• Revenue and normalised EBITDA growth of 5.4% and 5.5% respectively
• Hotels, Thredbo and Entertainment Germany delivered strong performance
• Group strategy focused on prioritizing hotels, reviewing cinema strategy

EVT Ltd has reported a strong half-year performance, with revenue increasing 5.4% to $683.8 million and normalised EBITDA growing 5.5% to $105.1 million. The company's hotels division delivered a record result, with normalised EBITDA up 6.0% (15.6% on an underlying basis). Entertainment Germany also performed well, with EBITDA increasing 54.1% on the prior year, driven by strong local content. Thredbo resort reported a 19.5% increase in revenue and a 30.8% jump in normalised EBITDA, benefiting from improved weather conditions. The company's group strategy is focused on prioritizing the hotels business, with plans to review options to accelerate growth. EVT is now the second-largest hotel operator in Australia following the successful completion of the PIH acquisition. The company is also progressing strategies to release value from low-contribution property assets, including the sale of the Geelong property and the acquisition of QT Auckland.Looking ahead, the company expects its hotels division to deliver another record year in the second half, subject to the impact of some disruption from remediation works. The entertainment division is anticipating growth in the second half, though this is subject to film performance and any date changes. Thredbo's summer trading was impacted by bushfires, while the winter season (June) will depend on weather conditions.

EVT expects its hotels division to deliver another record EBITDA year in the second half of FY2026, with a net benefit of around $1.5 million from acquisitions and divestments. The entertainment division is expected to deliver growth in the second half, subject to film performance and any date changes.