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Event Hospitality and Entertainment Ltd EVT

Rating as of

Morningstar’s Analysis

Valuation
Currency in AUD
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5-Star Price

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Economic Moat

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Capital Allocation

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Event Stock Price Sails Past Pre-Pandemic Level but Earnings Recovery Still Way Off

Brian Han Director

Analyst Note

| Brian Han |

We are cognisant of investor penchant for high-beta, COVID-19 recovery plays such as Event Hospitality and Entertainment, a company that is leveraged to the "pent-up leisure demand” thematic. However, the 21% jump in its share price since the release of fiscal 2021 results on Aug. 23 (versus a 1% decline in the ASX 200) appears exuberant, sitting at a 26% premium to our unchanged AUD 12.00 fair value estimate.

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Company Profile

Business Description

Event Hospitality and Entertainment is an Australian provider of entertainment, hospitality and tourism, and leisure 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