Savor (SVR) H2 2025 earnings summary

Executive summary

• Revenue declined 8% year-over-year to $56.6m due to reduced foot traffic, but customer spend per head remained stable.

• EBITDA was $7.3m, with a net extraction rate of 13%, only 1% below the prior year despite revenue drop.

• Net cash from operating activities increased 11% to $7.1m, reflecting efficient working capital management.

• Reported net loss of $1.2m, primarily due to a one-time fixed asset write-off from discontinued Seafarers operations.

• Strategic initiatives included venue optimization, successful Savor Food Festival, and upgrades at Non Solo Pizza.

Financial highlights

• Revenue: $56.6m (down from $61.9m in 2024).

• EBITDA: $7.3m (vs $8.8m in 2024); net extraction rate 13%.

• Net loss: $1.2m (vs $0.65m profit in 2024), mainly due to asset write-off.

• Net cash from operations: $7.1m (up from $6.4m in 2024).

• Borrowings reduced; net cash improved to $1.8m; net debt to operating earnings ratio below 1x.

Outlook and guidance

• Trading environment remains uncertain, but gradual relief in cost-of-living pressures is anticipated.

• Strategic investments and cost management position the group to capitalize on emerging opportunities.

• New entertainment venue in Britomart's Roukai Lane set to open in Spring 2025.

• Momentum from 2025 initiatives expected to drive performance into the summer season and beyond.