Evt Limited · ASX:EVT
Evt — H1 FY2024 Earnings Presentation
24 slides from Evt's earnings presentation, Feb 15, 2024
Slide 1: Results presentation, half year ended 31 December 2023
For personal use only Results presentation Released 15 February 2024 Half year ended 31 December 2023
Slide 2: Webcast and dial-in details
For personal use only 8:30am (AEDT) Friday 16 February 2024 Webcast Access a webcast of the briefing at https://webcast.openbriefing.com/evt-hyr-2024/ Dial-in Pre-register at https://s1.c-conf.com/diamondpass/10036314-cfi4go.html After pre-registering you will receive details for the telephone numbe
Slide 3: 1H Overview
1H Overview Revenue $658.9m, up 8.6%. 1 Revenue up 8.6% on 1H PY 2 EBITDA growth from Hotels, Entertainment For personal use only Growth for Hotels and 1H Growth for Hotels and Entertainment, Entertainment Thredbo impacted by adverse winter Entertainment normalised EBITDA $36.9m E V T | ENTERTAINMEN
Slide 4: 1H Overview: EBITDA by segment
1H Overview Half year ended 31 December 2022 $000 2023 $000 VARIANCE $000 Entertainment Australia 20,093 23,903 3,810 New Zealand (503) 1,492 1,995 Germany 11,289 11,551 262 For personal use only Growth for Hotels (+4.0%) and Property Entertainment (+19.6%) E V T | ENTERTAINMENT | VENTURES | TRAVEL
Slide 5: Entertainment
5 For personal use only Entertainment
Slide 6: Entertainment Group Overview
Entertainment Group Overview Half year ended For personal use only Revenue up 12.7% and EBITDA up 19.6% on prior year 31 December E V T | ENTERTAINMENT | VENTURES | TRAVEL 2022 2023 VAR Admissions1 (000) 11,733 13,185 +12.4% Films release dates postponed due to strike action, ~10% impact on 1H Reven
Slide 7: Entertainment Overview by country
Entertainment Overview by country Australia Half year ended 31 December 2022 2023 VAR For personal use only Admissions1 (000) 5,709 6,298 +10.3% Admissions, revenue and profit Revenue ($000) 179,586 198,830 +10.7% E V T | ENTERTAINMENT | VENTURES | TRAVEL growth achieved across all EBITDA ($000) 20,
Slide 8: Entertainment: admission price and spend per head
Entertainment +25.7% +53.1% Strong spend continues For personal use only Records achieved in AAP, record Average Admission Price - Australia Spend Per Head - Australia SPH in Australia and Germany TRAVEL Pre-COVID 1H19 1H24 Pre-COVID 1H19 1H24 +47.3% | Premium is performing above +51.7% | VENTURES e
Slide 9: Ventures
9 For personal use only Ventures
Slide 10: Property & Development
Property & Development Acquisitions Priority Developments Rydges Latimer Christchurch ownership 525 George Street Stage 2 DA approved. increased to 100%. Detailed design documentation underway For personal use only and considering funding options to Acquired property for future LyLo determine feasib
Slide 11: Thredbo / Travel
11 For personal use only Thredbo Travel
Slide 12: Thredbo
Thredbo EBITDA of $22.1m, solid despite Half year ended For personal use only worst season in ~20 years 31 December 2022 2023 VAR TRAVEL Revenue ($000) 80,990 63,103 (22.1%) 76.7% winter yield increase | EBITDA ($000) 41,347 22,108 (46.5%) compared to pre-COVID 19 | VENTURES Normalised PBIT($000) 36
Slide 13: Hotels / Travel
13 For personal use only Hotels Travel
Slide 14: Hotels
Hotels Half year ended For personal use only Occupancy improves +3.0 pts on pcp including Lylo, on a like for like 31 December E V T | ENTERTAINMENT | VENTURES | TRAVEL 2022 2023 VAR basis +2.0 pts Revenue ($000) 177,713 202,949 +14.2% EBITDA ($000) 45,804 47,629 +4.0% Record rates maintained - Rydg
Slide 15: Hotels Overview by brand
Overview Rydges For personal use only Rates maintained at record levels Half year ended 31 December 2022 2023 VAR E V T | ENTERTAINMENT | VENTURES | TRAVEL Occupancy 77.2% 76.4% (0.8)% Occupancy continues to rebound, Average room rate ($) $194 $198 +2.1% Rydges occupancy reflects Revpar ($) $150 $15
Slide 16: Occupancy improving
Occupancy Owned Hotel Occupancy improving 90.0% 80.0% For personal use only 70.0% TRAVEL Steady occupancy improvements 60.0% across segments with the | | VENTURES exception of domestic leisure 50.0% (normalising) 40.0% Market-wide occupancy in EVT | ENTERTAINMENT Canberra, Gold Coast, Regional 30.0%
Slide 17: Rates well above pre-COVID
Rates well above Owned Hotel Average Room Rate pre-COVID $280 $260 For personal use only $240 TRAVEL $220 Rates relatively maintained at prior year record levels – still well above | $200 | VENTURES pre-COVID $180 Lower rate segments including inbound groups and crew driving $160 EVT | ENTERTAINMENT
Slide 18: Hotel brand strategy
For personal use only EVT BRANDS Hotel brand strategy 10 hotels | 1531 rooms 44 hotels | 7581 rooms 5 hotels | 663 rooms 3 hotels | 205 rooms + 526 pods LUXURY BUDGET INDEP ENDENT COLLECTON 2 hotels | 272 rooms 7 hotels | 730 rooms 5 hotels | 1,049 rooms 4 hotels | 334 rooms E N T E R TA IN M E N T
Slide 19: Joining the Independent Collection by EVT
For personal use only TRAVEL Hotel Telegraph Singapore Joining the | | VENTURES Independent Collection by EVT E V T | ENTERTAINMENT December 2023 The Old Clare Hotel Harbour Rocks Hotel January 2024 February 2024
Slide 20: LyLo pipeline
LyLo pipeline 82 Pods For personal use only 5 Family Rooms ~200 LyLo Pods Co-working / Living ~60 private en-suite rooms Opening July 2024 Poolside Miss Lucy's E V T | ENTERTAINMENT | VENTURES | TRAVEL Co-working / living spaces DA submitted Level 4 expansion 19 Essex St, Fremantle 120 Pods with add
Slide 21: EVT Strategy
EVT Strategy 1 2 3 For personal use only E V T | ENTERTAINMENT | VENTURES | TRAVEL Grow revenue above market Maximise assets Business transformation Smarter pricing, customer informed Premiumisation Elevate NPS and eNPS New experiences Acquisition of key city operating assets Automation for Efficien
Slide 22: 2H Outlook
2H Outlook For personal use only E V T | ENTERTAINMENT | VENTURES | TRAVEL Growth in Hotels Entertainment Hotels Thredbo 2H line up impacted by Revpar growth likely to be Summer demand strong but Entertainment and Thredbo strikes delaying releases, driven by occupancy ability to trade impacted by sh
Slide 23: 2H view of blockbuster releases
2H view of blockbuster* releases Weaker H2 Box Office ~30% impact on PCP due to strike related release delays JANUARY FEBRUARY MARCH APRIL MAY JUNE 2 For personal use only 0 E V T | ENTERTAINMENT | VENTURES | TRAVEL 2 4 2 0 2 3 23 *Films expectedtodelivermorethan$15mnationalAUBoxOffice
Slide 24: Non-IFRS measures notice and thank you
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. These measures are used internally by management to asse