Radius Residential Care Ltd · NZX:RAD
Radius Residential Care — FY2024 Earnings Presentation
31 slides from Radius Residential Care's earnings presentation, Aug 1, 2026
Slide 1: Investor Presentation Full Year Result FY24
Investor Presentation Full Year Result FY24
Slide 2: Presenting Today
Presenting Today Andrew Peskett Chief Executive Officer Jeremy Edmonds Chief Financial Officer BA (Hons), LLB BA, BCom, CA FY24 Investor Presentation 2
Slide 3: Agenda
Agenda Overview of FY24 Delivered record operating and financial Performance performance Analysis of Record EBITDA and cashflow, demonstrating Result our leadership in specialist care offerings Industry headwinds have now substantially Industry Update passed Positioning Strategy update Radius Care A
Slide 4: About Radius Care
About Radius Care Radius Care is a leading provider of essential healthcare services to elderly Our offerings in relation to the continuum of care New Zealanders in communities across the country. DHB assessed care and increasing acuity Radius Care is focused on the high Low acuity High acuity and s
Slide 5: Overview of FY24 Performance
Overview of FY24 Performance DELIVERED STRONG OPERATING PERFORMANCE ACROSS THE GROUP Radius Althorp - Tauranga
Slide 6: FY24 Business Highlights
FY24 Business Highlights ANOTHER RECORD FULL YEAR PERFORMANCE Strong Operating Performance Fully Staffed • Record full year trading with 47% increase in • 1700 exceptional team members delivering Underlying EBITDA1. exceptional care in our fully staffed care homes. • Strong resale gains at villages
Slide 7: FY24 Financial Highlights
FY24 Financial Highlights Financial Performance Balance Sheet Position • Underlying EBITDA $20.9m, 47% • Total assets of $334.7m. up on FY23 • Investment properties • Operating Cashflow of $14.1m, up of $73.5m, up $3.4m 249% from $4.0m in FY23. from FY23. • AFFO1 of $7.4m, up 87% from • Net Debt of
Slide 8: Our People
Our People Employee engagement up significantly on a year ago. 60% of Facility Managers were promoted from within Radius Care. Last five audits have achieved the maximum four years certification, with two more expected (pending confirmation). Over 100 Registered Nurses have completed our “EPEC” inte
Slide 9: Analysis of Result
Analysis of Result RECORD EBITDA AND CASHFLOW DEMONSTRATING OUR LEADERSHIP IN SPECIALIST CARE OFFERINGS Radius St Helenas FY24 Investor Presentation 9
Slide 10: Financial Performance Overview
Financial Performance Overview Continued strong occupancy, improved Underlying EBITDA Underlying EBITDAR per Care Bed 1 Hospital bed mix and Market leading returns Underlying EBITDA of $20.9m, up 47% vs pcp successful execution of business improvement programme have 30.0 25.0 materially lifted Under
Slide 11: Strong Revenue Growth
Strong Revenue Growth Continued strong occupancy, improved Hospital and Specialised Total Revenue 1 Care bed mix and strong Accommodation Supplements growth in FY24 total revenue of $171.2m up 17% vs pcp Accommodation Supplements have 11.0 contributed to total 180.0 revenue growth of 17%. 10.0 160.0
Slide 12: Dividends and AFFO
Dividends and AFFO Available Funds From Operations ($m) AFFO of $7.4m, up 87% on the $4.0m earned in FY23. Dividends 8.0 FY24 final dividend of 0.70 cents per share, including full imputation credits of 0.27 cents per share, was 7.0 paid on 16 May 2024. 6.0 The payout ratio for the dividend is 27% o
Slide 13: Balance Sheet and Net Debt
Balance Sheet and Net Debt $3.5m in available headroom with average term of 2.8 years Drawn Debt & Net Debt % of Debt Term > 2 years 120.0 100% 100.0 80% 80.0 60% $m 60.0 100% 97.7 100.1 40% 40.0 75.9 73.5 65% 20.0 20% 0.0 0% FY23 FY24 FY23 FY24 Drawn Debt Net Debt FY24 Investor Presentation 13
Slide 14: One-off Deferred Tax Adjustment
One-off Deferred Tax Adjustment Government Decision to Remove Tax Deductability of Depreciation on Commercial Buildings • On 28 March 2024, the NZ Government legislated the removal of tax deductibility of depreciation on commercial buildings, with effect from the year ended 31 March 2025. • Followin
Slide 15: Industry update
Industry update Radius St Helenas FY24 Investor Presentation 15 Radius Taupaki Gables - Auckland
Slide 16: Industry Update
Industry Update New Zealand has three clear favourable long-run tailwinds that will underpin high occupancy and organic growth. Covid and immigration associated Aging population1 Supply shortfall2 staffing shortages ▪ NZ population aged >65 years forecast to grow ▪ Supply growth in New Zealand has b
