EVT FY26 slides: profit jumps 52%, $800M divestment planned
Event Hospitality and Entertainment Limited (ASX:EVT) released robust full-year results on August 24, 2026, alongside an ambitious property divestment plan and an independent structural review. The company's shares rose 10.01% to $15.49, near its 52-week high, as investors favored its financial performance and planned capital recycling.
Normalized revenue reached $1,314.9 million, a 6.3% increase, while normalized EBITDA grew 8.4% to $174.4 million. Net profit after tax soared 51.9% to $50.7 million, indicating strong operating leverage across hotels, entertainment, and resorts. EVT aims to generate $800 million from non-core property sales over the next two to three years, with proceeds reinvested into hotel expansion and potential special dividends.
The company maintains a net debt position of $476.1 million, within a $750 million facility limit, offering ample financial flexibility for future growth.
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