised the $7,870 million demerger distribution liability, which related to the distribution of Endeavour shares to shareholders, and was included in the net tangible assets per share calculation as at 27 June 2021.

Details of subsidiaries, associates and joint ventures

Entities where control was gained or lost

During the half-year ended 2 January 2022, the Group gained control of the following entities: PFD Food Services Pty Ltd (28 June 2021), Wpay New Zealand Limited (22 September 2021), Metro 60 Pty Limited (29 October 2021), and Grand Horizons Pty Ltd (3 November 2021).

On 28 June 2021, the Group lost control of Endeavour Group Limited and its subsidiaries.

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WoolworthsAppendix 4D Limited Group

Appendix 4D

under ASX Listing Rule 4.2A

only	Details of associates and joint ventures
	LEGAL OWNERSHIP INTEREST AS AT
		2 JANUARY 2022	27 JUNE 2021	3 JANUARY 2021
	Pet Culture Group Pty Limited 1	57.6%	60.0%	60.0%
	173 Burke Rd JV Pty Ltd 1	50.1%	50.1%	50.1%
	NP Fulfilment Group Pty Limited	40.0%	-	-
	Samsara Eco Pty Ltd	25.0%	25.0%	-
	B & J City Kitchen Pty Ltd	23.0%	23.0%	23.0%
use	Sherpa (Aust) Pty Ltd	20.8%	20.8%	20.8%
FutureFeed Pty Ltd	20.4%	20.4%	20.4%
Endeavour Group Limited 2	14.6%	85.4%	85.4%
	1 Notwithstanding that the Group's ownership interest in this entity is greater than 50%, the Group does not control this entity
	as the decisions about the relevant activities of the entity require the unanimous consent of both parties sharing control.
	The Group classifies this entity as an investment in joint venture and applies the equity method of accounting.
	2 On 28 June 2021, following the Endeavour Group demerger, the Group's interest in this entity reduced from 85.4% to 14.6%.
	As a result, the Group lost control of this entity and it is no longer considered to be a subsidiary of the Group. The Group classifies
	this entity as an investment in associate and applies the equity method of accounting.
personalFor	Other

Additional Appendix 4D disclosure requirements and further information, including commentary on significant features of the operating performance, results of segments, trends in performance, and other factors affecting the results for the current period are contained in the Half-Year Financial Report 2022, and Press Release (F22 Half-Year Profit and Dividend Announcement).

The Consolidated Financial Statements contained within the Half-Year Financial Report 2022, upon which this report is based, have been reviewed by Deloitte Touche Tohmatsu.

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WoolworthsAppendix 4D Limited Group

For personal use only

Half-Year

Financial Report 2022

Woolworths Group Limited

ABN 88 000 014 675

Half-Year Financial Report 2022

Table of Contents

only	Directors' Report	2
Auditor's Independence Declaration	3
	Consolidated Financial Statements
	Consolidated Statement of Profit or Loss	4
	Consolidated Statement of Other Comprehensive Income	5
	Consolidated Statement of Financial Position	6
	Consolidated Statement of Changes in Equity	7
use	Consolidated Statement of Cash Flows	8
Condensed Notes to the Consolidated Financial Statements
	1
	General information
		1.1	Basis of preparation	9
		1.2	Statement of compliance	9
		1.3	New and amended standards adopted by the Group	9
personal		1.4	Critical accounting estimates and judgements	10
	1.5	Financial reporting impacts of COVID-19	11
	1.6	Individually significant items	12
	2
	Revenue from the sale of goods and services from continuing operations	13
	3
	Finance costs from continuing operations	13
	4
	Segment disclosures from continuing operations	13
	5
	Cash and cash equivalents	15
	6
	Investments accounted for using the equity method	16
	7
	Borrowings	17
	8
	Dividends		18
	9
For	Contributed equity	18
10
Commitments for capital expenditure	19
	11
	Acquisition of subsidiary	19
	12
	Discontinued operations	21
	13
	Contingent liabilities	22
	14
	Subsequent events	22
	Directors' Declaration	23
	Independent Auditor's Review Report	24

1

WoolworthsHalf Year-

GroupFinancial 2022 Report