Wesfarmers (WES) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a Welcome to Country and acknowledgment of traditional owners, followed by introductions of the board, executives, and procedural instructions for hybrid participation and voting.

• The Chairman confirmed a quorum, outlined the agenda, and recognized retiring and new board members.

Financial performance review

• Reported a record net profit after tax (excluding significant items) of $2.7 billion, up 3.8% year-on-year.

• Fully franked dividends increased to $2.06 per share, up 4%.

• Bunnings, Kmart Group, Officeworks, and Health divisions saw profit growth, while Chemicals, Energy & Fertilisers and Industrial & Safety declined due to commodity prices and restructuring.

• $1.50 per share additional distribution proposed, enabled by asset disposals including Coles and Coregas.

Board and executive committee updates

• Three directors (Mike Roche, Sharon Warburton, Julie Coates) stood for re-election/election; Jennifer Westacott retired.

• Ken MacKenzie announced as incoming chairman from June 2026.

• Internal promotions and leadership transitions highlighted, including new MDs for Kmart, WesCEF, Officeworks, and OneDigital.