Regis Healthcare Ltd. · ASX:REG
Regis Healthcare — Investor Presentation (February 2024)
30 slides from Regis Healthcare's investor presentation, Feb 26, 2024
Slide 1: FY24 Half-Year Results Presentation
OUR PURPOSE Personalised and respectful care that embraces the experience of ageing FY24 Half-Year Results Presentation 26 February 2024 Regis Yeronga, Queensland
Slide 2: Regis is a Leading Residential Aged Care Provider
Regis Healthcare Limited | FY24 Half-Year Results Presentation Regis is a Leading Residential Aged Care Provider One of the largest and most geographically diverse aged care portfolios Existing Network 30+ years in the aged care industry Development Sites 1 Darwin 7,600 available operational places
Slide 3: Contents
Contents Contents ● Aged Care Industry Overview ● Financial and Operational Performance ● Strategic Update and Outlook ● Questions ● Appendices - 2 - Regis Camp Hill, Queensland
Slide 4: Aged Care Industry Overview
Regis Fawkner, Victoria Aged Care Industry Overview
Slide 5: Industry Reform and Sector Changes
Regis Healthcare Limited | FY24 Half-Year Results Presentation Industry Reform and Sector Changes Funding Work Value Case Care Minutes ► Additional Government revenue received from 1 July 2023 to fund ► Mandated care minutes requirement commenced 1 October 2023 Fair Work Commission Work Value Case (
Slide 6: Industry Reform and Sector Changes (continued)
Regis Healthcare Limited | FY24 Half-Year Results Presentation Industry Reform and Sector Changes (continued) New Aged Work ValueCare CaseAct Strengthened Aged Care Quality Standards ► Royal Commission into Aged Care Quality and Safety found current ► New Aged Care Quality Standards Aged Care Act no
Slide 7: Australian Aged Care Market Dynamics
Regis Healthcare Limited | FY24 Half-Year Results Presentation Australian Aged Care Market Dynamics Australia's Ageing Population (millions)4 ► Ageing population with acute and sub-acute healthcare 5.8 needs set to support demand 4.3 ► Baby Boomer generation will demand higher quality and more premi
Slide 8: Financial and Operational Performance
Regis Macleod, Victoria Financial and Operational Performance
Slide 9: H1 FY24 Overview
Regis Healthcare Limited | FY24 Half-Year Results Presentation H1 FY24 Overview Financial Overview Revenue from Services Average Occupancy ► Revenue from services of $480.1 million, up 26.2% on pcp $480.1million ► Underlying EBITDA1 of $52.1 million, up 15.5% on pcp 93.6% ► NPATA1 of $16.3 million,
Slide 10: Financial Summary
Regis Healthcare Limited | FY24 Half-Year Results Presentation Financial Summary ► Revenue from services benefitted from transition to AN-ACC from ACFI, increases in the H1 FY23 AN-ACC price from 1 July 2023 ($26.30 prpd) and 1 December 2023 (approx $10 prpd), $ millions H1 FY24 H1 FY23 to H1 FY24
Slide 11: Drivers of Shareholder Value
Regis Healthcare Limited | FY24 Half-Year Results Presentation Drivers of Shareholder Value Aged care revenue per occupied bed day ($) 380.3 392.3 328.9 344.4 H1 FY23 Operational Statistics H1 FY24 H1 FY23 to H1 FY24 Average available operational places (#)1 7,067 7,000 1.0% Total occupied bed day
Slide 12: One-Off / Non-Recurring Items
Regis Healthcare Limited | FY24 Half-Year Results Presentation One-Off / Non-Recurring Items The following one-off / non-recurring items are excluded from underlying EBITDA: Government Grants $ millions (before tax) H1 FY24 H1 FY23 ► Government grant income of $11.3 million (H1 FY23: $0.5 million) i
Slide 13: Net Debt and Cash Flow
Regis Healthcare Limited | FY24 Half-Year Results Presentation Net Debt and Cash Flow Net Debt / (Cash) Movements ($m) $ millions Purpose Limit Maturity 3.6 (117.1) 5.1 22.5 Facility A Working capital/M&A 150.0 March 2026 30.5 Facility B Working capital/M&A 175.0 March 2027 Residential village 75.1
Slide 14: Capital Expenditure
Regis Healthcare Limited | FY24 Half-Year Results Presentation Capital Expenditure $ millions H1 FY24 H1 FY23 Development ► Camberwell - Greenfield development commenced Q1 FY23. On track to Property open in H2 FY25 Development 17.4 3.4 • Construction nearing completion and fit-out works underway Ma
Slide 15: Resident Profile
Regis Healthcare Limited | FY24 Half-Year Results Presentation Resident Profile Resident Mix (Permanent Residents) 31 December 30 June 31 December Number of Residents1,2 2023 2023 2022 RAD (100%) 2,218 1,890 1,858 Combination (RAD/DAP) 1,129 981 1,015 55% 53% 53% DAP 422 353 311 Total Non-Concession
