Other businesses

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Coles

Coles is a leading Australian retailer which sells everyday products including fresh food, groceries, household goods, liquor, fuel and financial services via its national store networks and online platforms. In November 2018, the Coles division was demerged from the Wesfarmers Group, and Coles Group Limited was subsequently listed on the Australian Securities Exchange. Following the listing of Coles, Wesfarmers retained 15 per cent of Coles’ total shares on issue. During the 2020 financial year, the Group sold 10.1 per cent of its investment in Coles through two separate transactions, recording a pre-tax gain on sale of $290 million and a further pre-tax gain of $220 million on revaluation of the Group’s interest in Coles. As at 30 June 2020, the Group held a 4.9 per cent (2019: 15.0 per cent) interest in Coles through a wholly-owned subsidiary, Wesfarmers' Retail Holdings Pty Ltd. For more information on Coles’ performance during the year, please visit www.colesgroup.com.au.

flybuys

Wesfarmers owns a 50 per cent shareholding in leading loyalty and data company flybuys, with Coles Group Limited holding the other 50 per cent. Formerly part of Coles, following the demerger in November 2018 the flybuys business was set up as an independent, standalone business. As at 30 June 2020, there were 6.8 million active households in the flybuys loyalty scheme. For more information on flybuys, please visit www.flybuys.com.au

BWP Trust

Wesfarmers’ investment in the BWP Trust (the Trust) contributed earnings of $52 million, compared to $42 million last year. The Trust was established in 1998 with a focus on large format retailing properties and, in particular, properties leased to Bunnings. BWP Management Limited, the responsible entity for the Trust, is a wholly-owned subsidiary of Wesfarmers Limited. Units in the Trust are listed on the Australian Securities Exchange and Wesfarmers holds, through a wholly-owned subsidiary, 24.8 per cent of the total units issued by the Trust as at 30 June 2020. The Trust’s portfolio as at 30 June 2020 consisted of a total of 75 properties. For more information on the Trust, please visit www.bwptrust.com.au

Gresham Partners

Wesfarmers has a 50 per cent shareholding in Gresham Partners Group Limited, the holding company for the Gresham Partners operations. Gresham is a leading independent financial services business with activities in corporate advisory, funds management, property, and capital solutions. For more information on Gresham Partners, please visit www.gresham.com.au

Wespine Industries

The 50 per cent-owned Wespine Industries (Wespine) operates a plantation softwood sawmill in Dardanup, Western Australia. Wespine manufactures structural timber used in the construction industry along with landscaping, packaging and other timber products. Despite Western Australian housing approvals remaining at near 20-year lows, Wespine recorded timber sales of $95.7 million for the 2020 financial year, in line with the prior year. Performance was driven by the supply of additional volumes to customers in the eastern states on a lower overall contribution margin. Wespine’s recordable injuries declined slightly during the period reflecting the high level of focus which continues to be a priority for management. For more information on Wespine Industries, please visit www.wespine.com.au

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