Healthco Healthcare & Wellness Reit · ASX:HCW
Healthco Healthcare & Wellness Reit — FY2024 Earnings Presentation
29 slides from Healthco Healthcare & Wellness Reit's earnings presentation, Aug 12, 2024
Slide 1: HealthCo Healthcare & Wellness REIT FY24 Results
HealthCo Healthcare & Wellness REIT FY24 Results 12 August 2024
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
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Agenda 1 2 3 Results Portfolio Developments overview overview 4 5 Financial Guidance and results outlook Christian Soberg Sid Sharma Andrew Dodds HCW HMC Capital Corporate Finance and
Slide 4: 1. Results overview
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Knox Private Hospital (Melbourne) ▪ Private hospital ▪ Key tenant: Healthscope 1. Results overview 3
Slide 5: FY24 highlights
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx FY24 highlights FFO/unit of 8.0 cents, representing growth of +16%, consistent with guidance Financial 8.0 cents 8.0 cents $1.64 32.5% FFO per unit DPU NTA / unit GEARING +16% vs. FY2
Slide 6: Investment strategy
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Investment strategy HealthCo’s objective is to deliver growing distributions and long-term capital growth STRONG OPERATIONAL LONG-TERM STRUCTURAL DEMAND ACCRETIVE DEVELOPMENT FUNDAMEN
Slide 7: Healthscope update
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Healthscope update HealthCo is in a strong financial and legal position with strong rent cash coverage across all 11 HCW / UHF owned assets 1 The portfolio represents critical Austral
Slide 8: 2. Portfolio overview
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Northpark Private Hospital (Melbourne) ▪ Private hospital ▪ Key tenant: Healthscope 2. Portfolio overview 7
Slide 9: Portfolio overview
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Portfolio overview $1.6bn institutional grade portfolio of private hospitals and health infrastructure assets with growth underpinned by an ageing and growing population Portfolio ove
Slide 10: HealthCo's assets are critical in the delivery of healthcare
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx HealthCo’s assets are critical in the delivery of healthcare services to Australians and are leased to leading operators Knox Private Hospital (Melbourne) The George Private Hospital
Slide 11: Portfolio weighted to metropolitan locations
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Portfolio weighted to metropolitan locations 93% of the portfolio is located in metro areas with strong population growth across Australia’s four largest capital cities1 Sydney Melbou
Slide 12: Strategic investment in the Unlisted Healthcare Fund (UHF)
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Strategic investment in the Unlisted Healthcare Fund (UHF) HMC Capital secured $650m of equity commitments for UHF in FY24, including 4 global institutional investors ▪ UHF invests in
Slide 13: $200m asset recycling program
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx $200m asset recycling program Strong progress on asset recycling with proceeds reinvested into higher yielding opportunities whilst maintaining gearing at the lower end of 30-40% targ
Slide 14: Sustainability at HealthCo
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Sustainability at HealthCo HealthCo is serving Australian communities by facilitating access to essential health and wellbeing services that deliver a positive social impact1 Environm
Slide 15: 3. Developments
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Proxima (Gold Coast) ▪ Government / Healthcare hub ▪ Key tenant: Queensland State Government 3. Developments 14
Slide 16: Development track record
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Development track record Proven brownfield and greenfield development capability, completing ~$300m of projects since IPO in Sep-211 The George Private Hospital (Sydney) Nepean Privat
Slide 17: Reinvesting in healthcare infrastructure at attractive returns
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Reinvesting in healthcare infrastructure at attractive returns ~$540m+ future development pipeline1 Healthscope portfolio Camden Stages 2/3 (Sydney) Rouse Hill (Sydney) Mount Private
Slide 18: 4. Financial results
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Springfield (Brisbane) ▪ Nursing college / health hub ▪ Key tenant: Mater 4. Financial results 17
Slide 19: Earnings summary
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Earnings summary FY24 FFOpu of 8.0c and DPU of 8.0c consistent with guidance FFO $m FY23 FY24 ▪ FY24 FFO of 8.0 cpu consistent with FY24 guidance Property NOI 41.4 64.5 – Represents +
Slide 20: Balance sheet
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Balance sheet $1.6bn consolidated investment property portfolio with NTA at $1.64/unit $m Jun-23 Dec-23 Jun-24 Investment properties ▪ Consolidated investment property portfolio of $1
Slide 21: Capital management
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Capital management Gearing at the lower end of the 30-40% target range with 78% of debt hedged Liquidity Debt facilities summary Jun-23 Dec-23 Jun-24 ($m) ▪ $88.5m of liquidity as at
Slide 22: 5. Guidance and outlook
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Nepean Private Hospital (Sydney) ▪ Private hospital ▪ Key tenant: Healthscope 5. Guidance and outlook 21
Slide 23: FY25 guidance
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx FY25 guidance FY25 FFO/unit and DPU of 8.4 cents, representing 5% growth YoY ▪ FY25 FFO/unit and DPU of 8.4 cents, representing +5% growth YoY1 Continued earnings – Driven by contract
Slide 24: Appendix – Supplementary information
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Knox Private Hospital (Melbourne) ▪ Private hospital ▪ Key tenant: Healthscope Appendix – Supplementary information 23
Slide 25: HealthCo portfolio
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx HealthCo portfolio High quality and diversified portfolio with a total value of $1.6bn1 WALE # Asset State Fair Value ($m) Cap Rate (%) Site Area (sqm) Occupancy3 (by income)2 Hospita
Slide 26: Additional financial information
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Additional financial information FY24 FFO of 8.0cpu consistent with guidance $m FY23 FY24 Loss on deconsolidation ($m) Funds from operations (FFO) 25.5 45.3 Net assets of UHF (100%) 7
Slide 27: Healthscope portfolio overview
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Healthscope portfolio overview $1.5bn portfolio of 11 private hospitals in metro locations providing critical medical/surgical healthcare services, with 373,000 patient episodes in CY
Slide 28: Contacts
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx Contacts Investors and Analysts Media Andrew Dodds Christian Soberg John Frey HMC Capital HCW Corporate communications Corporate Finance and Fund Manager HMC Capital Investor Relation
Slide 29: Disclaimer
IBDROOT\PROJECTS\IBD-HK\KAURY2017\605978_1\IPO\Cornerstone presentation\2019.09.09 Amalfi Investor Presentation.pptx 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
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