EVT Limited reported strong profit growth for the year ended 30 June 2026, with reported profit after tax surging 51.9% to $50.7 million, and adjusted profit (excluding AASB 16 lease accounting and individually significant items) climbing 41.3% to $54.3 million. This substantial earnings expansion reflects underlying operational momentum across the company’s business, with normalised revenue climbing 6.3% to $1.315 billion despite a moderating economic environment.
The profit growth outpaced revenue expansion, signaling improved operational leverage and cost management. EBITDA before accounting adjustments reached $174.4 million, up 8.4% year-on-year, indicating that the company is translating revenue growth into stronger bottom-line performance. The disconnect between the 51.9% reported profit growth and the 41.3% adjusted growth reflects the impact of AASB 16 lease accounting changes and individually significant items. Investors should focus on the adjusted metrics as a clearer reflection of operational earnings, given the distortion from accounting standards and one-off events.
The dividend increase demonstrates management confidence in sustaining earnings improvement. The final dividend lifted to 23 cents per share from 22 cents, while the interim dividend rose to 18 cents from 16 cents, bringing the full-year distribution to 41 cents, up from 38 cents. All dividends are fully franked, providing Australian taxpayers with the benefit of franking credits. However, the company suspended its Dividend Re-Investment Plan in August, a move worth monitoring as it typically indicates either capital deployment priorities or a shift in cash management strategy.
The results reflect a company firing on multiple cylinders. Revenue growth of 5.2% to $1.316 billion shows the business is expanding in absolute terms, while the 6.3% growth in normalised revenue suggests that even excluding individually significant items, underlying demand remains solid. The margin expansion evident in the profit metrics also indicates the company is managing costs effectively relative to revenue growth.
For investors, the key takeaway is a business delivering earnings growth well ahead of revenue growth, coupled with improved distributions. The 41.3% adjusted profit growth and 8.4% EBITDA growth provide a foundation for confidence in management’s operational execution. Upcoming focus should be on whether this earnings momentum can be sustained into the new financial year, what drove the individually significant items in the reported results, and the rationale for suspending the DRP. The company’s Annual General Meeting is scheduled for October, which may provide additional colour on management’s outlook and capital allocation plans.
This announcement has been flagged as price sensitive and material by the ASX.
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About EVT Limited (ASX: EVT)
EVT Limited operates entertainment and hospitality businesses across Australia, New Zealand, and Germany, including cinema operations under brands such as Event Cinemas, BCC Cinemas, and Rialto Cinemas. The company owns and operates hotels and resorts under brands including QT, Rydges, Atura, and LyLo, as well as the Thredbo Alpine Resort. Its core business segments include Entertainment, Hotels and Resorts, Thredbo Alpine Resort, and Property and Other Investments.
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