Slide 17: Strategy Update
Strategy Update FY24 Investor Presentation 17 Radius Althorp - Tauranga
Slide 18: Strategy Update
Strategy Update Strategic Pillar 1 Strategic Pillar 1 Grow Scale Diversify Revenue Grow Scale Radius Way Grow Scale Grow RConnect Develop Radius Way as a Targeted M&A template for aged care Brownfield development Expand Radius Shop services Greenfield development Expand health services beyond core a
Slide 19: Outlook
Outlook Radius Care expects continued growth in Underlying EBITDA and other metrics in FY25. The Board is targeting a return to the previous cycle of an interim dividend paid in December and a final dividend paid in June. FY24 Investor Presentation 19 Radius Millstream - Ashburton
Slide 20: Appendices
Appendices FY24 Investor Presentation 20 Radius Taupaki Gables - Auckland
Slide 21: Strong Portfolio for Changing Demographics
APPENDIX 1 Strong Portfolio for Changing Demographics The Radius Care growth pipeline provides unique exposure to a high acuity, specialised care provider that remains committed to and focused on delivering compassionate and outstanding clinical care outcomes. With an absolute focus on our core busi
Slide 22: National aged care focused portfolio
APPENDIX 2 National aged care focused portfolio with strong regional presence, owing 12 and leasing 11 of the 23 sites nationwide At a Glance 1,789 148 Care Beds ILUs 1,700+ Employees ILUs are Independent Living Units FY24 Investor Presentation 22
Slide 23: Key operational and financial metrics
APPENDIX 3 Key operational and financial metrics Operating Metrics DMF terms for Retirement Village units FY24 FY23 FY22 FY21 Number of Care Beds (period end)1 1,789 1,889 1,784 1,715 • 30% over three years Average Care Bed Occupancy2 91.8% 91.8% 92.5% 92.4% • average resident tenure is 4.3 years Un
Slide 24: Statement of Comprehensive Income
APPENDIX 4 Financials ($000) FY24 FY23 Revenue Statement of Revenue 168,739 144,467 Comprehensive Income Deferred management fees 2,495 1,801 Total revenue 171,234 146,268 • Revenue up 17% to $171.2m. Change in fair value of investment property 2,703 765 • Underlying EBITDA up 47% to Government subs
Slide 25: Statement of Financial Position
APPENDIX 5 ($000) FY24 FY23 Assets Financials Cash and cash equivalents 2,350 515 Trade and other receivables 15,002 13,071 Statement of Held for sale assets - 891 Inventories 554 753 Financial Position Current tax assets - 1,321 Investment properties 73,528 70,143 • Investment properties of Propert
Slide 26: Statement of Cash Flows
APPENDIX 6 ($000) FY24 FY23 Cash flows from operating activities Financials Receipts from residents for care fees and village fees Receipts of Government subsidy 168,430 - 140,699 1,269 Statement of Cash Flows Payments to suppliers and employees (147,285) (124,697) Proceeds from the sale of Refundab
Slide 27: Underlying Earnings and AFFO Calculation
APPENDIX 7 ($000) FY24 FY23 Financials Net Profit Before Tax 3,599 (2,984) Underlying Earnings Remove: Change in fair value of investment property (2,703) (765) and AFFO Calculation Remove: Gain on acquisition of previously leased properties - (1,781) Remove: Gain on business acquisition - (927) Rem
Slide 28: Directory of care homes
APPENDIX 8 Directory of care homes OWNED LEASED TOTAL CARE FACILITY LOCATION UNITS FACILITY LOCATION CARE BEDS FACILITY CARE BEDS UNITS BEDS St Helenas Christchurch 52 - Kensington Hamilton 96 Leased 923 - Thornleigh Park New Plymouth 87 - Potter Home Whangarei 55 Owned 866 148 Lexham Park Katikati
Slide 29: Bed Mix
APPENDIX 9 Bed Mix ~85% of Radius Care beds are certified for high acuity Care Bed FY24 14.8% 44.4% 24.0% 10.4% 5.5% 0.8% 87% of the Type portfolio are beds certified for high acuity and specialist care ~78% high acuity and specialist with significant flexibility of care. Industry 22.5% 44.2% 15.5%
Slide 30: Important Notice and Disclaimer
Important Notice This presentation has been prepared by Radius Residential Care Limited (“Radius Care”), for informational purposes. This disclaimer applies to and Disclaimer this document and the verbal or written comments of any person presenting it. This presentation sets out information relating
Slide 31: Thank You
Thank You FY24 Investor Presentation 31
Radius Residential Care — FY2024 Earnings Presentation on 6ix