Evt Limited · ASX:EVT
Evt — FY2022 Earnings Presentation
53 slides from Evt's earnings presentation, Aug 22, 2022
Slide 1: Results presentation
Results presentation 22 August 2022 Year ended 30 June 2022
Slide 2: Webcast and dial-in details
2:00pm (AEST) Monday 22 August 2022 Webcast Access a webcast of the briefing at https://webcast.openbriefing.com/8999/ Dial-in Pre-register at https://s1.c-conf.com/DiamondPass/10023936-hg72yz.html After pre-registering you will receive details for the telephone number to call and a unique code to b
Slide 3: Overview
Overview Normalised EBITDA $138.3m 1 Normalised EBITDA improvement from $27.2 million in 2021 to $138.3 million in 2022 2 Divestment goal exceeded: $275.3 million EVENT HOSPITALITY & ENTERTAINMENT +$111.1m improvement Gross proceeds to date exceeded most Recovery achieved across all divisions recent
Slide 4: Group Overview
Group Overview 2021 $000 2022 $000 VARIANCE $000 Entertainment Very strong 2H rebound after 1H impact of Australia (3,280) 30,446 33,726 lockdowns. New Zealand (3,120) 1,760 4,880 Germany (33,616) 75,630 109,246 Group revenue $953.8m, up 46.0% on prior year. Underlying revenue up 36.4% excluding Hos
Slide 5: Property
Property ~$2 billion property portfolio Click to add text 5
Slide 6: Property & Developments
Property & Developments 1 Divestment goal exceeded Total gross proceeds of $275.3 million, exceeded most recent valuations by 28%, exceeded $250 million target. 2 Major developments on track 525 George Street Stage 2 DA lodged. Internal design work continuing. 458-472 George Street commercial Non-co
Slide 7: George Street, Sydney
525 George Street, Sydney Stage 2 DA lodged May 2022 560m2 Retail space EVENT HOSPITALITY & ENTERTAINMENT 292 hotel rooms 115 Residential apartments 5 Premium cinema screens Expected to commence late FY24 or early FY25, subject to market conditions 7
Slide 8: QT Gold Coast
QT Gold Coast 8
Slide 9: QT Gold Coast
QT Gold Coast 9
Slide 10: Rydges Melbourne
Rydges Melbourne 10
Slide 11: Rydges Melbourne
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Slide 12: Auckland
Auckland 12 Leased property
Slide 13: POD rooms Auckland
POD rooms Auckland 13 Leased property
Slide 14: Ensuite rooms Auckland
Ensuite rooms Auckland 14 Leased property
Slide 15: Event Cinemas Chermside
Event Cinemas Chermside 15 Leased property
Slide 16: Event Cinemas Innaloo
Event Cinemas Innaloo 16 Leased property
Slide 17: New snowmaking guns at Friday Flat
New snowmaking guns at Friday Flat 17
Slide 18: New mountain biking trails
New mountain biking trails 18
Slide 19: Planning for Alpine Coaster
Planning for Alpine Coaster 19
Slide 20: Hotels
Hotels 2022 year end update 20
Slide 21: Hotels
Hotels Strong recovery in 2H following materially greater COVID mandated restrictions in 1H. Full Year result 2021 H1 H2 2022 VAR Revenue ($000) 202,729 80,407 137,334 217,741 15,012 EVENT HOSPITALITY & ENTERTAINMENT EBITDA ($000) 33,449 (1,946) 28,522 26,576 (6,873) Underlying revenue up 16.4% and
Slide 22: Record room rates achieved in H2
Record room rates achieved in H2 Occupancy across all brands impacted by lockdowns in NSW and VIC in first 4 months of Rydges 2021 H1 H2 2022 VAR the year. Occupancy 46.7% 33.7% 61.9% 45.0% -1.7% EVENT HOSPITALITY & ENTERTAINMENT All brands achieved record 2H average room Average room rate $147 $138
Slide 23: Demand returns after lifting of restrictions
Demand returns after lifting of 90.0% restrictions 80.0% 70.0% Occupancy severely impacted early in the year as a result of the lockdowns in key markets including NSW, VIC and NZ. 60.0% EVENT HOSPITALITY & ENTERTAINMENT 50.0% Rapid rebound once restrictions ease, December and January were tracking a
Slide 24: Record rate growth in the second half
Record rate growth in the second half $220 $200 $180 EVENT HOSPITALITY & ENTERTAINMENT April to July 2022 rate results materially ahead of pre-COVID comparative period. $160 $140 New rate strategy delivered strong growth across all brands. $120 $100 Owned hotel average room rate Pre-COVID Lockdown o
Slide 25: Hotel brand strategy
Hotel brand strategy Owned brands We cover the market from luxury to budget experiences EVENT HOSPITALITY & ENTERTAINMENT 10 hotels | 1,646 rooms 45 hotels | 7,337 rooms 5 hotels | 663 rooms 2 hotels | 98 rooms New Auckland flagship hotel opening late 2022 25 12 hotels | 1,786 rooms | 4 tiers As at
Slide 26: Thredbo
Thredbo 2022 year end update 26
Slide 27: Thredbo