Slide 16: CPSM Acquisition Update
Regis Healthcare Limited | FY24 Half-Year Results Presentation CPSM Acquisition Update Overview ► 5 premium homes in South-East Queensland with 644 beds ► Transaction completed on 1 December 2023 ► $75.1 million net cash cost plus $7.0m of acquisition costs1 • FY23 EBITDA multiple of 5.7x ► $117,000
Slide 17: Strategic Update and Outlook
Regis Fawkner, Victoria Strategic Update and Outlook
Slide 18: FY24 Key Strategic Priorities
Regis Healthcare Limited | FY24 Half-Year Results Presentation FY24 Key Strategic Priorities Culture of Care - Delivery of safe, effective and integrated care for residents and clients • Continue investment in integrated and person-centred care to residents and clients • Improve resident services in
Slide 19: Growth Program - Camberwell Greenfield Development
Regis Healthcare Limited | FY24 Half-Year Results Presentation Growth Program - Camberwell Greenfield Development Camberwell, VIC - in development ► 112 beds ► 4-level residence ► Land area ~4,300 sqm ► ~$40 million investment estimate (excluding land) ► Various room types: standard and large single
Slide 20: Growth Program - Future Greenfield Developments
Regis Healthcare Limited | FY24 Half-Year Results Presentation Growth Program - Future Greenfield Developments Belrose, NSW Carlingford, NSW Toowong, QLD ► Northern beaches of Sydney with ocean ► West Sydney designed with large outdoor ► Inner-west riverside suburb in Brisbane views landscaped areas
Slide 21: Outlook
Regis Healthcare Limited | FY24 Half-Year Results Presentation Outlook ► Regis continues to adapt to a rapidly changing regulatory environment and expects to benefit in the second half of FY24 from the recent CPSM acquisition and additional Government funding ► Regis’ strong balance sheet and substa
Slide 22: Questions
Grand Final Lunch - MCG, Victoria Questions
Slide 23: Appendices
Regis Yeronga, Queensland Appendices
Slide 24: Appendix A: Income Statement
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix A: Income Statement $ millions H1 FY24 H1 FY23 Revenue from Services Government revenue 351.2 267.9 Resident revenue 124.5 108.8 Other revenue 4.4 3.7 Revenue from Services 480.1 380.4 Other income1 49.1 33.3 Total Revenue 529.2
Slide 25: Appendix B: Statement of Financial Position
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix B: Statement of Financial Position 30 June $ millions 31 December 2023 2023 Cash and cash equivalents 86.6 61.3 Trade and other receivables 24.3 40.0 Other current assets 16.0 7.7 Assets held for sale 2.9 2.9 Total Current Asset
Slide 26: Appendix C: Cash Flow Statement
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix C: Cash Flow Statement $ millions H1 FY24 H1 FY23 Cash Flows from Operating Activities Receipts from customers and Government subsidies 564.2 421.3 Payments to suppliers and employees (447.1) (358.2) Operational Cash Flows Befor
Slide 27: Appendix D: Non-IFRS Reconciliation
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix D: Non-IFRS Reconciliation $ millions H1 FY24 H1 FY23 Profit/(Loss) Before Tax (14.6) (36.5) Depreciation1 22.4 22.7 Amortisation2 40.7 40.7 Net finance costs3 39.4 35.9 Reported EBITDA (post-AASB 16) 87.9 62.8 Add/(deduct) one-
Slide 28: Appendix E: Deregulation of Operational Places
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix E: Deregulation of Operational Places ► As a result of the Australian Government’s decision to discontinue operational places from 1 July 2024, and in accordance with Accounting Standards and the guidelines issued by the Austral
Slide 29: Appendix F: Definitions of Non-IFRS Financial Measures
Regis Healthcare Limited | FY24 Half-Year Results Presentation Appendix F: Definitions of Non-IFRS Financial Measures H1 FY23 means half-year ended 31 December 2022 H2 FY23 means half-year ended 30 June 2023 FY23 means full-year ended 30 June 2023 H1 FY24 means half-year ended 31 December 2023 Capit
Slide 30: Important Information and Disclaimer
Regis Healthcare Limited | FY24 Half-Year Results Presentation Important Information and Disclaimer This Presentation contains summary information about the current activities of Regis Neither Regis Healthcare nor any other person warrants or guarantees the future Healthcare Limited and its controll
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