EVT's Medium-Term Growth Driven by High-Margin Managed Hotel Agreements, Near-Term Cinema Rebound, Jarden Says

MT Newswires Live
07/10

EVT's (ASX:EVT) medium-term growth is driven by high-margin managed hotel agreements, plus a cinema rebound in the near-term, with the property portfolio anchoring EVT's valuation, Jarden said in a Thursday note.

EVT runs three main divisions, hospitality, entertainment, and leisure, underpinned by an around AU$2.3 billion property portfolio.

It forecast a fiscal year 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) growth of 3% to AU$166 million, weighed down mostly by hotel refurbishments. In fiscal year 2027, an unwinding of the refurbishments, additional contribution from EVT Connect, and a healthy film slate supports 12% growth to AU$187 million.

The investment firm downgraded EVT to overweight from buy and cut the price target to AU$14.80 per share from AU$16.62 per share.

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