Half Year 2025 Endeavour Group Ltd Earnings Call Transcript
Key Points
- Endeavour Group Ltd (EDVGF) delivered stable revenue and strong cash flow despite a challenging economic environment.
- The company achieved strong December trading in retail, even amidst significant supply chain disruptions.
- Sales momentum increased across food, bars, gaming, and accommodation in the hotels segment.
- The Endeavour Go program delivered $40 million in savings, partially offsetting inflationary pressures.
- The company declared a fully franked interim dividend of $0.12 per share, representing a payout ratio of 75% of statutory impact.
- Retail was impacted by supply chain disruptions, resulting in an estimated $40 million to $50 million of lost sales.
- Operating EBIT fell 6.6% overall, with growth in hotels offset by a decline in retail due to lower sales and higher costs.
- Net profit after tax declined 15.1% year on year.
- Retail sales declined by 1.5% in H1, reflecting subdued consumer spending and supply chain issues.
- The company's leverage ratio remains at 3.2 times, indicating a need for continued focus on debt management.
Thank you. Good morning, everyone. Thanks for joining us today for Endeavor Group's half year 2025 results announcement. I'm Steve Donahue, managing director and CEO of Endeavour Group, and I'm joined today by our Chief Financial Officer, Kate Beattie.
I'd like to begin today by acknowledging the Gadigal people as traditional custodians of the land we're presenting from today and pay my respects to their elders past, present, and emerging.
I'll start today on slide 5 and the group's H1 highlights. Despite a challenging economic environment, the group delivered stable revenue and strong cash flow in the first half.
In retail, we had strong December trading, even with the significant supply chain disruptions. And I want to say a big thank you to our customers for their patience and to our suppliers for their outstanding support through that challenge.
In hotels, sales momentum increased across food, bars, gaming, and accommodation.
Our hotel renewals and
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