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    EVT   AU000000EVT1

EVENT HOSPITALITY & ENTERTAINMENT LIMITED

(EVT)
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Event Hospitality & Entertainment : Annual Report to shareholders

09/16/2021 | 07:22pm EST

A B N 51 0 0 0 0 0 5 1 0 3

AnnualEVENT HOSPITALITY & ENTERTAINMENT LIMITED

Report

2021

E V E N T H O S P I T A L I T Y & E N T E R T A I N M E N T L I M I T E D

A B N 5 1 0 0 0 0 0 5 1 0 3

2 0 2 1 A N N U A L R E P O R T

C O N T E N T S

Section

Page

Directors' Report

2

Directors' Report: Remuneration Report - Audited

24

Lead Auditor's Independence Declaration

35

Statement of Financial Position

36

Income Statement

37

Statement of Comprehensive Income

38

Statement of Changes in Equity

39

Statement of Cash Flows

40

Notes to the Financial Statements

Section 1 - Basis of preparation

1.1

- Reporting entity

41

1.2

- Basis of preparation

41

1.3

- Foreign currency

44

1.4

- New and amended accounting standards adopted by the Group

45

1.5

- Restatement of comparatives and discontinued operations

47

Section 2 - Performance for the year

2.1

- Revenue

53

2.2

- Segment reporting

57

2.3

- Individually significant items

62

2.4

- Taxation

62

2.5

- Earnings per share

65

Section 3 - Operating assets and liabilities

3.1

- Trade and other receivables

66

3.2

- Inventories

67

3.3

- Property, plant and equipment

67

3.4

- Investment properties

72

3.5

- Assets held for sale

73

3.6

- Goodwill and other intangible assets

74

3.7

- Trade and other payables

76

3.8

- Provisions

76

3.9

- Commitments and leases

78

3.10 - Other liabilities

81

Section 4 - Capital structure and financing

4.1

- Share capital

82

4.2

- Dividends

83

4.3

- Reserves

84

4.4

- Loans, borrowings and financing arrangements

85

4.5

- Financial risk management

87

Section 5 - Group composition

5.1

- Business combinations

92

5.2

- Subsidiaries

94

5.3

- Interests in other entities

97

Section 6 - Employee benefits and related party transactions

6.1

- Share-based payments

101

6.2

- Director and executive disclosures

104

6.3

- Related parties

105

Section 7 - Other information

7.1

- Contingent liabilities

106

7.2

- Reconciliation of loss for the year to net cash provided by operating activities

106

7.3

- Auditors' remuneration

107

7.4

- Parent entity disclosures

108

7.5

- Events subsequent to reporting date

109

7.6

- Deed of Cross Guarantee

110

Directors' Declaration

112

Independent Auditor's Report

113

Shareholder Information

118

Other Information

120

1 EVENT Hospitality & Entertainment Limited - 2021 Annual Report

D I R E C T O R S ' R E P O R T

The directors present their report together with the financial report of EVENT Hospitality & Entertainment Limited, being the Company and its controlled entities ("Group"), for the year ended 30 June 2021 and the auditor's report thereon.

DIRECTORS

The directors of the Company in office at any time during or since the end of the year are:

AG Rydge (Chairman)

Director since 1978

PR Coates

Director since 2009

VA Davies

Director since 2011

DC Grant

Director since 2013

JM Hastings (Managing Director and Chief Executive Officer)

Director since 2017

PM Mann

Director since 2013

RG Newton

Director since 2008.

Directors' qualifications, experience and independent status

Alan Rydge

Non-executive Chairman, Board member since 1978, Chairman of the Board since 1980. Member of the Audit and Risk Committee and member of the Nomination and Remuneration Committee.

Experience

A company director with more than 50 years of experience in the film, hospitality, leisure and tourism industries. Joined the Greater Union group in 1971 and was formerly the Group Managing Director.

Directorships

Mr Rydge is also a director of the listed company, Carlton Investments Limited (appointed 1980, chairman since 1980). In addition, Mr Rydge is chairman of Alphoeb Pty Limited and Enbeear Pty Limited.

