EVT (EVT) AGM 2024 summary

Opening remarks and agenda

• Acknowledgement of traditional land owners and welcome to shareholders, both in-person and online.

• Confirmation of quorum and introduction of board members and senior executives.

• Outline of meeting procedures, hybrid format, and voting process, with all resolutions decided by poll.

Financial performance review

• Group net profit after tax was AUD 4.8 million; normalized result after tax was AUD 34.1 million.

• Underlying group revenue grew 4% to AUD 1.221 billion; normalized EBITDA was AUD 151.3 million, down AUD 35.7 million.

• Hotels division achieved record revenue (AUD 407.4 million, up 15.5%) and EBITDA (AUD 101.5 million, up AUD 14.1 million).

• Entertainment revenue was AUD 714.8 million; EBITDA down due to inconsistent film lineup post-Hollywood strikes.

• Thredbo revenue down 18.9% due to poor weather; EBITDA down AUD 20.1 million.

• One-off, non-cash AUD 26.9 million tax adjustment impacted NPAT; prior year included AUD 47 million after-tax benefit from property sales.

• Net debt at June 30 was AUD 304.1 million; cash balance AUD 106.4 million, debt outstanding AUD 410.5 million.

Dividend announcements

• Total dividends for the year were AUD 0.34 per share, fully franked, consistent with the prior year (excluding 2022 special dividend).

• Dividend policy considers capital requirements for growth and continuity of earnings.