Healthco Healthcare & Wellness Reit · ASX:HCW
Healthco Healthcare & Wellness Reit — FY2025 Earnings Presentation
28 slides from Healthco Healthcare & Wellness Reit's earnings presentation, Aug 15, 2025
Slide 1: FY25 Results Presentation
HealthCo Healthcare & Wellness REIT FY25 Results Presentation 15 August 2025
Slide 2: Acknowledgement of Country
Acknowledgement of Country HealthCo acknowledges the Traditional Custodians of Country throughout Australia and celebrates their diverse culture and connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait
Slide 3: Agenda
Agenda 01 02 03 04 05 06 Results Healthscope Portfolio Developments Financial Outlook Overview Update Update Results Christian Soberg Sid Sharma HCW HMC Capital Fund Manager Managing Director, Real Estate 3
Slide 4: Results Overview
01 Results Overview 4 The George Private Hospital (Sydney)
Slide 5: FY25 summary
FY25 summary Prudent capital management and focus on resolving the Healthscope situation Financials Capital management Portfolio Operations 6.6 cents 31% $1.5bn 98% FFO/unit Pro-forma gearing1 Portfolio valuation Contracted rent collection3 -18% vs FY24 Lower end of target range 4.2 cents $80m 5.68%
Slide 6: Healthscope Update
02 Healthscope Update 6 Knox Private Hospital (Melbourne)
Slide 7: Healthscope portfolio overview
Healthscope portfolio overview Portfolio of 11 private hospitals in metro locations with over 366,000 patient episodes in CY24, representing ~53% of HCW’s income1 Portfolio summary2 HSO portfolio valuation ($m)3 Northpark (VIC) VRC (VIC) Pine Rivers (QLD) Knox (VIC) Valuation gain: +$80m net valua
Slide 8: Healthscope update
Healthscope update HCW/UHF are working proactively with the Receiver in relation to the current Healthscope sale process to replace Healthscope as the tenant across the portfolio May-25 Two non-operating HSO entities enter into Receivership Feb-23 Aug-23 Oct-23 May-24 Oct-24 Jan-25 Oct-25 $1.2bn por
Slide 9: Portfolio update
03 Portfolio update 9 Springfield (Brisbane)
Slide 10: Portfolio overview
Portfolio overview Diversified portfolio of private hospitals and health infrastructure assets with long lease expiry profile of 11.5 years Portfolio metrics Portfolio subsectors – income split and key tenants1,8 Number of properties 26 61% 19% 8% 4% Portfolio valuation1 $1,483m Private Primary & Go
Slide 11: Portfolio subsectors
Portfolio subsectors HCW has a $1.5bn portfolio that provides exposure to healthcare subsectors that are underpinned by powerful megatrends Private Hospitals Nursing College and Health Hub One of Queensland’s largest healthcare Private hospital operator in the greater Sydney services providers Metro
Slide 12: Portfolio metro locations
Portfolio metro locations 96% of the HCW portfolio is located in metro areas with strong population growth across Australia’s four largest capital cities1,2,3 Sydney Melbourne Brisbane, Gold Coast and Sunshine Coast 33% 32% 24% of portfolio of portfolio of portfolio Northpark Vitality Village Ringwo
Slide 13: Sustainability update
Sustainability update Continued progress with ESG initiatives that deliver a positive social impact Environment Social Governance Real estate platform on track to achieve ~32% 67% gender diversity achieved for independent Clear and transparent governance processes reduction in scope 1 and scope 2 em
Slide 14: Developments
04 Developments 14 Proxima (Gold Coast)
Slide 15: Completed developments
Completed developments Proxima and the Mount Private Hospital expansion were completed in FY25 Proxima (Gold Coast) Mount Private Hospital (Perth)1 $84m health hub adjacent to Gold Coast University Hospital, one of the $24m brownfield development of a significant private hospital in Perth larges
Slide 16: Development pipeline update
Development pipeline update HCW will only seek to unlock its ~$500m development pipeline1 once the Healthscope situation has been resolved and funding partners have been secured Rouse Hill (Sydney) Private Hospital Adjacent to new $910m Public Hospital ~$150m 100% 6-7% Estimated capex1 HCW ownership
Slide 17: Financial Results
05 Financial Results 17 Campbelltown Private Hospital (Sydney)
Slide 18: Earnings summary
Earnings summary FY25 FFO of 6.6cpu and DPU of 4.2c with the financial result impacted by the suspension of distributions from UHF in H2 FY25 $m FY24 FY25 FFO FY25 FFO of 6.6 cpu Property NOI 64.5 58.0 The financial result is consistent with previous guidance3 when UHF Distribution1 14.5 10.0 ad
Slide 19: Balance sheet
Balance sheet $1.5bn consolidated investment property portfolio with NTA of $1.44/unit $m Dec-24 Jun-25 Investment Properties Cash and cash equivalents 5.5 40.5 Consolidated portfolio of $1.5bn7 as at Jun-25, with 72% of the portfolio Trade and other receivables 8.8 1.7 independently valued, inclu
Slide 20: Capital management
Capital management Gearing at the lower end of the target range and compliant with all debt covenants Debt facilities summary ($m) Dec-24 Jun-251 Asset recycling update HCW has exchanged on 3 GenesisCare facilities (Chermside, Liquidity Wembley and Southport) post the Jun-25 balance sheet date Sen
Slide 21: Outlook
06 Outlook 21 Nepean Private Hospital (Sydney)
Slide 22: FY26 outlook
FY26 outlook Key focus remains to resolve the Healthscope situation and narrow the discount to NTA FY26 outlook HCW’s investment thesis HCW’s conviction in healthcare real state remains strong with long term growth underpinned by powerful megatrends – including a growing and 1 Healthscope tenancy
Slide 23: Appendix
Appendix Additional information 23 Morayfield (Brisbane)
Slide 24: Portfolio summary (Jun-25)
Portfolio summary (Jun-25) Diversified healthcare real estate portfolio with a total value of $1.5bn1 WALE Asset State Fair Value ($m) Cap Rate (%) Site Area (sqm) Occupancy3 (by income)2 Hospitals Camden NSW 100.0 5.13% 8,036 12.5 100% The Geelong Clinic VIC 42.0 6.00% 14,935 13.8 100% Northpark Pr
Slide 25: Additional financial information
Additional financial information FFO reconciliation $m FY24 FY25 Funds from operations (FFO) 45.3 36.5 FFO adjustments: Loss on deconsolidation (26.4) - Fair value movements - investment properties (19.0) (61.2) Fair value movements – derivatives (4.5) (5.5) Share of profit/(loss) of equity accounte
Slide 26: Contacts
Contacts Investors and Analysts Media Christian Soberg John Frey HCW Corporate communications Fund Manager +61 411 361 361 +61 450 417 712 john@brightoncomms.com.au christian.soberg@hmccapital.com.au Authorised for release by the Board of HCW Funds Management Limited 26 Level 31, 1 Macquarie Place,
Slide 27: Disclaimer
Disclaimer This presentation (Presentation) has been prepared by HCW Funds Management Limited (ABN 58 104 438 100, AFSL 239882) (Responsible Entity) as responsible entity of HealthCo Healthcare & Wellness REIT (652 057 639). Summary information This Presentation contains summary information about th
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