Key points
- FY26 reported NPAT up 51.9% to $50.7m
- Group normalised revenue up 6.3% to $1,314.9m
- Group normalised EBITDA up 8.4%
- Positive outlook for FY27
Full summary
EVT Ltd released its FY26 results, showcasing a 51.9% increase in normalised net profit after tax (NPAT) to $50.7 million. Group normalised revenue rose by 6.3% to $1,314.9 million, while group normalised earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 8.4%. The company's entertainment division saw a 45.8% rise in normalised EBITDA, driven by a stronger film lineup and the 'Fewer Better' strategy. The hotels division experienced a 1% increase in EBITDA, with underlying growth of 3.2%, though the fourth quarter was impacted by the Middle East crisis. Thredbo's EBITDA increased by 13.7%, despite weaker winter conditions in 2026. The company is reviewing its group structure to maximize shareholder returns and plans to divest approximately $800 million of non-core properties, with proceeds to be reinvested in hotel growth and potentially a special dividend.
Guidance
FY27 EBITDA growth expected, subject to film performance and release date changes
Outlook
Entertainment expected to deliver strong 1H EBITDA growth. Thredbo FY27 EBITDA expected to be below FY26 due to conditions. Hotels expected to deliver another EBITDA record year.