Event Hospitality and Entertainment : 2019 Preliminary Final Report

EVENT HOSPITALITY & ENTERTAINMENT LIMITED

ABN: 51 000 005 103

FINANCIAL REPORT

FOR THE YEAR ENDED

30 JUNE 2019

(INCLUDING ADDITIONAL APPENDIX 4E DISCLOSURES)

ASX CODE: EVT

RELEASED

22 AUGUST 2019

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CONTENTS

Results for announcement to the market (Appendix 4E)

Annexure to the Appendix 4E

Consolidated financial report

INTERNET

These results will be available on the internet at www.evt.comunder the Investor Centre menu.

ENQUIRIES

Media enquiries should be directed to:

Jane Hastings - CEO	Phone: [phone]
David Stone - Company Secretary

Street address	Postal address
478 George Street	GPO Box 1609
SYDNEY NSW 2000	SYDNEY NSW 2001

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APPENDIX 4E (Rule 4.3A)

PRELIMINARY FINAL REPORT

FOR THE YEAR ENDED 30 JUNE 2019

RESULTS FOR ANNOUNCEMENT TO THE MARKET

(All comparisons to the year ended 30 June 2018)

				2019	2018
				A$'000	A$'000
Revenue and other income from continuing operations	Up	2.8%	to	1,009,309	982,283
Revenue and other income from discontinued operations	Down	4.1%	to	294,979	307,455

Total revenues and other income

Profit from continuing operations before individually significant items, net finance costs and income tax

Net finance costs from continuing operations

Profit from continuing operations before individually significant items and income tax expense

Individually significant items from continuing operations

Up	1.1%	to	1,304,288	1,289,738
Down	6.7%	to	158,945	170,352
			(9,355)	(5,874)
Down	9.1%	to	149,590	164,478
			(502)	(14,568)

Profit from continuing operations before income tax expense

Discontinued operations profit before income tax

Profit before income tax expense

Income tax expense from continuing operations Income tax expense from discontinued operations

Profit for the year attributable to members of the parent entity

Down	0.5%	to
Down	4.5%	to

149,088 149,910

8,934 15,631

158,022 165,541

(42,009) (48,451)

(4,124) (5,180)

111,889 111,910

Dividends			Amount per security		Franked amount per security
Final dividend	- Current year		31.0	¢	31.0	¢
	- Previous corresponding period		31.0	¢	31.0	¢
Interim dividend	- Current year		21.0	¢	21.0	¢
	- Previous corresponding period		21.0	¢	21.0	¢
Total dividend (interim and final):						xxxxxxxxxxxxxxxxxx
	- Current year		52.0 ¢	52.0 ¢
	- Previous corresponding period		52.0 ¢	52.0 ¢
Record date for determining entitlements to the dividend		5 September 2019

For an explanation of the figures reported refer to commentary on results.

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

APPENDIX 4E (Rule 4.3A)

PRELIMINARY FINAL REPORT

FOR THE YEAR ENDED 30 JUNE 2019

1. Comments by Directors

See commentary attached to this report.

2. NTA Backing

Net tangible asset backing per ordinary security

Current period

Previous corresponding period

$6.44$6.14

3.	Annual Meeting
	The annual meeting will be held as follows:
	Place:	Event Cinemas
		505-525 George Street
		Sydney NSW 2000
	Date:	18 October 2019
	Time:	10:00 am Sydney time
	Approximate date the annual report will be available:	13 September 2019

4. Dividend Re-Investment Plan

The Dividend Reinvestment Plan ("DRP") was suspended in August 2010 and will not operate for the 2019 final dividend.

5. Compliance statement

The report is based on accounts which have been subject to audit.

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

The information presented below is the Operating and Financial Review, which forms part of the 2019 Directors Report

OPERATING AND FINANCIAL REVIEW

Overview of the Group

Reported net profit after discontinued operations was $111,889,000 (2018: $111,910,000), $21,000 below the prior year result. The normalised result before interest and income tax expense

from continuing operations was $158,945,000 (2018: $170,352,000), a decrease of $11,407,000 or 6.7% and the normalised result after tax from continuing operations was $104,271,000

(2018: $111,657,000), a decrease of $7,386,000 or 6.6% below the prior year result. A summary of the normalised result is outlined below:

	2019	2018	2017
	Normalised		Normalised	Reconciliation to	Normalised	Reconciliation to
	Reconciliation to
	result*	reported net profit	result*	reported net profit	result*	reported net profit
	$'000	$'000	$'000	$'000	$'000	$'000
Entertainment
Australia	60,198	60,198	68,600	68,600	78,957	78,957
New Zealand	10,015	10,015	11,150	11,150	10,787	10,787
Hospitality and Leisure
Hotels and Resorts	69,502	69,502	69,270	69,270	52,734	52,734
Thredbo Alpine Resort	25,017	25,017	21,838	21,838	18,187	18,187
Property and Other Investments	13,436	13,436	16,528	16,528	9,343	9,343
Unallocated revenue and expenses	(19,223)	(19,223)	(17,034)	(17,034)	(22,322)	(22,322)
	158,945	158,945	170,352	170,352	147,686	147,686
Finance revenue	527	527	528	528	488	488
Finance costs	(9,882)	(9,882)	(6,402)	(6,402)	(8,979)	(8,979)
	149,590	149,590	164,478	164,478	139,195	139,195
Income tax expense	(45,319)	(45,319)	(52,821)	(52,821)	(40,275)	(40,275)
Profit from continuing operations	104,271	104,271	111,657	111,657	98,920	98,920
Individually significant items - net of tax		2,808		(10,198)		(6,494)
Discontinued operations - net of tax		4,810		10,451		18,393
Profit for the year
	111,889		111,910		110,819

• Normalised result is profit for the year before individually significant items (as outlined in Note 2.3 to the financial statements and in the table below). As outlined in Note 2.2 to the financial statements, this measure is used by the Group's CEO to allocate resources and in assessing the relative performance of the Group's operations. The normalised result is an unaudited non-International Financial Reporting Standards measure.

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