Evt Limited · ASX:EVT
Evt — Event Hospitality & Entertainment — H1 2017 Earnings Presentation
35 slides from Evt's earnings presentation, Feb 17, 2017
Slide 1: Half Year (31 December 2016) Results Presentation
For personal use only EVENT HOSPITALITY & ENTERTAINMENT LIMITED Half Year (31 December 2016) Results Presentation Date: 17 February 2017 Further information ASX Company Security Code: EVT Telephone: +61 2 9373 6600 Contact: David Seargeant (Group Managing Director) David Stone (Company Secretary)
Slide 2: Results summary
Results summary 31 Dec 2016 31 Dec 2015 31 Dec 2014 31 Dec 2013 Total revenue and other income (million) $656.074 $661.064 $570.534 $568.528 For personal use only Profit for the half year (million) $59.382 $76.752 $51.190 $46.240 Profit before individually significant items (million) $61.053 $76.752
Slide 3: Results by segment
31 Dec 16 31 Dec 15 Movement 31 Dec 14 31 Dec 13 Results $’000 $’000 $’000 Movement $’000 $’000 Cinema Entertainment – Australia 33,008 38,701 (5,693) (14.7)% 26,128 28,587 For personal use only Cinema Entertainment – New Zealand 4,361 4,300 61 1.4% 3,030 1,962 Cinema Entertainment – Germany 13,736
Slide 4: Business operations update: Cinema Entertainment – Australia
Business operations update Cinema Entertainment – Australia 73 sites (including joint operation sites) For personal use only 674 screens (including 531 traditional, 84 Gold Class, 57 Vmax and 2 Drive In screens) The normalised profit before interest and income tax expense was $33,008,000, a decrease
Slide 5: Cinema Entertainment – Australia (continued)
Cinema Entertainment – Australia (continued) The normalised profit for the half year period was also impacted by a number of other factors including: • new or refurbished sites that have recently opened and which are currently in the initial establishment phase and yet to attain an For personal use
Slide 6: Cinema Entertainment – Australia (continued)
Cinema Entertainment – Australia (continued) The new GU Film House Adelaide located in Hindley Street opened in September 2016. The six-screen cinema, including two Vmax screens featuring the latest Dolby Atmos immersive audio, exhibits a broader film line up which includes art house films. In addit
Slide 7: Business operations update: Cinema Entertainment – New Zealand
Business operations update Cinema Entertainment – New Zealand (including Fiji) 21 sites (including joint operation sites) For personal use only 138 screens (including 134 traditional, 2 Gold Class, 1 Vmax and 1 IMAX screens) The normalised profit before interest and income tax expense was $4,361,000
Slide 8: Cinema Entertainment – New Zealand (continued)
Cinema Entertainment – New Zealand (continued) The Group acquired the Downtown Cinemas circuit on 28 July 2016 for NZ$7.65 million and the circuit contributed a total of NZ$2,231,000 in box office revenue and NZ$151,000 in earnings over the half year period. The circuit includes a total of 15 screen
Slide 9: Business operations update: Cinema Entertainment – Germany
Business operations update Cinema Entertainment – Germany 53 sites (including two 50% joint venture sites) For personal use only 411 screens (including 409 traditional and 2 IMAX screens) The normalised profit before interest and income tax expense was $13,736,000, a decrease of $12,707,000 or 48.1%
Slide 10: Cinema Entertainment – Germany (continued)
Cinema Entertainment – Germany (continued) The average customer spend (including admission price and merchandising spend) was consistent with the prior comparable half year period and the continued focus on the various cost structures achieved commendable results despite the fall in the level of adm
Slide 11: Business operations update: Hotels and Resorts
Business operations update Hotels and Resorts (Rydges Hotels and Resorts, QT Hotels and Resorts and Atura Hotels) 25 owned hotels (3,601 rooms) | 33 managed hotels (5,640 rooms) For personal use only Total = 58 hotels (9,241 rooms) The normalised profit before interest and income tax expense was $24
Slide 12: Hotels and Resorts (continued)
