• Normalised revenue up 5.4% to $683.8 million
• Normalised EBITDA up 5.5% to $105.1 million
• Normalised profit after tax up 28.5% to $40.5 million

EVT Limited ('EVT' or the 'Group') today announced a half year result highlighting revenue and profit growth on the prior comparable half year, solid progress with the Group's strategic focus on growing future hotel earnings, and a positive outlook for the second half of FY26. The Hotels division delivered record revenue (up 5.7%, underlying up 10.8%) and EBITDA (up 6.0%, underlying up 15.6%). The Entertainment Group revenue was up 3.5% on 4.1% fewer admissions, driven by the Group's yield strategies. In Germany, EBITDA was up 54.1% on the prior year. The Group continues to focus on growth of hotel earnings with the launch of EVT Connect Hospitality, seeded with the successful acquisition of the Pro-invest Hotels management company, and the acquisition of QT Auckland. The Group is also actively working on strategies to unlock value from underperforming non-core assets. The second half is expected to achieve modest growth on the prior second half, with the Hotel division expected to deliver another record year, partially offset by the ongoing impact of works at QT Queenstown and QT Gold Coast. Thredbo's full year EBITDA is now expected to be around $23 million, subject to the impact of winter weather conditions.

The Group expects the Hotel division to deliver another record year, including the benefit of strong underlying performance, the contribution from Connect Hospitality, the acquisition of QT Auckland, and new rooms coming online at the upgraded QT Queenstown, partially offset by the ongoing impact of works at QT Queenstown and QT Gold Coast.

The Group expects the second half to achieve modest growth on the prior second half, based on the blockbuster films currently dated to release, subject to film performance. The Group expects to exit two locations in Australia and one in Germany in the second half.