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Event Hospitality and Entertainment Ltd - Stock Quote EVT

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Morningstar's Event Hospitality and Entertainment Ltd Stock Analysis

Valuation
Currency in AUD
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Capital Allocation

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Event Poised for Leverage to Recovery With Less Capital Intensity

Brian Han Director

Analyst Note

| Brian Han |

We lift our fair value estimate for Event Hospitality by 8% to AUD 13.00 per share, entirely driven by our cuts to our capital expenditure forecasts. While capital expenditure in first-half fiscal 2022 was up threefold year on year to AUD 30 million, management’s projected figure for the full year of about AUD 60 million is still low. We see this as more reflective of management’s reinvigorated capital discipline and core focus, borne out of coronavirus-enforced transformation, rather than any "underinvestment". As such, our capital expenditure expectations have been cut by about 19% per year over our forecast period.

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Event Hospitality and Entertainment Ltd's Company Profile

Business Description

Event Hospitality and Entertainment is an Australian provider of entertainment, hospitality and tourism, and leisure-related services. Operating under three divisions (entertainment/cinemas, hospitality and leisure/hotels, and property and investments), the company derives the majority of its earnings in Australia, with cinema operations in New Zealand and Germany (in the process of being divested). Key brands include Event Cinemas, Greater Union Cinemas, Rydges Hotels, QT Hotels, and the Thredbo ski resort.

Contact
478 George Street
Sydney, NSW, 2000, Australia
T +61 293736600
Sector Communication Services
Industry Entertainment
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 3,191