RYMAN HEALTHCARE FULL YEAR RESULTS 31 March 2017 FULL YEAR - - PowerPoint PPT Presentation

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RYMAN HEALTHCARE FULL YEAR RESULTS 31 March 2017 FULL YEAR - - PowerPoint PPT Presentation

Sep 06, 2023 275 likes •756 views

RYMAN HEALTHCARE FULL YEAR RESULTS 31 March 2017 FULL YEAR HIGHLIGHTS Underlying profit up 13% to $178 million Reported profit up 17% to $357 million Full year dividend 17.8 cents per share up 13% Record investment of $525 million 15

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RYMAN HEALTHCARE FULL YEAR RESULTS

31 March 2017

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FULL YEAR HIGHLIGHTS

Underlying profit up 13% to $178 million Reported profit up 17% to $357 million Full year dividend 17.8 cents per share – up 13% Record investment of $525 million

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15 YEARS OF DIVIDEND GROWTH

2 4 6 8 10 12 14 16 18 20 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Cents per share

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TROPICANA

Auckland

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INVESTING IN CARE

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15 YEARS OF UNDERLYING PROFIT GROWTH

20 40 60 80 100 120 140 160 180 200 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 $ Million

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REPORTED PROFIT GROWTH

50 100 150 200 250 300 350 400 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 $ Million

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FY17 - INVESTING CASH FLOWS

50 100 150 200 250 300 350 400

$ Millions

Land New villages Projects Village upgrades

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ESSIE SUMMERS

CHRISTCHURCH

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TOTAL ASSETS

0% 5% 10% 15% 20% 25% 30% 35% 40% 1 2 3 4 5 6 Mar 07 Mar 08 Mar 09 Mar 10 Mar 11 Mar 12 Mar 13 Mar 14 Mar 15 Mar 16 Mar 17 $ Billion Total Assets Bank debt to bank debt + equity

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0% 5% 10% 15% 20% 25% 30% 35% 2012 2013 2014 2015 2016 2017

DEVELOPMENT MARGIN

Target range

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RESALES BANK

100 200 300 400 500 600 700 800 2014 2015 2016 2017 $ Million The resales bank represents the extent that the current price exceeds the price paid by the current resident for the unit's occupancy rights

New Zealand Melbourne

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SALES PRICING VS MEDIAN HOUSE PRICE

200 400 600 800 1000 1200 1400 Melbourne Auckland

$ Thousand

Median house price - area Ryman - Independent Ryman - Serviced

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CAPITAL PROCEEDS

1 2 3 4 5 6 Mar 11 Mar 17 Mar 22 *

$ Billion

Gross Occupancy Advances

* Indicative occupancy advances – estimate only

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LONG TERM CAPITAL EFFICIENCY

$25m raised at IPO in 1999 Invested $2.6bn in portfolio since With no fresh capital Dividends of $585m paid since float Self-funded growth Strong balance sheet

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3 NEW VILLAGES CONSENTED

Brandon Park Devonport Tropicana

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AGE OF RESIDENTS AT ENTRY

50 100 150 200 250 300 350 400 450 60 62 64 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 100 102

No of Residents Independent Residents Care/Serviced Residents

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COBURG

Melbourne

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Pukekohe Rangiora Birkenhead Greenlane Brandon Park Tropicana

Village Design Consenting Construction Village open Final stages

Petone Devonport

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Burwood East Coburg Mt Eliza Hamilton Hobsonville Newtown Geelong Site A, NZ Site B, NZ

Village Design Consenting Construction Village open Final stages

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TROPICANA

Auckland

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DEVONPORT

Auckland

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BRANDON PARK

Melbourne

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THE LONG LUNCH

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MYRYMAN CARE

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MYRYMAN CARE

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RYMAN LEADERS

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MT ELIZA

Melbourne

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APPENDICES

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APPENDIX 1: REPORTED PROFIT UP 17%

Underlying profit $178.3M Unrealised revaluations of RV units +$184.7M Income tax expense

  • $6.3M

Reported net profit $356.7M

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APPENDIX 2: STATISTICS

Sales of Occupation Rights Full year Mar-17 Full year Mar-16 Existing units Independent 327 297 Serviced 391 393 718 690 New units Independent 437 400 Serviced 163 118 600 518 Portfolio and Build Rate Retirement village units Independent 4,131 3,688 Serviced 1,837 1,659 5,968 5,347 Units built 621 555 Aged Care Beds 3,281 3,121 Beds built 160 314 Total Portfolio 9,249 8,468 Total build 781 869

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APPENDIX 3: MARGIN

Full year Full year Mar-17 Mar-16 New Sales $000s $000s Reference Realised Fair Value movement – new RV units (Note 3) 62,959 62,396 Sale of occupation rights – new RV units (Key statistics) 263,282 226,215 Gross development margin % 24% 28% Resales Realised Fair Value movement – existing RV units (Note 3) 77,286 60,613 Sale of occupation rights – existing RV units (Key statistics) 311,348 272,901 Gross resales margin % 25% 22%