Peter Coates AO, BSc (Mining Engineering), FAICD, FAusIMM

Independent non-executive director and Board member since 2009, and Chairman of the Nomination and Remuneration Committee. Mr Coates is the lead independent director.

Experience

A company director with more than 50 years of resource industry experience including as chief executive officer of Xstrata and Glencore's global coal businesses until his retirement in December 2007. Mr Coates was a past non-executive chairman of Santos Limited, Sphere Minerals Limited and Minara Resources Ltd, and a past chairman of the Minerals Council of Australia, NSW Minerals Council and Australian Coal Association. He was made an Officer of the Order of Australia in 2009 and awarded the Australasian Institute of Mining and Metallurgy Medal in 2011.

Directorships

Positions held by Mr Coates during the last three years include:

  • director of Glencore plc; and
  • chairman of the Industry Advisory Council for the School of Minerals and Energy Resource Engineering, UNSW.

2 EVENT Hospitality & Entertainment Limited - 2021 Annual Report

D I R E C T O R S ' R E P O R T

Directors' qualifications, experience and independent status (continued)

Valerie Davies FAICD

Independent non-executive director and Board member since 2011.

Experience

A company director with more than 20 years of broad experience across diverse sectors, including tourism, property, technology, labour-hire, health and media. In parallel, Ms Davies established her own consultancy in corporate communications, working at the highest level with numerous tier 1 national and international business organisations addressing the complexities of issues management, communications, coaching and mentoring. Ms Davies is a member of Chief Executive Women, a former Telstra Business Woman of the Year (WA) and a past Vice-President of the Australian Institute of Company Directors (WA).

Directorships

Positions held by Ms Davies during the last three years include:

  • director of Cedar Woods Properties Limited; and
  • commissioner of Tourism Western Australia (resigned 30 June 2021).

David Grant BComm, CA, GAICD

Independent non-executive director, Board member since 2013, and Chairman of the Audit and Risk Committee.

Experience

A company director and a Chartered Accountant with more than 25 years of accounting and finance experience spanning both the accounting profession and the commercial sector. Mr Grant's executive career included roles with Goodman Fielder Limited and Iluka Resources Limited. Mr Grant was formerly a non-executive director of iiNet Limited.

Directorships

Positions held by Mr Grant during the last three years include:

  • director of Retail Food Group Limited;
  • director of The Reject Shop Limited;
  • director of A2B Australia Limited; and
  • director of Murray Goulburn Co-operative Co. Limited (appointed 27 October 2017 and resigned 26 June 2020).

Jane Hastings BComm

Managing Director and Chief Executive Officer ("CEO") since 1 July 2017.

Experience

Ms Hastings has more than 20 years of experience in the tourism, hospitality and entertainment sectors. Ms Hastings was previously CEO of New Zealand Media and Entertainment (NZME) (2014 2016). Ms Hastings was appointed as the Group's Chief Operating Officer in 2016 and CEO in 2017.

Directorships

Ms Hastings was previously a New Zealand Film Commission board member.

3 EVENT Hospitality & Entertainment Limited - 2021 Annual Report

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Event Hospitality and Entertainment Ltd. published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 23:21:08 UTC.


© Publicnow 2021
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Financials
Sales 2022 799 M 561 M 561 M
Net income 2022 5,02 M 3,53 M 3,53 M
Net Debt 2022 261 M 183 M 183 M
P/E ratio 2022 233x
Yield 2022 0,46%
Capitalization 2 445 M 1 717 M 1 717 M
EV / Sales 2022 3,39x
EV / Sales 2023 2,32x
Nbr of Employees -
Free-Float 64,9%
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Technical analysis trends EVENT HOSPITALITY & ENTERTAINMENT LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 15,17 AUD
Average target price 15,43 AUD
Spread / Average Target 1,74%
EPS Revisions
Managers and Directors
Jane M. Hastings CEO, Managing Director & Executive Director
Alan G. Rydge Non-Executive Chairman
Richard Gordon Newton Independent Non-Executive Director
Peter Roland Coates Lead Independent Non-Executive Director
Valerie Anne Davies Independent Non-Executive Director
Sector and Competitors