Woolworths CEO Roy Bagattini scored R80 million in remuneration in 2025 despite continued negative earnings growth for the group. <\/p>\n\n\n\n
For the financial year ended 30 June 2025, Bagattini received a base salary of R19.6 million and benefits of R4.7 million, with a guaranteed pay package of R24.3 million. <\/p>\n\n\n\n
Although he did not receive a performance bonus, he did receive R12 million in long-term incentives. This took his total remuneration to R36.5 million. <\/p>\n\n\n\n
However, this rose to R79.9 million when looking at his single-figure remuneration, a noticeable increase from the R65.3 million he earned last year. <\/p>\n\n\n\n
Single-figure remuneration takes a larger view of one\u2019s earnings, and includes the vesting of shares with performance conditions, and consists of any income attributable to unvested long-term share schemes. <\/p>\n\n\n\n
Bagattini was not the only executive to see an increase in single-figure remuneration, with the CEO of Woolworths Food, Sam Ngumeni, seeing his remuneration increase from R20.9 million to R26 million. <\/p>\n\n\n\n
Ngumeni became CEO of Woolworths Food Foods on 1 July 2024, having previously worked as the group\u2019s Chief Operating Officer. <\/p>\n\n\n\n
Group Finance Director Zaid Manjra saw his single-figure remuneration rise from R5.2 million in FY24 to R9.2 million in FY25. <\/p>\n\n\n\n
However, Manjra only took the role on 1 December 2023. His remuneration in the prior year was only for the seven months.<\/p>\n\n\n\n
The three executives earned a combined R115.1 million in single-figure remuneration in FY25, a massive increase from the R91.4 million paid a year prior. <\/p>\n\n\n\n The executive pay rise comes amid a poor performance from the group, which saw its profit drop on the back of challenges outside of its food business.\u00a0<\/p>\n\n\n\n The food business saw above-market turnover and concession sales growth of 11.0%, with sector-leading growth of 7.7% on a comparable-store basis.<\/p>\n\n\n\n The group\u2019s Fashion, Beauty and Home (FBH) segment saw turnover and sales increase by 4.7% and 5.1% on a comparable store basis, respectively.<\/p>\n\n\n\n Trading momentum improved throughout the year, with H2 sales growth of 7.0%. <\/p>\n\n\n\n That said, as part of its strategy to optimise space efficiency, net trading space for FBH decreased by 2.3% relative to the prior comparable period. <\/p>\n\n\n\n Promotional activity, additional supply chain challenges, and higher inventory levels led to the FBH gross profit margin declining by 120 basis points to 47.3%. <\/p>\n\n\n\n FBH\u2019s Adjusted EBITDA of R2,491 million was a decline of 0.4% against the prior comparable period, while adjusted EBIT declined by 9.1% to R1,600 million.<\/p>\n\n\n\n Matters were only made worse by Australia\u2019s Country Road Group (CRG), which is undergoing a massive restructuring. <\/p>\n\n\n\n The restructure looks to reconfigure the CRG operating model and reset its structural economics as a standalone business.<\/p>\n\n\n\n The transformation occurred amid high interest rates, low consumer footfall, and an uncertain macro backdrop. Within this context, sales for CRG dropped by 5.4% and 6.8% on a comparable-store basis. <\/p>\n\n\n\n CRG reported aEBITDA of A$103.9 million, a decline of 41.1% versus the prior comparable period, and an eEBIT loss of A$18.1 million. <\/p>\n\n\n\n This was on the back of a reassessment of the carrying value of the assets of the underperforming brands within CRG, with these brands impaired by R917 million. <\/p>\n\n\n\n With these issues, the group\u2019s earnings declined by 5.5% to 273.4 cents per share. Headline earnings per share also fell by 26.4% to 268.1 cents. <\/p>\n\n\n\n With the drop in earnings, the group\u2019s total dividend fell from 265.5 cents per share a year prior to just 188 cents per share.<\/p>\n\n\n\n Woolworths CEO Roy Bagattini has seen a R15 million pay rise despite the group’s profit taking a hit. <\/p>\n","protected":false},"author":95,"featured_media":794904,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[20489,949],"class_list":["post-836770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-country-road","tag-woolworths"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836770"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836770\/revisions"}],"predecessor-version":[{"id":845836,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836770\/revisions\/845836"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/794904"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Name<\/th> Year<\/th> Total guaranteed pay R\u2019000<\/th> Total remuneration R\u2019000<\/th> Single-figure remuneration (6) R\u2019000<\/th><\/tr><\/thead> Roy Bagattini<\/td> 2025<\/td> 24 290<\/td> 36 453<\/td> 79 881<\/td><\/tr> Zaid Manjra<\/td> 2025<\/td> 5 827<\/td> 11 689<\/td> 9 246<\/td><\/tr> Sam Ngumeni<\/td> 2025<\/td> 10 782<\/td> 21 812<\/td> 25 996<\/td><\/tr> Total 2025<\/strong><\/td> –<\/td> 40 899<\/strong><\/td> 69 954<\/strong><\/td> 115 123<\/strong><\/td><\/tr> Roy Bagattini<\/td> 2024<\/td> 21 917<\/td> 60 882<\/td> 65 296<\/td><\/tr> Zaid Manjra<\/td> 2024<\/td> 2 945<\/td> 5 720<\/td> 5 248<\/td><\/tr> Sam Ngumeni<\/td> 2024<\/td> 9 718<\/td> 21 309<\/td> 20 891<\/td><\/tr> Total 2024<\/strong><\/td> –<\/td> 34 580<\/strong><\/td> 87 911<\/strong><\/td> 91 435<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n Woolworths in pain <\/strong><\/h2>\n\n\n\n
Metric<\/strong><\/td> 2025<\/strong><\/td> 52\/52 on LY<\/strong><\/td> 52\/53 on LY<\/strong><\/td><\/tr> Turnover and concession sales<\/td> R81.0 billion<\/td> +6.1%<\/td> +4.2%<\/td><\/tr> Turnover<\/td> R79.5 billion<\/td> +5.8%<\/td> +3.9%<\/td><\/tr> Profit before tax<\/td> R3.0 billion<\/td> -14.4%<\/td> -17.8%<\/td><\/tr> Adjusted profit before tax<\/td> R3.7 billion<\/td> -18.4%<\/td> -21.0%<\/td><\/tr> Earnings per share<\/td> 273.4cps<\/td> -1.4%<\/td> -5.5%<\/td><\/tr> Headline earnings per share<\/td> 268.1cps<\/td> -23.9%<\/td> -26.4%<\/td><\/tr> Adjusted diluted headline earnings per share<\/td> 303.4cps<\/td> -19.2%<\/td> -21.6%<\/td><\/tr> Total dividend per share<\/td> 188.0cps<\/td> 265.5cps LY<\/td> <\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
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