EVT (EVT) H2 2026 earnings summary

Executive summary

• Revenue grew 6.3% and EBITDA increased 8.4% year-over-year, with all divisions contributing to growth and underlying costs well controlled.

• Net profit after tax rose to AUD 50.7 million, up 51.9% year-over-year, driven by improved business performance.

• Strategic focus is on hotel growth, capital recycling, and asset-light expansion, including a $800 million non-core property divestment and independent review of group structure.

• Board declared a fully franked final dividend of AUD 0.23 per share, up 4.5%.

Financial highlights

• Group normalized revenue reached AUD 1,314.9 million, up 6.3% year-over-year.

• Group normalized EBITDA was AUD 174.4 million, up 8.4% year-over-year.

• Reported NPAT was AUD 50.7 million, up 51.9% year-over-year; normalized profit after tax was AUD 54.3 million, up 41.3%.

• Net debt at June 30 was AUD 476.1 million; debt facility renewed for three years with a AUD 750 million limit.

• Fully franked dividend of AUD 0.23 per share declared.

Outlook and guidance

• Positive FY2027 outlook with expected EBITDA growth in hotels and entertainment, subject to market, film slate, and weather conditions.

• Hotels expected to deliver another record year, with incremental EBITDA from new and redeveloped properties and ~$13 million contribution from new initiatives.

• Entertainment anticipates a strong first half, with a robust film slate and further benefits from premiumization and site rationalization.

• Thredbo's full-year result will depend on winter and summer weather; EBITDA expected to be below FY26 due to conditions.