Endeavour Group (EDV) investor relations material

Executive summary

• Group revenue remained stable at $12.1 billion, with strong Hotels momentum offsetting softness in retail liquor sales and subdued consumer spending.

• Hotels sales grew 4.1% year-over-year, while Retail sales declined 1.2% due to supply chain issues and lower consumer demand.

• Net profit after tax was $426 million, down 15.8% year-over-year, mainly due to lower retail performance and $11 million in post-tax restructuring costs.

• $75 million in cost savings achieved from the Endeavour Go program in FY25, with $265 million cumulative since FY22.

• Strategy refresh underway, with outcomes to be shared in the second half of the year and a new CEO commencing January 2026.

Financial highlights

• Group sales were $12.1 billion, flat year-over-year on a 52-week basis; hotel sales up 4.1%, retail sales down 1.2%.

• Group operating EBIT (excluding One Endeavour program) fell 7.3% to $1.0 billion, with hotel EBIT growth offset by retail decline.

• Net profit after tax was $426 million, down 15.8% year-over-year.

• Operating cash flow was $1.2 billion, with a cash realisation ratio of 110%.

• Fully franked final dividend of 6.3¢ per share, totaling 18.8¢ for the year (79% payout ratio).

Outlook and guidance

• Retail liquor market expected to improve as inflation moderates and real wages rise.

• Focus on flawless execution during key event-driven trading periods in the first half of FY26.

• Strategy refresh outcomes to be shared in the second half of the year.

• FY26 capex guidance: $420 million–$470 million, including $90 million–$110 million for One Endeavour program.

• One Endeavour program costs to step down in FY26, with further cost reductions expected as ERP implementation accelerates.