Ryman Healthcare Ltd. · NZX:RYM
Ryman Healthcare — Shareholder Meeting (July 2023)
27 slides from Ryman Healthcare's shareholder meeting presentation, Jul 27, 2023
Slide 1: Annual Shareholder Meeting
RYMAN HEALTHCARE Annual Shareholder Meeting 27 July 2023
Slide 2: Agenda
Agenda 01 Welcome and introductions 02 Interim Chair’s address 03 Group Chief Executive Officer’s address 04 Resolutions 05 General business 1
Slide 3: Virtual meeting instructions
Virtual meeting instructions 2
Slide 4: Ryman resident Jean and Caregiver Ronalyn at Kevin Hickman Village
Ryman resident Jean and Caregiver Ronalyn enjoy time together at our Kevin Hickman Village. 3
Slide 5: Directors
Directors Up for re-election at Annual Meeting Claire Higgins Dean Hamilton James Miller Paula Jeffs INTERIM CHAIR NON-EXECUTIVE NON-EXECUTIVE NON-EXECUTIVE NON-EXECUTIVE DIRECTOR DIRECTOR DIRECTOR DIRECTOR Joined board: 2023 Joined board: 2023 Joined board: 2019 Joined board: 2014 Retiring at Annua
Slide 6: Neil and David at Bruce McLaren Village
Neil and David, new mates and neighbours at our Bruce McLaren Village, are often spotted wading rivers in search of the catch of the day. 5
Slide 7: Senior executives
Senior executives Richard Umbers David Bennett Deborah Marris Cheyne Chalmers Cameron Holland GROUP CHIEF GROUP CHIEF GROUP GENERAL CHIEF EXECUTIVE OFFICER CHIEF EXECUTIVE OFFICER EXECUTIVE OFFICER FINANCIAL OFFICER COUNSEL AND – NEW ZEALAND – AUSTRALIA Joined Ryman: 2021 Joined Ryman: 2013 COMPANY
Slide 8: FY23 key financials
FY23 key financials $301.9m $272.6m Underlying profit1 18.4% Operating EBITDA1 29.4% • Underlying profit of $301.9 million (vs guidance of $280-290 million) • Reported IFRS profit $257.8m $12.51bn down due to lower Reported (IFRS) profit -62.8% Total assets 14.1% revaluation gains and early USPP rep
Slide 9: Strategy update
Strategy update Decisive steps taken to position the business for sustainable growth and improved performance Increased focus on cash recovery from development Improved returns from existing villages Site density • Rebalancing portfolio towards lower-density Sales • New market incentives and strateg
Slide 10: Village developments and artist impressions
Linda Jones Village, Hamilton Cambridge, Waikato Northwood, Christchurch Artist impression Artist impression Charles Brownlow Village, Victoria Raelene Boyle Village, Melbourne Mt Eliza, Victoria 9 Artist impression
Slide 11: Committed to exceptional care
Committed to exceptional care • Maintained 4-year Ministry of Health certification at 82% of our New Zealand villages • Achieved 4-star ratings for all four of our operational care centres under the new aged-care rating system in Australia • Home care offering gaining traction in Australia with 132
Slide 12: Judy at Murray Halberg Village
Avid rower and a recent star of our Full Life brand campaign, Judy enjoys her independent lifestyle at our Murray Halberg Village. 11
Slide 13: Advancing our sustainable future
Advancing our sustainable future • Sustainability strategy launched in October 2022 • In consultation with stakeholders, material issues were identified across three pillars of Our Places, Our People and Our Purpose • For the first year we have identified three priorities from the programme of 21 pr
Slide 14: Outlook
Outlook Underlying profit FY24 underlying profit is expected to be in the range $310-$330 million. Portfolio growth FY24 portfolio to grow by 750-800 retirement village units and aged care beds, with a similar proportion of care beds to FY23. Cash flow FY24 net investing cash flows estimated to be i
Slide 15: Annie and PK Karan at Murray Halberg Village
Resident and former nurse Annie and Special Care Unit Coordinator PK Karan enjoy a close bond at our Murray Halberg Village. 14
Slide 16: Resolutions
Resolutions 1. Auditor's remuneration Authorising the board to fix the remuneration of the auditor 2. Dean Hamilton Director Dean Hamilton offers himself for re-election 3. James Miller Director James Miller offers himself for re-election 4. Paula Jeffs Director Paula Jeffs offers herself for re-ele
Slide 17: Fixing the remuneration of the auditor
Resolution 1 Fixing the remuneration of the auditor Pursuant to section 207T of the Companies Act 1993, Deloitte is automatically reappointed at the Annual Meeting as auditor of Ryman. The proposed resolution is to authorise the directors under section 207S of the Companies Act 1993 to fix the remun
Slide 18: Dean Hamilton
Resolution 2 Dean Hamilton Under NZX Listing Rule 2.7.1 a director appointed by the board must not hold office (without re-election) past the next Annual Meeting following the director’s appointment. Mr Dean Hamilton was appointed as a non-executive director with effect from 1 June 2023. Mr Hamilton
Slide 19: James Miller
Resolution 3 James Miller Under NZX Listing Rule 2.7.1 a director appointed by the board must not hold office (without re-election) past the next Annual Meeting following the director’s appointment. Mr James Miller was appointed as a non-executive director with effect from 1 June 2023. Mr Miller ret
Slide 20: Paula Jeffs
Resolution 4 Paula Jeffs Non-executive director Ms Paula Jeffs retires by rotation pursuant to NZX Listing Rule 2.7.1 and offers herself for re-election at the 2023 Annual Meeting. Ms Jeffs is considered by the board to be independent. The board unanimously supports the re-election of Ms Jeffs. 19
Slide 21: Claire Higgins
Resolution 5 Claire Higgins Non-executive director Ms Claire Higgins retires by rotation pursuant to NZX Listing Rule 2.7.1 and offers herself for re-election. Ms Higgins is considered by the board to be independent. The board unanimously supports the re-election of Ms Higgins for a period of 18 mon
Slide 22: General business
General business Clinical Manager Tara, Gardener Angela, Regional Operations Manager Maria and Personal Care Worker Bryant are part of our growing Australian team. 21
Slide 23: Thank you
Thank you Keith Park Village resident Mary feels that village life is very family oriented and enjoys having her grandchildren visit regularly. 22
Slide 24: Appendix
Appendix John Flynn Village resident Patricia with Personal Care Worker, Bryant. 23
Slide 25: Reported (IFRS) profit
Appendix 1 Reported (IFRS) profit 12 months to 31-Mar-23 12 months to 31-Mar-22 12 months to 31-Mar-21 $000s NZ AU Group NZ AU Group NZ AU Group Underlying profit (non-GAAP) 232,222 69,670 301,892 203,763 51,186 254,949 192,286 32,163 224,449 Unrealised revaluations of 20,233 53,428 73,661 436,804 3
Slide 26: Glossary
Glossary Term Definition Term Definition AU Australia Pro-forma Adjusted for the impact of the equity raise Care bed Rest home, hospital and dementia level care RAD Refundable accommodation deposit Care suite Rest home, hospital and dementia level care rooms subject to an ORA that attracts a DMF Res
Slide 27: Disclaimer
Disclaimer This presentation has been prepared by Ryman Healthcare Limited and its group companies ("Ryman") for informational purposes. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This presentation provides additional comments on the 2023