Thredbo Winter season materially impacted by COVID- 19 restrictions - 5 peak weeks of closure, before Year ended 30 June 2021 2022 VAR a record summer season. Revenue ($000) 78,659 64,330 (14,329) Adjusted Revenue1 ($000) 75,714 56,265 (19,449) New operating model and pricing strategy EBITDA ($000)
Slide 28: Entertainment
Entertainment 2022 year end update 28
Slide 29: Entertainment Australia
Entertainment Australia Revenue and EBITDA positive result delivered despite material impact of lockdowns and Year ended 30 June 2021 2022 VAR restrictions in the 1H. Admissions1 (000) 6,876 10,784 3,908 Revenue ($000) 219,316 318,597 99,281 Top Gun: Maverick and Spiderman: No Way EVENT HOSPITALITY
Slide 30: Entertainment New Zealand
Entertainment New Zealand Significantly more COVID lockdown and restriction impacted days in FY22 (66%) vs Year ended 30 June 2021 2022 VAR FY21 (24%). Admissions1 (000) 2,056 2,381 325 Revenue ($000) 41,670 58,185 16,515 Despite COVID impact, key blockbuster titles EVENT HOSPITALITY & ENTERTAINMENT
Slide 31: Entertainment Germany
Entertainment Germany Strong improvement in underlying trading, adjusted revenue +$160m, despite restrictions Year ended 30 June 2021 2022 VAR and closures of 10 locations in Omicron wave. Admissions (000) 1,017 7,606 6,589 Current year includes German Government Revenue ($000) 87,506 283,625 196,11
Slide 32: Premiumisation: Cinema of the future strategy
Premiumisation Cinema of the future strategy Range of experiences, Insert heat map maximising returns from EVENT HOSPITALITY & ENTERTAINMENT picture here every auditorium Data optimisation to improve retail experience Technology to improve customer experience and margins 32
Slide 33: Premiumisation: Cinema of the future strategy
Premiumisation Cinema of the future strategy EVENT HOSPITALITY & ENTERTAINMENT 33
Slide 34: Film line-up highlights
Film line-up highlights FY23 films estimated to exceed $15m AU Box Office JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE E V T | ENTERTAINMENT | VENTURES | TRAVEL
Slide 35: EVENT Hospitality & Entertainment
EVENT HOSPITALITY & ENTERTAINMENT
Slide 36: It's what we do
It's what we do $ ? B Thredbo voted Property Portfolio | atvsiesses 4 5M + Loyalty 150+ 1500+ Members Ski Resort nts and Ba and Event Spaces (0+ Hotels 140+ 2°"...
Slide 37: 37
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Slide 38: Entertainment Ventures Travel
Entertainment Ventures Travel 38
Slide 39: WHAT we do: Our customers are at the centre
WHAT we do Our customers are at the centre of everything. 39
Slide 40: Connecting customers through entertainment
WHAT we do Connecting customers to what they seek through entertainment. 40
Slide 41: Connecting customers through ventures
WHAT we do Connecting customers to what they seek through ventures. 41
Slide 42: Connecting customers through travel
WHAT we do Connecting customers to what they seek through travel. 42
Slide 43: Connecting customers through travel
WHAT we do Connecting customers to what they seek through travel. 43
Slide 44: HOW we do it
HOW we do it How we do it is what makes us unique. 44
Slide 45: HOW we do it
HOW we do it How we do it is what makes us unique 45
Slide 46: HOW we do it
HOW we do it How we do it is what makes us unique 46
Slide 47: HOW we do it
HOW we do it How we do it is what makes us unique 47
Slide 48: HOW we do it
HOW we do it How we do it is what makes us unique 48
Slide 49: ELEVATE Environment
ELEVATE Environment Transparency & reporting Respond to climate- related risks and opportunities with TCFD reporting Pathway to net zero Raise awareness for Sustainable Scope 3 emissions assessed in FY23 environmental design protection initiatives 3 key commitments Benchmarking performance Best prac
Slide 50: New evt.com
New evt.com (From )t)ells 27 September) ENTERTAINMENT | VENTURES | TRAVEL
Slide 51: EVT Investor Day
EVT Investor Day Entertainment Premiumisation Save the date: 3 November 2022 EVENT HOSPITALITY & ENTERTAINMENT invitation to follow Ventures The EVT way Property developments People Hotel management Community Sydney New concepts Environment Travel Thredbo business model 51 Accommodation strategy
Slide 52: Outlook for FY23
Outlook for FY23 FY23 a recovery year Entertainment Property Hotels EVENT HOSPITALITY & ENTERTAINMENT Potential headwinds from energy costs, other cost Solid July and a strong December expected with Avatar: The Way of The Property segment result is expected to track ~20% below Demand for Hotels cont
Slide 53: Thank you
The EVENT 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 as