Endeavour Group Limited (EDV) Q1 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to Endeavour Group's F22 first quarter trading update. All participants are in a listen-only mode. Endeavour CEO Steve Donoghue will provide some opening remarks followed by a question and answer session. Participants will need to press star 1 to ask a question. Only one question per person will be permitted. However, if time permits, participants are welcome to rejoin the question queue. I'd now like to hand the conference over to Mr Steve Donaghy, CEO. Please go ahead. Thank you. Good afternoon everyone and welcome to Endeavour Group's first quarter trading update. I'd like to begin by acknowledging the traditional custodians of land on which we're based here today in Surrey Hills, the Gadigal people of the Eora Nation. and pay my respects to elders past, present and future. I'd also like to welcome Shane Gannon, our CFO, who's also with us here today. I'll be providing a short overview of the trading results for the quarter and then Shane and I will take a few questions. The first quarter of our financial year covers the period from the 28th of June through to the 3rd of October. And as you're all aware, there's been significant COVID restrictions in place across this period, most notably lockdowns in New South Wales and Victoria. along with a variety of other trading restrictions across the country. Through the quarter, on average, 40% of our hotels were closed. As a national hotel operator, this has had a significant impact on our business. Sales from our hotels were $282 million in the quarter, which was down 9.9% when compared to the same quarter last year. And you might remember that COVID also impacted on trading in Q1 of last year when Victoria experienced its extended lockdown. To provide some further context on the im...