Business
Sienna Reports First Quarter 2025 Financial Results and Continues Platform Expansion
MARKHAM, Ontario, May 06, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“ Sienna ...
About this update from Sienna Senior Living Inc.
[{"type":"text","content":"Sienna Reports First Quarter 2025 Financial Results and Continues Platform Expansion\n\n\n\n MARKHAM, Ontario, May 06, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“\n \n Sienna\n \n ” or the “\n \n Company\n \n ”) (TSX: SIA) today announced its financial results for the three months ended March 31, 2025.\n \n\n\n\n Q1 2025 Highlights\n \n\n\n\n\n\n Average Same Property Occupancy\n \n in retirement segment up 260 basis points (“bps”) year-over-year to 92.5% in Q1 2025\n \n\n\n Total Adjusted Revenue,\n \n excluding One-Time Items increased by 12.1% in Q1 2025, to $241.8 million\n \n\n\n Total Adjusted Same Property Net Operating Income (“NOI”),\n \n excluding One-Time Items up 8.5% to $42.5 million in Q1 2025\n \n\n\n Retirement Segment\n \n up 16.7% year-over-year in Q1 2025\n \n\n\n Long-Term Care (“LTC”) Segment\n \n up 2.2% year-over year in Q1 2025\n \n\n\n\n\n OFFO per share,\n \n excluding One-Time Items increased by 8.3% in Q1 2025 to $0.287\n \n\n\n Raised $144 million in equity\n \n on February 27, 2025\n \n\n\n Increased liquidity to $\n \n\n 445.0\n \n\n million\n \n as at March 31, 2025\n \n\n\n Completed over $250 million in acquisitions\n \n to date in 2025 with significant pipeline of opportunities\n \n\n\n Signed $85.3 million purchase agreement\n \n for Hazeldean Gardens Retirement Residence in Ottawa\n \n\n\n “Sienna continues its strong growth momentum, with our key performance indicators continuing to move in a positive direction,” said Nitin Jain, President and Chief Executive Officer. “We are confident to sustain this ongoing trend well into the future. Rising demand from an aging population coupled with constrained supply, the continued strength of our operations, and our ability to execute on acquisitions and development projects are all contributing to our optimistic outlook. During a time of broader economic uncertainty, the Canadian senior living sector continues to demonstrate stability, resilience and opportunity for growth.”\n \n\n\n\n Growth momentum continues\n \n\n\n Sienna continued its growth momentum and successfully completed three previously announced acquisitions to date in 2025, with a number of additional opportunities under contract or in advanced stages of negotiation. Ea...