EVT's (ASX:EVT) normalized earnings before interest, taxes, depreciation, and amortization for the first quarter of fiscal 2025 fell by AU$22.3 million to AU$51.2 million compared with the prior-year period, according to a Friday filing with the Australian bourse.
The company's entertainment unit delivered EBITDA of AU$7.7 million, down by AU$21.8 million compared with the record-breaking quarter in the same period last year, the filing said.
Thredbo's EBITDA declined 11% year on year to AU$22.6 million as poor weather conditions forced the resort to close earlier than planned. Meanwhile, the hotels division logged a record first-quarter EBITDA of AU$22.1 million, up 0.4% on the year-ago period.
The entertainment and hospitality group said its hotels portfolio is its priority segment. It also announced roughly AU$40 million of potential property sales in the next 12 months.
EVT's shares were down past 3% in recent Friday trade.
Price (AUD): $10.74, Change: $-0.35, Percent Change: -3.16%
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