Promisia Healthcare Limited · NZX:PHL
Promisia Healthcare — Shareholder Meeting (2021)
23 slides from Promisia Healthcare's shareholder meeting presentation, 2021
Slide 1: Promisia Healthcare Limited FY21 Annual Meeting
Promisia Healthcare Limited FY21 Annual Meeting For the 15 months ended 31 March 2021 Reflects five months of operation as an aged care business (from 1 November 2020) 1
Slide 2: Transaction and Capital Changes
TRANSACTION AND CAPITAL CHANGES 19 December 19 3 October 20 2 December 21 22 February 21 Announced Successful Announced Announced Share proposed completion of change of balance Purchase Plan. acquisition of debt and equity date to 31 March Completed aged care facilities raisings to fund successfully
Slide 3: FY21 Operational Highlights and Progress Against Strategic Objectives
PROGRESS AGAINST FY21 FY21 OPERATIONAL PROGRESS AGAINST FY21 STRATEGIC OBJECTIVES HIGHLIGHTS STRATEGIC OBJECTIVES • 30 October 2020: PIL acquisition of aged Complete the transaction and ensure care facilities completed integration of systems • 9 December 2020: Tom Brankin Focus on cost efficienc
Slide 4: Our Portfolio
OUR PORTFOLIO Ranfurly Manor Feilding Eileen Mary Dannevirke Promisia has a portfolio of four aged care Beds 162 Beds 58 facilities comprising 299 beds and 11 Villas 6 Villas 5 independent living villas. Staff 168 Site Owned Staff 58 Attractive Locations: Site Owned Nelson Street Located in well est
Slide 5: Aldwins House, Nelson Street, Eileen Mary, Ranfurly Manor
Aldwins House, Christchurch Eileen Mary, Dannevirke Nelson Street, Feilding Ranfurly Manor, Feilding 5
Slide 6: Our Care Philosophy
OUR CARE PHILOSOPHY To deliver personalised care that focuses on respecting and helping residents THE INDIVIDUAL: Care tailored to individual needs. Supporting and enriching the lives of all individuals. Treating people with compassion and understanding. Value the uniqueness of each person. QUALITY
Slide 7: Our Growth Strategy
OUR GROWTH STRATEGY 7
Slide 8: Growth Drivers
GROWTH DRIVERS BROADEN REVENUE MIX • Broaden mix of recurring revenue streams (rest home/hospital care/dementia), and build revenue from sale of retirement village ORAs • Incremental revenue following the opening of Aldwins House, Christchurch DEVELOPMENT ACTIVITY • Development of existing facilitie
Slide 9: Broaden Revenue Mix
BROADEN REVENUE MIX Increase the number of retirement villas to Broaden the range of services offered at facilities grow revenue from sale of retirement and increase the number of beds requiring higher village ORAs levels of care and revenue (hospital and dementia) where there is local demand Bed Ty
Slide 10: Growth of revenue through maximising occupancy
Growth of revenue through maximising occupancy Aldwins House, Christchurch opened in December 2020 • Existing facility, refurbished and strengthened following Christchurch earthquake • Long term lease from 1 March 2020 • Option to purchase the Aldwins property for $11m, expired but parties in discus
Slide 11: Current Development Opportunities
CURRENT DEVELOPMENT OPPORTUNITIES Existing landbank and facility development opportunities: Provincial locations offer: Ranfurly Manor: • 1 hectare adjoining land. 32 villas and 10 apartments. Project underway • Lower land cost Eileen Mary: • Generally lower operating • Site potential for 5 villas c
Slide 12: Acquisition Strategy
ACQUISITON STRATEGY Pursue acquisition opportunities based on quality, geographic and cultural fit, demand for services, growth potential and contribution to profitability. PROVINCIAL AREAS • Further growth opportunities through the acquisition of other aged care facilities, particularly in provinci
Slide 13: Brownfield Development: Ranfurly Manor
BROWNFIELD DEVELOPMENT: RANFURLY MANOR • Largest aged care provider in Feilding Development Plan • Brownfield: 1 hectare of adjoining land Total 204 units and beds • Existing facility capacity: 162 beds 250 • Development: 32 villas and 10 apartments 200 • PHL acquires title to the development on com
Slide 14: Financials
FINANCIALS For the 15 months to 31 March 2021 Change in business activities: FY21 results include five months of operation under new business activities - aged care business (from 1 November 2020) 14
Slide 15: FY21 Summary of Financial Performance
FY21 SUMMARY OF FINANCIAL PERFORMANCE Reflects five months aged care operations Financial Year FY20/21 NZ $000’s 15 months Primary Business Activities Aged Care • Total income of $7.3m, including revenue of $6.1m (5 months) and increase in property valuations of $1.2m Income 7,330 • Profit from cont
Slide 16: Revenue
REVENUE FY21 Sales/Resales Revenue • Revenue $6.1m • Revenue is primarily from Government-backed funding (68%), for rest home, hospital and dementia care and Resthome, services hospital, dementia • 11 ORA resales during the five month period • Other income includes other services to residents, train
Slide 17: Expenses
EXPENSES FY21 Operating Expenses Expenses FY20/21 $000’s Administration* $1,739 Employee costs Operating $4,555 Depreciation and Amortisation $377 Finance costs $894 * Administration expenses includes legal expenses and NZX listing and regulatory fees related to the acquisition of, and entry, into t
Slide 18: Financial Position
FINANCIAL POSITION • Acquisition of aged care business for $31.385m $000’s FY20/21 (valued at $33.015m). Funded by debt $18m Cash 1,219 and new equity $14m Trade and other receivables 2,034 • Total assets of $59m Related party advances 953 Property, plant and equipment 4,756 • 18.9 billion new share
Slide 19: Outlook
OUTLOOK 19
Slide 20: Attractive Sector Opportunity
ATTRACTIVE SECTOR OPPORTUNITY Strong demand underpinned The number of people in New Zealand aged over 75 is forecast to double by favourable population from 300,000 to 600,000 over the next 12 years. The aged care facilities demographics currently available in New Zealand cannot accommodate the expe
Slide 21: FY22 Focus Areas
FY22 FOCUS AREAS 6-12 Months 12-24 Months - Build occupancy at Aldwins House, - Achieve at least 70% occupancy of Christchurch Christchurch - Progress the Ranfurly Development in - Complete the Ranfurly Development in Feilding (32 villas and 10 care apartments). Feilding - Identify other acquisition
Slide 22: Our Strengths
OUR STRENGTHS • Stable future revenue streams with good growth opportunity • Considered and diversified growth strategy • Modern facilities • Experienced people, with many years industry involvement • High calibre employees • Local facilities in strong communities • Existing growth opportunities • L
Slide 23: Disclaimer
DISCLAIMER • This presentation has been prepared by Promisia Healthcare Limited (“PHL”). The information in this presentation is of a general nature only. It is not a complete description of PHL. • This presentation is not a recommendation or offer of financial products for subscription, purchase or