Hotels and Resorts (continued) Despite the short term refurbishment and redevelopment disruption, demand for the Group’s hotels in Melbourne, Sydney, Cairns, Queenstown and Rotorua continued to be underpinned by strengthening inbound activity and corporate and conference business. A softening of tra
Slide 13: Thredbo Alpine Resort
Thredbo Alpine Resort The normalised profit before interest and income tax expense was $20,469,000, an increase of $2,030,000 or 11.0% above the prior comparable half year. For personal use only The 2016 snow season experienced a late start resulting in compressed demand, however there was a total o
Slide 14: Property and available-for-sale assets
Property and available-for-sale assets The normalised profit before interest and income tax expense was $7,459,000, an increase of $4,451,000 or 148.0% above the prior comparable half year. The improved result was primarily driven by the following: For personal use only • profit totalling $1,984,000
Slide 15: Current cinema development pipeline
Current cinema development pipeline Screens Location Opening Type of operation Lease term Total Gold Class Vmax Traditional For personal use only Smithfield Cairns QLD 2017 100% 20 years 6 – 1 5 Palmerston Darwin NT 2017 50% joint operation 15 years 6 – 2 4 Whitford WA 2017 50% joint operation 20 ye
Slide 16: Current development pipeline (continued): Hotels
Current development pipeline (continued) Hotels • QT Queenstown For personal use only o Demolition of the back wing of Rydges Queenstown and the construction of a 69 room QT hotel o Rydges Queenstown continues to trade o QT Queenstown is expected to open in 2017 Above: QT Queenstown (Artist’s impres
Slide 17: Current development pipeline (continued): Hotels
Current development pipeline (continued) Hotels (continued) • Atura Adelaide Airport For personal use only o New 165-room hotel development at Adelaide Airport o Construction to begin in 2017 o Expected to open late 2018 Above: Atura Adelaide Airport (Artist’s impression of the development)
Slide 18: Recently completed developments
Recently completed developments For personal use only • QT Melbourne o Completed September 2016 o 188 room QT hotel o 24 apartments on the top two levels, of which 21 were sold in the half year ended 31 December 2016 (profit of $1,984,000)
Slide 19: Recent acquisitions
Recent acquisitions • Mercure Hotel Geelong o Contracts exchanged for purchase of the Mercure Hotel Geelong for $24.2 million, For personal use only to be rebranded as Rydges Geelong o Expected to settle in March 2017 • Neumünster, Germany o Freehold retail property acquired for €7.1 million (A$10.3
Slide 20: Capital Expenditure and Dividend History
Capital Expenditure The annual routine capital expenditure for the Group is expected to total approximately $35 million. For personal use only Routine capital expenditure excludes any capital expenditure relating to significant developments or acquisitions. Dividend History A summary of the dividend
Slide 21: Upcoming film line-up
Upcoming film line-up LOGAN (MARCH 2017) DISTRIBUTOR: FOX For personal use only SYNOPSIS: In the near future, a weary Logan cares for an ailing Professor X in a hide out on the Mexican border. But Logan's attempts to hide from the world and his legacy are up-ended when a young mutant arrives, being
Slide 22: Upcoming film line-up (continued)
LIFE (MARCH 2017) DISTRIBUTOR: SONY SYNOPSIS: An international space crew discovers life on Mars. For personal use only STARS: Jake Gyllenhaal, Ryan Reynolds, Rebecca Ferguson DIRECTOR: Daniel Espinosa THE LEGO BATMAN MOVIE (APRIL 2017) DISTRIBUTOR: ROADSHOW SYNOPSIS: A spin-off of The Lego Movie (2
Slide 23: Upcoming film line-up (continued)
THE FATE OF THE FURIOUS (APRIL 2017) DISTRIBUTOR: UNIVERSAL SYNOPSIS: When a mysterious woman seduces Dom into the world of crime and a betrayal of those closest to him, the For personal use only crew face trials that will test them as never before. STARS: Scott Eastwood, Jason Statham, Dwayne Johns
Slide 24: Upcoming film line-up (continued)
