Evt Limited · ASX:EVT
Evt — EVENT Hospitality & Entertainment — FY2020 Earnings Presentation
21 slides from Evt's earnings presentation, Aug 31, 2020
Slide 1: Results Presentation, Year Ended 30 June 2020
For personal use only RESULTS PRESENTATION 31 AUGUST 2020 Y E A R E N D E D 3 0 J U N E 2 0 2 0
Slide 2: Year End Results Webcast and Dial In Details
EVENT YEAR END RESULTS WEBCAST AND DIAL IN DETAILS For personal use only T U E S D AY 1 S E P T E M B E R 2 0 2 0 10:00 AM(AEDT) Access a webcast of the briefing at: https://webcast.openbriefing.com/5717/ Alternatively you may dial in to the briefing by pre-registering at https://s1.c-conf.com/diamo
Slide 3: Strong Response to an Unprecedented Period
FY20 STRONG RESPONSE TO AN UNPRECEDENTED PERIOD Good progress on Strategic Plan pre COVID-19 resulting in earnings growth and new company records set. For personal use only COVID-19 Government mandated restrictions resulted in closures, a first in the company's 110-year history. Swift and effective
Slide 4: The COVID-19 Impact
THE COVID-19 IMPACT For personal use only NORMALISED PBIT COVID-19 Response +53% (excluding rent benefits) COVID-19 Impact - 81% YoY 1. Normalised profit is profit before the impact of AASB 16 Leases, interest, tax, individually significant items and discontinued operations. Normalised profit is an
Slide 5: FY20 Full Year Overview
FY20 FULL YEAR OVERVIEW YEAR ENDED 2019 2020 VAR 30 JUNE $000 $000 % For personal use only Entertainment Australia and New Zealand 70,213 (8,672) (112.4)% Group Revenue to February 2020 $685 million, up 2.5% (adjusted3) and full year Hospitality $782 million down 21.7% - including $34m Government su
Slide 6: Entertainment: Group
ENTERTAINMENT 8 MONTH PERIOD ENDED FEBRUARY 2019 2020 VARIANCE ADJ^ Admissions (000) 16,214 16,166 (0.3)% (0.3)% GROUP Revenue ($000) 348,883 367,649 5.4% 6.2% For personal use only YEAR ENDED EBITDA ($000) 60,404 61,717 2.2% 7.0% 30 JUNE 2019 2020 VARIANCE Normalised PBIT ($000) 38,842 39,967 2.9%
Slide 7: Entertainment: Australia
ENTERTAINMENT 8 MONTH PERIOD ENDED FEBRUARY 2019 2020 VARIANCE ADJ^ Admissions* (000) 12,906 12,797 (0.8)% (0.8)% AUSTRALIA Revenue ($000) 293,537 303,994 3.6% 4.3% For personal use only YEAR ENDED EBITDA ($000) 52,040 51,454 (1.1)% 3.2% 30 JUNE 2019 2020 VARIANCE Normalised PBIT ($000) 33,930 34,43
Slide 8: Entertainment: New Zealand
ENTERTAINMENT 8 MONTH PERIOD ENDED FEBRUARY 2019 2020 VARIANCE ADJ^ Admissions* (000) 3,308 3,369 1.8% 1.8% NEW ZEALAND Revenue ($000) 55,346 63,655 15.0% 16.0% For personal use only YEAR ENDED EBITDA ($000) 8,364 10,263 22.7% 30.7% 30 JUNE 2019 2020 VARIANCE Admissions* (000) 5,239 3,610 (31.1)% No
Slide 9: Entertainment: Germany (Discontinued Operation)
ENTERTAINMENT 8 MONTH PERIOD ENDED FEBRUARY 2019 2020 VARIANCE Admissions 8,290 9,135 10.2% GERMANY Revenue ($000) 192,257 221,728 15.3% For personal use only ( D I S C O N T I N U E D O P E R AT I O N ) EBITDA ($000) 5,688 21,666 280.9% YEAR ENDED 30 JUNE 2019 2020 VARIANCE Normalised PBIT ($000) 4
Slide 10: Hotels and Resorts