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APPENDIX 4: ASSET BASE

Hospital Dementia Resthome Serviced Independent Total Woodcote Christchurch

  • 49

7 18 74 Beckenham Courts Christchurch 41 24 30 58 22 175 Margaret Stoddart Christchurch

  • 41

25 20 86 Frances Hodgkins Dunedin

  • 51

32 42 125 Rowena Jackson Invercargill 70 26 61 46 103 306 Malvina Major Wellington 90

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59 117 296 Ngaio Marsh Christchurch 81

  • 30

40 119 270 Shona McFarlane Lower Hutt 59

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50 130 259 Rita Angus Wellington 49

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50 99 218 Hilda Ross Hamilton 68 40 43 51 167 369 Grace Joel Auckland 77

  • 20

80 69 246 Princess Alexandra Napier 60 24 24 54 70 232 Jane Winstone Wanganui 30

  • 39

50 54 173 Anthony Wilding Christchurch 80 33 35 50 110 308 Edmund Hillary Auckland 114 30 50 60 373 627 Julia Wallace Palmerston North 43 21 20 50 111 245 Ernest Rutherford Nelson 49 25 20 75 124 293 Jean Sandel New Plymouth 39 33 39 62 162 335 Jane Mander Whangarei 60 32 20 71 183 366 Evelyn Page Orewa 60 37 20 66 248 431 Yvette Williams Dunedin 57 30 3 32

  • 122

Kiri Te Kanawa Gisborne 46 15 34 62 79 236 Bob Owens Tauranga 40 40 40 79 218 417 Diana Isaac Christchurch 40 40 40 79 256 455 Charles Fleming Waikanae 40 40 40 79 201 400 Bruce McLaren Auckland 41 40 42 74 192 389 Bob Scott Petone 40 40 34 89 152 355 Bert Sutcliffe Auckland 40 40 40 81 106 307 Possum Bourne Pukekohe 40 40 40 82 181 383 Charles Upham Rangiora 40 40 40 93 205 418 Weary Dunlop Melbourne 30 20 32 51 200 333 Current Units & Beds 1,524 710 1,047 1,837 4,131 9,249

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APPENDIX 5: LAND BANK

Hospital Dementia Resthome Serviced Independent Total NEW ZEALAND Existing Sites Jean Sandel New Plymouth

  • 73

73 Kiri Te Kanawa Gisborne

  • 26

26 Bob Scott Lower Hutt

  • 102

102 Bert Sutcliffe Auckland

  • 151

151 Possum Bourne Pukekhoe

  • 72

72 Charles Upham Rangiora

  • 57

57 Total NZ Existing Sites

  • 481

481 New Sites Campbell Road, Greenlane Auckland 41 41 37 83 113 315 Narrow Neck Auckland 40 37 37 79 191 384 Tropicana Auckland 42 42 40 86 332 542 Site A 35 20 16 66 53 190 River Road Hamilton 40 40 40 93 248 461 Newtown Wellington 28 20 28 46 55 177 Hobsonville Auckland 40 40 40 80 250 450 Site B 40 40 40 80 173 373 Total NZ New Sites 306 280 278 613 1415 2892 Total New Zealand Landbank 306 280 278 613 1896 3373 Australia New Sites Brandon Park Melbourne 80 39 80 94 340 633 Burwood East Melbourne 40 40 40 78 163 361 Mount Eliza Melbourne 40 40 40 70 315 505 Coburg Melbourne 35 35 36 85 221 412 Geelong Melbourne 40 40 40 62 88 270 Total Australian Landbank 235 194 236 389 1127 2181 Total 541 474 514 1002 3023 5554

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APPENDIX 6: CASH MANAGEMENT FEES

Full year Full year Mar-17 Mar-16 $000s $000s Reference Accrued Management Fees – Opening (Note 4) and PY financials 227,154 191,679 Less: Accrued Management Fees – Closing (Note 4)

  • 270,370
  • 227,154

Movement in Accrued Management Fees

  • 43,216
  • 35,475

Plus: DMF income Income statement 60,988 50,632 Plus: Revenue in advance movement (Note 2) 7,670 4,951 Plus: Movement in resident loans / GST / accommodation credit Not disclosed 3,266 3,902 Cash Management Fees 28,708 24,010

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APPENDIX 7: POPULATION GROWTH 75+

5000 10000 15000 20000 25000 30000 35000 2006 - 2011 2011 - 2014 2014 - 2018 2018 - 2023 2023 - 2028 2028- 2033 2033 - 2038 Annual increase in population New Zealand Victoria