EVT half year result overview

EVT Limited (ASX: $EVT) has announced its half year result for the period ending 31 December 2023. The company reported normalised revenue of $658.9 million, representing an 8.6% increase, while normalised EBITDA stood at $96.1 million, down 10.8%. Normalised profit after tax was $29.1 million, reflecting a decrease of 26.2%.

Executive commentary on EVT's half year result

In response to the announcement, EVT CEO Jane Hastings highlighted the growth achieved by the Hotels and Entertainment divisions, despite the adverse impact of severe weather conditions on Thredbo. She emphasized the company's ability to deliver solid results in challenging conditions and mitigate cost pressures, attributing the positive performance to consumer preference for experiential spending.

Summary of EVT's half year result and outlook

EVT's half year result showcased growth in the Hotels and Entertainment divisions, with the Thredbo segment being notably affected by adverse weather conditions. The company's CEO, Jane Hastings, expressed confidence in the future expansion of the Hotel division and the positive trends in the Entertainment segment. EVT also provided updates on its property portfolio and priority developments, indicating a positive outlook for continued growth. The company's trading outlook for the second half of the financial year reflects expectations of a record result in the Hotels division, while challenges in the Entertainment and Thredbo businesses are anticipated due to delayed film releases and weather impacts. EVT's Chairman, Alan Rydge, announced a fully franked interim dividend of 14 cents per share, reflecting the Board's confidence in the company's strategic initiatives for future growth.