EVT's Normalized Earnings Drop in Fiscal Q1 on Weakness of Entertainment, Thredbo Segments; Shares Down 3%

MT Newswires Live

Oct 18, 2024

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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It also announced roughly AU$40 million of potential property sales in the next 12 months.</p><p>EVT's shares were down past 3% in recent Friday trade.</p><p>Price (AUD): $10.74, Change: $-0.35, Percent Change: -3.16%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EVT.AU","symbol_name":"EVT Ltd","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2476498459","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476498459","pubTimestamp":1729212170,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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