EVT shares plunge as Middle East conflict sparks international guest cancellations
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More news: Shares in EVT Group plunged in afternoon trade after the company flagged operational impacts from the Middle East conflict.
Despite retaining its FY26 guidance for normalised EBITDA growth, the group noted an increase in cancellations from international inbound guests.
Shares had fallen 8.59% to $12.60 at 2:07pm AEST.
EVT retains guidance despite softening demand due to Middle East conflict
The news: Event, hospitality and entertainment company EVT Group has retained its FY26 guidance of normalised EBITDA growth on FY25, despite flagging impacts from the Middle East conflict.
The numbers: EVT’s hotel business, which accounts for over 60% of group earnings, is expected to deliver full-year normalised EBITDA that is “marginally up” on the previous year.
The context: The company said the Middle East crisis has had a “limited impact” on results to date, with cancellations from international inbound guests mostly offset by displaced international guests and an events line-up driving domestic demand.
However, EVT noted “signs of softening” in forward demand from international inbound guests, corporate travel, and conference and events.
The source: ASX
