• Revenue and other income down 0.7% to $654.3 million
• EBITDA up 3.8% to $169.8 million
• Profit after tax up 14.9% to $31.1 million
• Hotels division achieved record first half result

EVT Ltd has reported its half yearly results for the period ended 31 December 2024. The Group's normalised revenue for the half year was $649.1 million, a decrease of $9.8 million or 1.5% compared to the previous half year. However, normalised EBITDA increased by $3.5 million or 3.7% to $99.6 million. The Group's profit before interest, individually significant items, the net impact of AASB 16 Leases, and income tax expense was $97.1 million, $3.0 million (3.2%) above the prior year. The reported net profit after income tax was $31.1 million, $4.0 million (14.9%) above the prior year. The Hotels division achieved a record first half result, while the Entertainment division's performance was below the previous half year due to fewer blockbuster films released because of the Hollywood strikes. Additionally, Thredbo was impacted by adverse winter weather conditions. The Group's unallocated corporate costs at the EBITDA level were materially below the prior comparable half year, down $4.5 million to $9.7 million. The Group's net debt at 31 December 2024 was $303.4 million, which is below pre-COVID net debt levels.

The Group expects modest growth in Entertainment in the second half based on the blockbuster films currently dated to release, subject to film performance. In Hotels, the Group expects the second half to track relatively in-line with the prior second half, with underlying growth aiming to offset the Taylor Swift contribution in the prior year and the impact of Queenstown upgrade works. In Thredbo, the second half summer months are expected to trade relatively in-line with prior year, with the result for the month of June 2025 subject to winter weather conditions.