It is not a mystery - their Event cinemas business has shrunk significantly over the past decade. They've lost a big chunk of movie goers who now simply wait until the movie is released on their streaming service. Cinema attendance in recent years is down from a peak set some years ago.
The share price is merely reflecting the loss of that previously very significant, very lucrative stream of income. I think the peak years of cinema was when Marvel movies were at their peak. In 2017 for example their cinemas business did ~$112m in pre-tax earnings. In FY24, this figure was just $5.7m. If EVT did not have a substantial property and hotels portfolio, the stock would probably be down 90% over the last 10 years.
EVT Price at posting:
$10.42 Sentiment: Hold Disclosure: Held
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