Coles Group Ltd (ASX:COL)

A$ 16.42 0.28 (1.73%) Market Cap: 21.62 Bil Enterprise Value: 29.92 Bil PE Ratio: 20.96 PB Ratio: 6.17 GF Score: 64/100

Coles Group Ltd Conference Call Transcript

Sep 21, 2022 / NTS GMT

Release Date Price: A$16.6 (-0.90%)

Transcript

Operator

Thank you for standing by, and welcome to the Coles Group Conference Call. (Operator Instructions) I would now like to hand the conference over to Mr. Steven Cain, Coles Group CEO. Please go ahead.

Steven Cain

Coles Group Limited - MD, CEO & Director

Okay. Good morning, everybody. I'm joined by Charlie Elias today, our CFO. We've obviously announced that we've agreed to sell our fuel and convenience business, Coles Express to Viva Energy this morning, which will lead to an early conclusion of our alliance agreement, which was scheduled to end in 2029. As you'd have seen, there's only 2 requirements. One is ACCC approval and the other one relating to FIRB, which we would normally expect in the first half of calendar 2023. From our perspective, we think this is a win-win for both businesses. From a Coles point of view, clearly, we wanted to make sure there was a great deal of certainty for the business and for the team going forward with regards to future investment. And it obviously means that we'll be able to focus more of our effort on driving our omnichannel

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