Slide 1: Delivering Best-in-Class Services & Growing Long-Term Value
DELIVERING BEST-IN-CLASS SERVICES & GROWING LONG-TERM VALUE 2020 First Quarter Results Conference Call May 15, 2020 NON-GAAP MEASURES “EBITDA”, “Adjusted EBITDA”, “net operating income” (NOI), “funds from operations” (FFO), and “adjusted funds from operations” (AFFO) are non-GAAP measures and do not
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of applicable Canadian securities laws (“forward-looking statements” or “forward-looking information”). Statements other than statements of historical fact contained in this presentation may b
Slide 3: COVID-19 Update
COVID-19 UPDATE ♦ Care and wellbeing of our residents, clients and staff remains our top priority ♦ Sincere appreciation for our staff for their commitment and dedication ♦ We applaud government pandemic premium pay programs provided to our well deserving staff ♦ We are continuously adapting our res
Slide 4: 2020 First Quarter Results
2020 FIRST QUARTER RESULTS ♦ Increased Revenue and NOI in LTC, Retirement and SGP/Assist segments ♦ ParaMed volume declines and higher operating costs offset gains in other segments ♦ COVID-19 impacts: ♦ Lower home health care volumes ♦ Increased operating costs (wages and supplies) ♦ Lower occupanc
Slide 5: ParaMed – Transformation "Paused"
PARAMED – TRANSFORMATION “PAUSED” ♦ Year over year increase in weekly volumes in Ontario in Q1 prior to COVID-19 impact ♦ COVID-19 impact significant on volumes and higher back office costs ♦ Technology deployment paused ♦ Cloud-based system will improve scheduling efficiency, improve staff retentio
Slide 6: Long-Term Care – Stable Foundation
LONG-TERM CARE – STABLE FOUNDATION ♦ Government funded revenue provides stability ♦ Ontario announced minor capital program to Average Occupancy replace structural compliance funding beyond 100% April 1 95% ♦ Evaluating various provincial COVID-19 funding 90% announcements to address increased opera
Slide 7: Retirement Living – COVID-19 Impacting Stabilized Occupancy
RETIREMENT LIVING – COVID-19 IMPACTING STABILIZED OCCUPANCY ♦ COVID-19 led to lower occupancy at the end of Q1 ♦ Restrictions on move-ins and tours by prospective residents have impacted occupancy Stabilized Portfolio (occupancy at period end) ♦ Stabilized occupancy down 230 bps since year end to 92
Slide 8: Contract Services and Group Purchasing – Growing SGP Network
CONTRACT SERVICES AND GROUP PURCHASING – GROWING SGP NETWORK ♦ 9.6% revenue growth in Q1 2020 over prior year ♦ Growth in SGP market presence, now SGP (3rd party residents) representing 73,000 senior residents across 80,000 70,000 Canada (12.5% increase in Q1 2020 vs. Q4 2019) 60,000 50,000 40,000 ♦
Slide 9: Financial Review
FINANCIAL REVIEW FINANCIAL REVIEW 9
Slide 10: Consolidated Results
CONSOLIDATED RESULTS Three months ended March 31, 2020 and 2019 ($ millions) Revenue (1) Adjusted EBITDA and Margin Q1 2020 Q1 2019 Change Q1 2020 Q1 2019 Change $268.8 $262.7 2.3% $19.9 $19.6 1.8% 7.3% 7.1% 20 bps NOI and Margin (1) AFFO and Payout Ratio Q1 2020 Q1 2019 Change Q1 2020 Q1 2019 Chang
Slide 11: Home Health Care
HOME HEALTH CARE March 2020 (excluding B.C. operations) Revenue ♦ Revenue and NOI impacted by significant decline in daily volumes late in Q1 and Q1 2020 $90.1M -1.1% higher back office operating costs ♦ Volumes down 2.5% from Q4 2019 NOI ♦ ParaMed Transformation expected to Q1 2020 $4.3M -45.2% imp
Slide 12: Long-Term Care
LONG-TERM CARE March 2020 Revenue ♦ Revenue up due to funding enhancements and timing of flow-through envelope Q1 2020 $160.2M 2.6% spending, COVID-19 funding and leap year impact in Q1 2020 NOI ♦ Revenue increases offset, in part, by higher operating and labour costs and COVID-19 Q1 2020 $18.4M 9.5
Slide 13: Retirement Living
RETIREMENT LIVING March 2020 Revenue ♦ Revenue and NOI growth driven by increase in same-store occupancy and contribution Q1 2020 $12.0M 26.6% from The Barrieview opened in Q4 2019 NOI ♦ Douglas Crossing (Uxbridge, ON) and Yorkton Crossing (Yorkton, SK) moved from Q1 2020 $3.7M 43.8% lease-up to sta
Slide 14: Other Canadian Operations
OTHER CANADIAN OPERATIONS March 2020 Revenue ♦ Revenue growth of 9.6% Q1 2020 $6.4M 9.6% ♦ 27.8% increase in SGP clients served NOI since Q1 2019 Q1 2020 $3.9M 14.8% margin 60.9% 280 bps ♦ NOI increased with higher number of clients, partly offset by higher costs to Contract Services support the ope
Slide 15: Strong Financial Position
STRONG FINANCIAL POSITION March 2020 Long-term EBITDA interest Debt to Weighted Debt (1) Cash coverage GBV average rate $568.0M $105.8M Q1 2020 3.1x 49.3% 4.6% Q4 2019 3.1X 49.0% 4.7% Pro forma Debt Maturities (2) ($ millions) Construction (3) Lease Liabilities Mortgage Amortization Mortgage Princip
Slide 16: Compelling Growth Opportunities Across the Care Continuum
COMPELLING GROWTH OPPORTUNITIES ACROSS THE CARE CONTINUUM B2C: direct services to seniors LONG-TERM CARE HOME HEALTH CARE RETIREMENT LIVING 58 >9M 11 Long-term care Home health care Retirement communities homes owned hours delivered (TTM) owned B2B: contract & consulting services GROUP PURCHASING CO
Slide 17: Thank You
THANK YOU 17