Full Year 2026 EVT Ltd Earnings Call Transcript
Key Points
- Group revenue grew 6.3% and EBITDA grew 8.4%, with growth across all divisions.
- Hotels division delivered a record result with record RevPAR, up 2.8% to $184, and strong brand performance.
- Entertainment division saw strong EBITDA growth of 45.8%, driven by a better film slate and the 'fewer better' strategy.
- Connect Hospitality is performing at the upper end of guidance, with RevPAR up 11% and gross operating profit up 20%.
- AI initiatives are being embedded across operations, including agentic commerce and direct booking channels, to drive efficiency and customer acquisition.
- Middle East crisis impacted hotel performance in the second half, with softer demand in key areas.
- QT Queenstown and LyLo Gold Coast development projects will reduce FY27 EBITDA by around $4 million due to delays and disruption.
- Thredbo's independent valuation decreased significantly from $292 million to $143 million, reflecting poor winter conditions and required capital investment.
- Entertainment division faces ongoing lease exit costs, with around 13 more locations to exit or renegotiate over the next three years.
- Thredbo's FY27 EBITDA is tracking below prior year due to a lack of natural snow, with uncertainty over winter conditions.
Thank you for standing by and welcome to the EVT Limited year end results. (Operator Instructions)
I would now like to hand the conference over to Ms. Jane Hastings, CEO. Please go ahead.
Thank you. Hi, everyone. Thanks for joining the call today. Before we get started, I'd like to acknowledge the traditional custodians of the land I'm speaking to you from today, the Gadigal people of the Eora Nation. I'd like to pay my respects to elders past and present, and I'd like to acknowledge any and all Aboriginal and Torres Strait Islander people joining us today.
Financial year '26 was a year of earnings growth and strategic progress. On group performance, revenue grew 6.3% and EBITDA grew 8.4% on prior year with growth across all operating divisions. Despite cost headwinds, underlying costs remain well managed and only marginally above pre-COVID levels. Net debt at June 30 was $476.1 million and our debt facility was renewed in March for a further three years
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