For personal use only HOTELS AND RESORTS
Slide 11: Hotels & Resorts Overview
HOTELS & RESORTS OVERVIEW For personal use only Strong performance pre-COVID-19 with many hotels outperforming the YEAR ENDED 30 JUNE 2019 2020 VARIANCE market despite headwinds from bushfires, floods and initial Government- Revenue ($000) 353,468 277,573 (21.5)% mandated travel restrictions. EBITDA
Slide 12: Hotels & Resorts: Solid Pre-COVID Result
HOTELS & RESORTS S O L I D P R E - C O V I D R E S U LT For personal use only PRE-COVID19 PERIOD COVID19 PERIOD 8 MONTH PERIOD ENDED 4 MONTH PERIOD ENDED FEBRUARY 2019 2020 V A R I A N C E A D J ^ 30 JUNE 2019 2020 V A R I A N C E A D J ^ Revenue ($000) 240,357 233,674 (2.8)% (1.4)% Revenue ($000) 1
Slide 13: Key Statistics by Brand
KEY STATISTICS BY BRAND P R E - C O V I D - 1 9 : S T R O N G R E S U LT I N A M O R E C O M P E T I T I V E M A R K E T C O V I D - 1 9 P E R I O D : S W I F T C O S T R E D U C T I O N & S E C U R E D S C A R C E R E V E N U E TO R E M A I N O P E N For personal use only PRE-COVID – 8 MONTHS POST
Slide 14: Thredbo
For personal use only THREDBO
Slide 15: Thredbo: Strong Result Despite Bushfires & COVID-19
THREDBO STRONG RESULT DESPITE BUSHFIRES & COVID-19 For personal use only YEAR ENDED SUMMER MONTHS PRE 30 JUNE 2019 2020 VARIANCE BUSHFIRE IMPACT 2019 2020 VARIANCE Revenue ($000) 81,829 73,914 (9.7)% Revenue ($000) 4,482 4,906 9.5% EBITDA ($000) 28,923 24,865 (14.0)% EBITDA ($000) (848) (880) (3.8)%
Slide 16: Property
For personal use only PROPERTY
Slide 17: Strong Property Portfolio
PROPERTY STRONG PROPERTY PORTFOLIO For personal use only YEAR ENDED 30 JUNE 2019 2020 VA R I A N C E Revenue ($000) 21,035 18,935 (10.0)% Fair value adjustments ($000) 1,931 (1,657) (185.8)% Normalised PBIT ($000) 13,436 6,372 (52.6)% Rental income in the property division $1.7 million fair value Ry
Slide 18: Impact of AASB 16 Leases
NEW ACCOUNTING STANDARD IMPACT OF AASB 16 LEASES For personal use only AASB 16 took effect on 1 July 2019 and operating leases are now recognised on the The statement of financial position impact has been Group’s statement of financial position. summarised below excluding discontinued operations (Ci
Slide 19: Recovery Period: Strategic Priorities
RECOVERY PERIOD: STRATEGIC PRIORITIES For personal use only 1. GROW REVENUE ABOVE MARKET (PIVOT BUSINESS TO ADJUST FOR SOCIAL DISTANCING) PRODUCT INNOVATION & COVID-SAFE OPERATIONS ENHANCED SALES MODEL YIELD MANAGEMENT 2. MAXIMISE ASSETS DIVESTMENT OF PRESERVE CASH PROGRESS PLANNING NON-CORE ASSETS
Slide 20: Outlook for FY21
OUTLOOK FOR FY21 C O V I D - 1 9 G O V E R N M E N T M A N D AT E S D I C TAT E S P E E D O F R E C O V E RY For personal use only ENTERTAINMENT • Backlog of films resulting in a strong future film line up, but subject to timing of releases by studios. • H1 impacted by delayed releases and COVID-19
Slide 21: Non-IFRS Financial Information
NON-IFRS FINANCIAL INFORMATION For personal use only 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. T
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