EVT Ltd

EVT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$11.10	Tksz	Bglhxnnh

EVT: Looking Beyond June-Half Intermissions

Brian Han

Jun 21, 2024

Shares in EVT remain at a 17% discount to our AUD 13.50 fair value estimate. We recognize the fiscal 2024 results are likely to contain some startlingly weak earnings, especially with respect to German cinema and Thredbo in the June half. However, these are caused by temporary factors likely to normalize, while solid fundamentals of the hotels unit underpin half of our intrinsic value assessment of the no-moat-rated group.

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