EVT Limited H1 Revenue Up 5.4% to A$683.8 Million, Net Profit Rises 21.6%
EVT Limited reported a robust first half for 2026 with revenue rising 5.4% to A$683.8 million and net profit up 21.6%, driven by strong performances in Germany, Thredbo, and Hotels. Strategic acquisitions, including Pro-invest Hotels and QT Auckland, underpin the group’s growth ambitions.
- Revenue up 5.4% to A$683.8 million
- Normalised EBITDA increased 5.5% to A$105.1 million
- Reported net profit after tax rose 21.6% to A$37.8 million
- Acquisition of Pro-invest Hotels management company completed
- QT Auckland acquisition announced, expected March 2026 completion
Strong Financial Performance Across Divisions
EVT Limited has delivered a solid half-year result for the period ending 31 December 2025, with revenue climbing 5.4% to A$683.8 million and normalised EBITDA rising 5.5% to A$105.1 million. The reported net profit after tax surged 21.6% to A$37.8 million, reflecting operational improvements and strategic investments.
The growth was notably driven by the Entertainment division in Germany, which saw revenue increase by 17.4%, and the Thredbo Alpine Resort, which posted a 19.5% revenue uplift. The Hotels and Resorts segment also contributed with a 5.7% revenue increase, or 10.8% on an underlying basis, despite some business interruptions at key properties.
Strategic Acquisitions and Portfolio Optimisation
During the half, EVT completed the acquisition of the Pro-invest Hotels management company, a move that expands its hotel management capabilities and supports its asset-light growth strategy. The group also announced the acquisition of QT Auckland, a premium lifestyle hotel in a strategic Auckland location, expected to close in March 2026.
In parallel, EVT progressed divestments of non-core assets, including the sale of Rydges Geelong, and is reviewing underperforming properties in its portfolio. This aligns with the group’s ‘Fewer, Better’ cinema strategy and focus on higher-yielding hotel assets.
Operational Highlights and Innovation
EVT’s Entertainment division experienced mixed results, with Australian and New Zealand cinemas facing challenges from gaps in blockbuster film releases, while premium formats and customer engagement initiatives helped sustain revenue. The German market outperformed, benefiting from strong local titles and increased admissions.
Thredbo enjoyed a more normal winter season with improved snow conditions, boosting skier visits and revenue. However, summer visitation was impacted by regional bushfire concerns.
Notably, EVT is investing heavily in artificial intelligence technology, partnering with global experts to deploy AI chat and voice agents, and pioneering AI-driven payment solutions in collaboration with Mastercard. These innovations aim to enhance customer experience and streamline operations.
Financial Position and Outlook
The group’s net debt increased to A$411.8 million following acquisitions but remains supported by a strong property portfolio independently valued at approximately A$2.3 billion. EVT is actively refinancing its debt facilities, with the main secured bank debt expiring in May 2026 and refinancing well advanced.
Looking ahead, EVT expects the second half of the financial year to outperform the prior corresponding period, contingent on film releases and weather conditions. Early 2026 trading has started strongly, with January revenue up 21.6% and EBITDA up 34.7%, led by blockbuster films and robust hotel performance.
Bottom Line?
EVT’s strategic hotel acquisitions and AI investments position it well for growth, but execution risks and market conditions will be closely watched.
Questions in the middle?
- How will EVT manage refinancing risks with its bank debt maturing in May 2026?
- What impact will the acquisition of QT Auckland have on the group’s hotel earnings in FY2026?
- Can EVT sustain growth in its cinema business amid fluctuating blockbuster film availability?