SNATCHED (MAY 2017) DISTRIBUTOR: FOX SYNOPSIS: When her boyfriend dumps her, Emily, a spontaneous woman in her 30s, persuades her ultra-cautious mom to For personal use only accompany her on a vacation to Ecuador. At Emily's insistence, the pair seek out adventure, but suddenly find themselves kidna
Slide 25: Upcoming film line-up (continued)
DESPICABLE ME 3 (JUNE 2017) DISTRIBUTOR: UNIVERSAL SYNOPSIS: Balthazar Bratt, a child star from the 1980s, hatches a scheme for world domination. For personal use only STARS: Steve Carell, Miranda Cosgrove, Diane Keaton DIRECTOR: Kyle Balda, Pierre Coffin BAYWATCH (JUNE 2017) DISTRIBUTOR: PARAMOUNT
Slide 26: Upcoming film line-up (continued)
CARS 3 (JUNE 2017) DISTRIBUTOR: DISNEY SYNOPSIS: Lightning McQueen sets out to prove to a new generation of racers that he's still the best race car in the world For personal use only STARS: Owen Wilson DIRECTOR: Brian Fee TRANSFORMERS: THE LAST KNIGHT (JUNE 2017) DISTRIBUTOR: PARAMOUNT SYNOPSIS: Hu
Slide 27: Upcoming film line-up (continued)
WAR FOR THE PLANT OF THE APES (JULY 2017) DISTRIBUTOR: FOX SYNOPSIS: A nation of genetically evolved apes led by Caesar becomes embroiled in a battle with an army of humans. For personal use only STARS: Woody Harrelson, Judy Greet, Andy Serkis DIRECTOR: Matt Reeves DUNKIRK (JULY 2017) DISTRIBUTOR: R
Slide 28: Upcoming film line-up (continued)
THE HITMAN’S BODYGUARD (AUGUST 2017) DISTRIBUTOR: TBC SYNOPSIS: The world's top bodyguard gets a new client, a hit man who must testify at the International Court of Justice. For personal use only They must put their differences aside and work together to make it to the trial on time. STARS: Ryan Re
Slide 29: Upcoming film line-up (continued)
THE LEGO NINJAGO MOVIE (SEPTEMBER 2017) DISTRIBUTOR: ROADSHOW SYNOPSIS: Six young ninjas tasked with defending their island home, called Ninjago. By night, they're gifted warriors, using For personal use only their skills and awesome fleet of vehicles to fight villains and monsters STARS: Dave Franc
Slide 30: Upcoming film line-up (continued)
THOR: RAGNAROK (OCTOBER 2017) DISTRIBUTOR: DISNEY SYNOPSIS: Thor must face the Hulk in a gladiator match and save his people from the ruthless Hela. For personal use only STARS: Chris Hemsworth, Tom Hiddleston, Cate Blanchett DIRECTOR: Taika Waititi THE SNOWMAN (OCTOBER 2017) DISTRIBUTOR: UNIVERSAL
Slide 31: Upcoming film line-up (continued)
BLADE RUNNER 2049 (OCTOBER 2017) DISTRIBUTOR: SONY SYNOPSIS: Thirty years after the events of the first film, a new blade runner, LAPD Officer K (Ryan Gosling), unearths a For personal use only long-buried secret that has the potential to plunge what's left of society into chaos. STARS: Ryan Gosling
Slide 32: Upcoming film line-up (continued)
MURDER ON THE ORIENT EXPRESS (NOVEMBER 2017) DISTRIBUTOR: FOX SYNOPSIS: Renowned Belgian detective Hercule Poirot investigates the murder of a wealthy American traveling on the For personal use only Orient Express, the most famous train in the world. STARS: Johnny Depp, Daisy Ridley, Penelope Cruz D
Slide 33: Upcoming film line-up (continued)
STAR WARS EPISODE VIII: THE LAST JEDI (DECEMBER 2017) DISTRIBUTOR: DISNEY SYNOPSIS: Having taken her first steps into a larger world in Star Wars: The Force Awakens (2015), Rey continues her epic For personal use only journey with Finn, Poe and Luke Skywalker in the next chapter of the saga. STARS:
Slide 34: Upcoming film line-up (continued)
COCO (DECEMBER 2017) DISTRIBUTOR: DISNEY SYNOPSIS: Coco follows a 12-year-old boy named Miguel who sets off a chain of events relating to a century-old mystery, For personal use only leading to an extraordinary family reunion. STARS: Gael Carcia Bernal, Benjamin Bratt, Renee Victor DIRECTOR: Lee Unk
Slide 35: Non-IFRS Financial Information
Non – IFRS Financial Information For personal use only The EVT Group results are prepared under Australian Accounting Standards, and also comply with International Financial Reporting Standards (“IFRS”). This presentation includes certain non-IFRS measures, including the normalised profit concept. T
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