Regis Healthcare Ltd. · ASX:REG
Regis Healthcare — FY2015 Earnings Presentation
24 slides from Regis Healthcare's earnings presentation, Aug 28, 2015
Slide 1: Full Year Results 30 June 2015
For personal use only 28 August 2015
Slide 2: Contents
•1• For personal use only Contents 01 Business and financial highlights FY15 •2• 02 Portfolio overview and growth strategy •8• 03 Summary and outlook • 15 • 04 Appendices • 18 • Full Year Results 30 June 2015
Slide 3: Business and financial highlights FY15
ABusiness and financial highlights FY15 regis |Mealtheare
Slide 4: Financial highlights FY15
•3• Financial highlights FY15 For personal use only Financial results in line with upgraded guidance released in February 2015 FY15 highlights1 Pro forma revenue of Pro forma EBITDA of Pro forma NPAT of $439.0m $93.6m $53.1m 7.8% ahead of the 10.6% ahead of the 2.7% ahead of the FY15 FY15 prospectus
Slide 5: Business highlights – key operational statistics
•4• Business highlights – key operational statistics For personal use only Statistics for the full year reflect the strong operational result FY 2015 Key operational statistics FY20141 1H 20152 2H 20153 FY 20153 Prospectus Comment Total operational places 4,719 4,855 5,049 4,854 Reflects Darwin and
Slide 6: Earnings highlights
•5• Earnings highlights For personal use only Strong income again the key contributor to EBITDA and NPAT results ◼ Full year pro forma1 EBITDA and NPAT performance driven Significant EBITDA movements compared to principally by: prospectus forecast • Revenue per occupied bed day of $263 for the full
Slide 7: Cashflow highlights
•6• Cashflow highlights For personal use only Net cashflow underpinned by operational performance and significant net RAD inflows Strong cash flow from operating results driven by: Key cashflow movements ◼ EBITDA result 160 ◼ Net receipts from RADs of $73.6m compared to prospectus forecast of $47.0m
Slide 8: Resident profile
•7• Resident profile For personal use only The majority of residents1 are continuing to choose to pay a RAD ◼ The majority of non supported residents1 still chose to pay a Profile of accommodation payment types for incoming full RAD in 2H residents4 ◼ The Significant Refurbishment program means that
Slide 9: Portfolio overview and growth strategy
Portfolio _joverview and growth astrategy
Slide 10: Regis Healthcare portfolio update
•9• Regis Healthcare For personal use only Regis continues to execute its growth strategy Total operational places Portfolio update ◼ Regis has acquired 3 residential care facilities with 444 places since listing in 5,057 47 facilities October 2014 • The Marleston acquisition, SA on 1st July 2015 in
Slide 11: Growth strategy
• 10 • Growth strategy For personal use only Taking advantage of industry growth and consolidation to leverage existing portfolio Growth strategy 444 places ◼ Greenfield development program of multiple sites per annum acquired ◼ Expand and reconfigure existing sites since 1st July 2014 ◼ Continue ma
Slide 12: Expansion pipeline – Brownfield developments
• 11 • Expansion pipeline – Brownfield developments1 For personal use only Status of current and planned projects with capex in FY16 Total New Places Site and facility acquisition Development 102 Total places Total new places Net additional places held Provisional Land Development Allocations / appr
Slide 13: Expansion pipeline – Greenfield developments
• 12 • Expansion pipeline – Greenfield developments1 For personal use only Status of current and planned developments with capex in FY16 and FY17 Total new Site and facility acquisition places Total Net Provisional Expected First Development 844 new additional places places Land held Development app
Slide 14: Significant refurbishment update
• 13 • Significant refurbishment update For personal use only Regis has circa 750 places receiving a “Higher Accommodation Supplement” Projects completed Supported residents2 receiving the Higher Accommodation Supplement1 ◼ Regis has had 14 facilities deemed to be significantly refurbished1, for whi
Slide 15: Acquisition activities
• 14 • Acquisition activities For personal use only Regis has acquired three residential aged care facilities since October 2014 Total operational Single Average Facility Date acquired places rooms Building Age Notes Will be significantly refurbished Regis Tiwi Gardens, NT 1 November 2014 135 103
Slide 16: Summary and outlook
Summary and outlook A ARS, ale 2
Slide 17: Summary and outlook: Strong financial performance in FY15
• 16 • Summary and outlook For personal use only Strong financial performance in FY15 FY15 performance ◼ Pro forma EBITDA of $93.6m and NPAT of $53.1m due to strong operational performance: • Average revenue per resident per day was $263 compared to FY15 Prospectus forecast of $256 • Lower than fore
Slide 18: Summary and outlook: Positive FY16 Outlook
• 17 • Summary and outlook For personal use only Positive FY16 Outlook FY16 Outlook ◼ FY16 EBITDA is anticipated to be in excess of pro forma FY15, underpinned by: • Higher accommodation supplements from significantly refurbished facilities • Increased earnings contributions anticipated from the 3 s
Slide 19: Appendices
For personal use only • 18 • 04
Slide 20: Appendix A – Income Statement
• 19 • Appendix A For personal use only Income Statement Prospectus Prospectus Pro forma Pro forma Pro forma pro forma Variance Statutory statutory Variance Actual Actual Actual forecast1 Actual to Actual forecast Actual to ($ millions) 1H FY2015 2H FY2015 FY2015 FY2015 forecast % FY2015 FY2015 fore
Slide 21: Appendix B – Cashflow Statement
• 20 • Appendix B For personal use only Cashflow Statement Prospectus Prospectus Pro forma Pro forma Pro forma Pro forma Statutory Statutory actual actual actual forecast1 actual forecast ($ millions) 1H 2015 2H 2015 FY2015 FY2015 FY2015 FY2015 EBITDA 50.5 48.1 93.6 86.9 110.5 84.4 Change in net wor
Slide 22: Appendix C – Balance Sheet
• 21 • Appendix C Balance Sheet For personal use only Prospectus Pro forma Actual Statutory Actual Statutory (As at, $ millions) 30 June 2014 31 December 2014 30 June 2015 Cash and cash equivalents 40.1 72.9 60.9 Trade and other receivables 3.8 3.6 20.9 Other current assets 2.0 3.8 18.7 Total curren
Slide 23: Appendix D – Statutory to Pro forma Reconciliation
• 22 • Appendix D For personal use only Statutory to Pro forma Reconciliation Financial year ended 30 June 2015 ($ millions) Income EBITDA1 NPBT NPAT Net cash flow FY 2015 statutory results 459.62 110.5 78.1 57.5 20.6 Dementia supplement (1.1) (1.1) (1.1) (1.1) (1.1) State Revenue Office Victoria Re
Slide 24: Important Notice
• 23 • Important Notice For personal use only This presentation contains general information about the activities of Regis Healthcare Limited (Regis) which is current as at 28 August 2015. It is in summary form and does not purport to be complete. Terms and descriptions used in this presentation are