Full Year 2025 Endeavour Group Ltd Earnings Call Transcript
Key Points
- Endeavour Group Ltd (EDVGF) delivered stable revenue with strong momentum in the hotels segment, offsetting softness in the retail liquor market.
- The company achieved a $187 million reduction in net debt, supported by strong cash flow of over $1.1 billion and continued capital discipline.
- The endeavourGO program delivered $75 million in savings during F '25, bringing cumulative savings to $265 million since F '22.
- Hotel sales grew by 4.1% on a comparable 52-week basis to $2.1 billion, with sales momentum increasing in the second half.
- The company declared a fully franked final dividend of $0.063 per share, representing a full year payment of $0.188 per share or 79% of net profit after tax.
- Retail sales declined by 1.2% on a 52-week basis, reflecting challenging retail liquor market conditions and supply chain disruptions.
- Operating EBIT fell 7.3% overall, with growth in hotels offset by a decline in retail due to operating deleverage from lower sales and cost inflation.
- The net profit after tax of $426 million declined 15.8% versus last year on a 52-week basis, largely due to lower retail performance and restructuring costs.
- The leverage ratio of 3.6 times was slightly above the target range of 3 to 3.5 times, driven by reduced earnings and one-off restructuring costs.
- Retail experienced subdued consumer spending outside of key social occasions, impacting overall sales momentum.
Thank you for standing by, and welcome to Endeavour Group's Full Year 2025 Results Briefing. (Operator Instructions) I'd now like to hand the conference over to Kate Beattie, CEO. Please go ahead.
Thank you. Good morning, everybody. Thank you for joining us today for Endeavour Group's Full Year 2025 Results Presentation. I'm Kate Beattie, CEO of Endeavour Group, and I'm joined today by our Chief Financial Officer, Tali Ross. I'd like to begin today by acknowledging the Gadigal people as the traditional custodians of the land from which we're presenting and pay my respects to their elders, past, present and emerging.
I'll begin today on slide 5 and the group's F '25 highlights. I will flag upfront that comparatives are stated on a 52-week basis, given last year was a 53-week year and so had a noncomparable additional week. Overall, Endeavour delivered stable revenue with strong momentum in hotels, offsetting softness in the retail liquor market. In hotels, we saw good momentum in a
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