The EVT Ltd (ASX: EVT) share price is in focus today after the group posted a strong first quarter, showing normalised EBITDA up 17% to $72.5 million, and record results in its Hotels and Entertainment divisions.
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What did EVT report?
- Normalised Q1 EBITDA (ex-AASB 16): $72.5 million, up $10.7 million or 17% on pcp
- FY26 normalised revenue: $1.3 billion, up 6.3%
- FY26 normalised EBITDA: $174.4 million, up 8.4%
- Reported net profit after tax: $50.7 million, up $17.3 million (51.9%)
- Hotels delivered record EBITDA of $23.9 million in Q1; occupancy held at 80%
- Dividends: Total 41 cents per share fully franked in FY26, up 3 cents year on year
What else do investors need to know?
EVT's Entertainment division hit its second-highest first-quarter box office result ever, despite operating with fewer locations than before the pandemic. Admissions jumped 19%, with operating leverage driving a 171% increase in EBITDA for the division.
The Hotels segment continued to outperform the market, even as the prior period had benefited from major sporting events. EVT's strategic capital recycling program is underway, with proceeds from divestments supporting further Hotels growth, debt reduction, and potential special dividends.
EVT is growing its hotel pipeline in Australia, New Zealand, and South-East Asia. Upcoming openings include Atura Oran Park, QT Parramatta, and new properties in Fiji and Bangkok.
What's next for EVT?
Looking ahead, EVT expects continued EBITDA growth in FY27, underpinned by another anticipated record year for the Hotels division and a strong first half from major film releases like Avengers: Doomsday and Dune: Part Three. The company also aims to progress its capital recycling program and hotel growth strategy, with a particular focus on scaling its asset-light hospitality platform.
Thredbo's performance remains linked to weather, but management continues to invest in infrastructure to support its long-term value. EVT is reviewing group structure options to enhance shareholder value, with Hotels set as the cornerstone for future growth.
EVT share price snapshot
Over the past 12 months, EVT shares have risen 13%, outperforming the S&P/ASX 200 Index (ASX: XJO), which declined 3% over the same period.
