EVT H1 revenue up 28% on hotel, cinema growth
EVT (ASX:EVT) has reported a robust performance for the first half of FY26, underscored by growth in revenue and profit compared to the previous period.
The group's normalised revenue rose 5.4% to $683.8 million, while normalised profit after tax rose 28.5% to $40.5 million.
The momentum allowed the company to declare an interim dividend of 18 cents per share.
The Hotels division emerged as a primary growth engine, achieving revenue and a 15.6% increase in underlying EBITDA.
The success was bolstered by high-profile events like the Lions rugby tour and the acquisition of Pro-invest Hotels.
Despite temporary interruptions at properties like QT Gold Coast, the segment’s "third pillar" strategy—EVT Connect Hospitality—is successfully expanding the company's long-term platform.
In the entertainment sector, EVT’s “fewer, better” cinema strategy yielded results, including a dominant 48% market share for Avatar: Fire and Ash.
This contributed to a 54.1% increase in EBITDA, demonstrating strong operating leverage when high-quality film supply meets audience demand.
Additionally, the Thredbo alpine resort saw a 30.8% EBITDA jump thanks to favourable winter conditions.
CEO Jane Hastings expressed confidence in the second half of the year, citing a strategy focused on "capital recycling" from non-core property assets to reinvest in high-return hotel opportunities.
At the time of reporting, EVT's share price was $13.40.
