WOOLWORTHS HOLDINGS LIMITED - Further trading statement: 26 weeks ended 24 December 2017

Further trading statement: 26 weeks ended 24 December 2017

Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
Share code: WHL
ISIN: ZAE000063863
(the Group)

FURTHER TRADING STATEMENT: 26 WEEKS ENDED 24 DECEMBER 2017

Shareholders are referred to the announcement released on the Stock Exchange News Service
(SENS) on 15 January 2018, wherein the Group advised that earnings per share (EPS) for the 26
weeks ended 24 December 2017 are expected to be more than 20% (69.0 cents) lower than the
345.1 cents reported for the 26-week period ended 25 December 2016 (the prior period).

The re-assessment of the carrying value of the David Jones assets has now been completed and a
non-cash impairment charge of A$712.5m will be recognised. This reflects the cyclical downturn and
structural changes that have impacted performance across the Australian retail sector. The impact of
these changes has been exacerbated by poor or delayed execution in certain key initiatives. The
Board remains committed to the transformation of David Jones, the resolution of executional issues
and will continue to invest in the business.

After considering the re-assessment of the carrying value of the David Jones assets and the impact
of the A$172.6m profit on disposal of the David Jones Market Street property in the prior period, EPS
growth for the 26-week period ended 24 December 2017 is now expected to be within the range
reflected in the table below:

                          December 2016          December 2017 expected                      2017
                               reported                    growth range            expected range
                                (cents)                             (%)                   (cents)
EPS                               345.1              -240.0% to -250.0%          -483.1 to -517.7

The guidance provided for headline earnings per share (HEPS) and adjusted diluted HEPS, for the
26-week period ended 24 December 2017, as reported on SENS on 15 January 2018, remains
unchanged at:

                          December 2016          December 2017 expected                      2017
                               reported                    growth range            expected range
                                (cents)                             (%)                   (cents)
HEPS                              242.6                -12.5% to -17.5%            200.1 to 212.3
Adjusted diluted HEPS             244.9                 -7.5% to -12.5%            214.3 to 226.5

The estimated financial information contained in this announcement has not been audited, reviewed
or reported upon by the Group’s external auditors.

The Group’s interim results for the 26-week period ended 24 December 2017 are scheduled to be
announced on SENS on or about 22 February 2018.


Contact:
Reeza Isaacs (Group Finance Director) on 021 407 2464
Ralph Buddle on 021 407 3250
InvestorRelations@woolworths.co.za

Cape Town
24 January 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)




                                              

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