Sonida Senior Living, Inc. · NYSE:SNDA
Sonida Senior Living — Q4 2022 Earnings Presentation
13 slides from Sonida Senior Living's earnings presentation, Mar 30, 2023
Slide 1: A Leading Owner-Operator of Senior Living Communities and Services
A Leading Owner-Operator of Senior Living Communities and Services Investor Presentation - March 30, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements which are subject to certain risks and uncertainties that could cause our actual results and financial condition of Sonida Senior Living, Inc. (the “Company,” “we,” “our” or “us”) to differ materially from those indicat
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains financial measures (1) same-store Resident Revenue, (2) same-store Adjusted Operating Expenses, (3) same-store Community Net Operating Income, (4) same-store Community Net Operating Income Margin, (5) Revenue per Occupied Unit (RevPOR) and (6) R
Slide 4: Significant 2022 Accomplishments
Significant 2022 Accomplishments Team Development and Magnolia Trails Operational Efficiencies Rightsized Balance Capital Reinvestment Stability Expansion Sheet • Leadership retention at • $10M has been • Implemented • Project Shift introduced • Addressed all near-term the community and reinvested i
Slide 5: Q4 2022 Same-Store Highlights – 60 Communities
Q4 2022 Same-Store Highlights – 60 Communities Seven consecutive quarters of occupancy and revenue growth YTD Resident Revenue Occupancy up 280 and RevPAR increased bps YoY to 84.2% 8.9% and 9.2%, respectively RevPAR up 7.2% YoY RevPOR up 3.6% YoY and 1.7% from Q3 ‘22 and 1.1% from Q3 ‘22 Community
Slide 6: 2022 Financial Comparisons – 62 Owned Communities
2022 Financial Comparisons – 62 Owned Communities Y-O-Y Q4 2022 2021 Change (%) 2022 Weighted Average 82.9% 79.0% 3.9% 83.9% Occupancy RevPAR (1) $3,019 $2,810 7.4% $3,081 RevPOR (1) $3,640 $3,557 2.3% $3,674 Resident Revenue (1) $208.7 $189.8 9.9% $53.4 Adjusted Operating $167.1 $151.5 10.2% $42.8
Slide 7: Leading Operator of Senior Housing and Services
Leading Operator of Senior Housing and Services 72 ~8,000 30+ 83.9% Communities Year 2022 Q4 Weighted Avg 3,600+ Resident 62 Owned History Occupancy Employees Capacity 10 Managed 62 owned communities Attractive Markets and Resident Demographics 1 Attractive Private Pay Focus 1 15+ Communities 7,059
Slide 8: Seven Consecutive Quarters of Occupancy Growth (Same-Store)
Seven Consecutive Quarters of Occupancy Growth (Same-Store) Achieved pre-pandemic occupancy levels 84.4% 84.2% 84.2% 84.0% 84.0% 84.0% 83.8% 83.7% 83.7% 83.2% 82.9% 82.3% 82.2% 82.2% 81.5% 81.3% 81.0% 80.6% 79.7% 79.3% 78.6% 78.1% 77.4% 76.7% 76.5% 75.5% Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2
Slide 9: Revenue and Rate Initiatives
Revenue and Rate Initiatives Unit market rate reviews are underway Single lease renewal date initiative has begun • Leverage industry data by key Designated Market Areas (DMA) • Shift all residents to a single lease renewal date of March each • Utilize localized, competitive data collection for comp
Slide 10: Select Operating Expenses
Select Operating Expenses Total Labor Breakdown Food Costs per Occupied Unit $8,953,269 $9,129,417 $8,783,442 $8,790,989 $8,918,232 $8,568,772 $646K $558K $679K $626K $339K $385K 10
Slide 11: Debt Structure as of December 31, 2022
Debt Structure as of December 31, 2022 Insurance and Other Transitioned 1% Asset Debt 5% Variable Rate Debt 20% As of December 31, 2022 ($ in millions) (1) Fixed Rate Debt $ 503.3 Variable Rate Debt - fully hedged 137.7 Transitioned Asset Debt (2) 32.0 Insurance and Other 3.3 Total notes payable $ 6
Slide 12: Liquidity and Capital Resources: Cash Preservation Initiatives
Liquidity and Capital Resources: Cash Preservation Initiatives New Strategic and Operational Lower G&A Profile Loan Modification Discussions Plans Proposed restructure of current • Leaner management team • Comprehensive resident rate terms to maximize current • Support staff reductions review progra
Slide 13: Sonida Senior Living
@ SOnIDa’ SENIOR LIVING At Sonida Senior Living, we bring quality senior living to life by focusing on what matters most. We provide comfortable, safe, affordable communities where residents can form friendships, enjoy new experiences and receive personalized care from dedicated team members who tre