Financial Report

Annual Report 2010

Wesfarmers

Creating value

Wesfarmers Limited ABN 28 008 984 049

The 200,000 people in our teams across our major business groupings of retail, industrial and insurance, reach millions of customers every day in every part of Australia and New Zealand, creating value for all our stakeholders, in particular, through generating satisfactory returns to our shareholders.

We continue to make a vitally important contribution to the communities in which we live and work and do it all in a way which is sensitive to the environment in which we operate.

Contents

Highlights and summary Chairman’s message Managing Director’s review Finance Director’s review Review of operations Retail highlights Coles Home Improvement and office Supplies 26 target 30 Kmart 2 4 6 10 12 16 18 22 34 Industrial and other businesses highlights 36 Resources 40 Insurance 44 Chemicals, energy and Fertilisers 48 Industrial and Safety 52 other activities 53 Sustainability 56 Board of Directors 58 Corporate governance statement 67 145 150 166 167 168 170 172 173 174 175 176 Financial statements Directors’ report Remuneration report 2010 (audited) Directors’ declaration Independent auditor’s report Annual statement of coal resources and reserves Shareholder information Five year financial history Investor information Glossary Group structure Corporate directory

Wesfarmers AnnuAl RepoRt 2010

1

Highlights and summary A strong performance with higher profits and increased dividends to shareholders

Results summary

Key financial data

Revenue earnings before interest and tax* net profit after tax (pre significant items)* net profit after tax* Dividends total assets* net debt Shareholders’ equity* Capital expenditure on property, plant and equipment and intangibles Depreciation and amortisation* $m $m $m $m $m $m $m $m $m $m 51,827 2,869 1,702 1,565 1,446 39,236 4,035 24,694 1,656 917 50,982 2,947 1,628 1,522 1,102 39,062 4,435 24,248 1,503 856

2010 2009

Key...