Sienna Senior Living Inc. · TSX:SIA
Sienna Senior Living — Q2 2024 Earnings Presentation
16 slides from Sienna Senior Living's earnings presentation, Aug 9, 2024
Slide 1: Q2 2024 Conference Call
Q2 2024 Conference Call August 9, 2024
Slide 2: Cautionary Note
Cautionary Note Certain information in this presentation may contain forward-looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material factors or assumptions were applied in drawing conclusions or m
Slide 3: Presenters
Presenters Nitin Jain Chief Executive Officer, President & Director David Hung Chief Financial Officer & Executive Vice President
Slide 4: The Growth Momentum Continues
The Growth Momentum Continues 6 Quarters of Consecutive 12,500 Year over Year Team Members Same Property NOI Growth 18.5% Q2 2024 Increase in Year over Year Same Property NOI Sienna Senior Living 4
Slide 5: Steady Progress Towards Stabilized Retirement Occupancy
Steady Progress Towards Stabilized Retirement Occupancy Percent Retirement Same Property Occupancy 90 89.0% 89 88.9 88.5 88.4 88.4 88.4 88.3 88.2 88.2 88 87.8 87.3 180 bps 87.2 Q2 Year over Year Increase 87 in Retirement Same Property Occupancy 86 85 Sienna Senior Living 5
Slide 6: Compelling Senior Living Fundamentals
Compelling Senior Living Fundamentals 43,000+ Projected Population Growth of Waitlist for long-term care bed 85+ Age Group in Canada in Ontario Source: Ontario Long-Term Care Association +65% 100 days+ Average wait time for long-term care bed 1.65 Million in British Columbia 85+ Population +15% 1.0
Slide 7: Leveraging a Diversified Operating Platform
Leveraging a Diversified Operating Platform Looking for ways to add more hospitality elements to Sienna’s long-term care platform, while expanding care programs at retirement residences. Distinguishing Sienna as a Senior Living Provider of Choice Sienna Senior Living 7
Slide 8: Development Progress
Development Progress Northern Heights Community Northern Heights Community North Bay, Ontario – Summer 2023 North Bay, Ontario – Summer 2024 Q1 vs. Q2 Campus of Care Campus of Care Brantford, Ontario – Summer 2023 Brantford, Ontario – Summer 2024 Wall Signing Northern Heights Community North Bay, On
Slide 9: Creating Alignment Through Signature Programs
Creating Alignment Through Signature Programs SPARK – allows team members to share SOAR - Sienna’s share ownership and ideas on how Sienna can grow, improve reward program, awarding company and fulfil its purpose shares to permanent employees ~7,000 # of Active Participants Winners of 2024 SPARK Awa
Slide 10: Operating & Financial Results
Operating & Financial Results
Slide 11: Q2 Operating Results
Q2 Operating Results Q2 2024 Q2 2023 Total Adjusted Revenue $219.5M $198.3M +10.7% Long-term care operations benefitting from government funding increase, higher preferred revenues, Total Same Property $46.1M $38.9M and a one-time WSIB refund Net Operating Income (“NOI”) +18.5% Retirement operations
Slide 12: Q2 Funds From Operations
Q2 Funds From Operations Q2 2024 Q2 2023 OFFO benefitting form higher NOI Operating Funds from $26.1M $21.4M +21.6% Operations (“OFFO”) AFFO increase as a result of higher OFFO, offset partly by higher $0.357 $0.294 maintenance capital expenditure and OFFO per share +21.4% a decrease in construction
Slide 13: Strong Financial Position
Strong Financial Position 5.5 years $235M Weighted Average Term to Maturity $297M Liquidity Series A Unsecured Debt Maturities $193M Debentures $176M $176M $1.0B Series B Unsecured $136M Debentures Unsecured Debentures Unencumbered Assets Series C 43.7% $58M $45M Debt to Adjusted 2024 2025 2026 2027
Slide 14: Creating Community
Creating Community For more information on Sienna’s ESG initiatives, please refer to the ESG section on Sienna’s website under https://www.siennaliving.ca/investors/esg Sienna Senior Living 14
Slide 15: Outlook
Outlook Retirement 2024 SP NOI Expected to grow in high single digit percentage range Long-Term Care 2024 SP NOI Expected to grow in low double digit percentage range* * excluding one-time and retroactive funding amounts of $23.7 million related to prior years 15
Slide 16: Contact Information
Contact Information David Hung Chief Financial Officer and Executive Vice President t: (905) 489-0258 e: david.hung@siennaliving.ca Nancy Webb Senior Vice President, Public Affairs & Marketing t: (905) 489-0788 e: nancy.webb@siennaliving.ca