Regis Healthcare Ltd. · ASX:REG
Regis Healthcare — Shareholder Meeting (October 2023)
40 slides from Regis Healthcare's shareholder meeting presentation, Oct 24, 2023
Slide 1: Chairman's and MD's Addresses to Annual General Meeting
REGIS HEALTHCARE LIMITED ABN 11 125 203 054 Level 2, 293 Camberwell Road Camberwell, VIC 3124 T: 03 8573 0444 Regis.com.au ASX Announcement 24 October 2023 Chairman’s and MD’s Addresses to Annual General Meeting In accordance with Listing Rule 3.13.3, we attach the Chairman’s and Managing Director’s
Slide 2: Chairman's AGM Speech 2023
CHAIRMAN’S AGM SPEECH 2023 I would like to start by thanking our Regis front-line staff, support staff and executives for their dedicated care and support for our residents, clients, and their families over the past year. Regis is one of Australia’s largest and most geographically diverse providers
Slide 3: Chairman's speech continued: business discipline and sector reform
policy and funding reform program provided more certainty of adequate returns. We have divested some passive assets, invested in land acquisitions and substantially paid down debt. We have targeted our investments on new systems to improve capability and efficiency across clinical and personal care,
Slide 4: Moving to the FY23 results
The growing number of older Australians means that additional aged care places will be required, notwithstanding a shift in consumer preference to home care. At current costs of development, $40-$50 billion of capital will be required to build and replace more than 100,000 beds in the next decade. M
Slide 5: Chairman's speech: care minutes and closing
these trends continue, reflecting ongoing training of staff and investments in upgraded clinical and medication management systems and clinical experts. As part of its election commitments, the Government legislated that from 1 July 2023, every home was required to have a registered nurse on duty 24
Slide 6: Managing Director and CEO AGM Speech 2023
Managing Director and CEO AGM Speech 2023 Thank you Graham and good morning everyone. I would like to begin by acknowledging the Wurundjeri people of the Kulin Nation, traditional custodians of the land on which we meet today, and pay my respects to their Elders past, present and emerging. I extend
Slide 7: Critical reforms implemented in FY23
There have been critical reforms implemented in FY23, including some that address known and long-standing inhibitors to sector improvement and viability. Regis welcomed the establishment of the Independent Health and Aged Care Pricing Authority as the body that will recommend to Government each year
Slide 8: FY23 Key Accomplishments
Finally, Government announced a time-limited Aged Care Taskforce chaired by the Minister for Aged Care to make recommendations on the funding arrangements required for a viable sector. It is the hope of all stakeholders that this process will deliver robust and practical recommendations that support
Slide 9: FY23 accomplishments and financial results
- Receiving net proceeds of $60 million through the rationalisation of non-income producing assets including the sale of the Hollywood Retirement Village and vacant land in Western Australia - A safer work environment for our teams, with reductions in incidents, lost time injuries and WorkCover clai
Slide 10: FY24 Key Strategic Priorities
2022, increasing from $227.70 in Q2 FY23 to $279.60 in Q1 FY24. This improvement reflects the Independent Health and Aged Care Pricing Authority’s work to recommend a higher unit price as well as reassessment of resident care needs. The average care minutes per resident per day increased to an avera
Slide 11: Ensuring our Future and growth program
In terms of Ensuring our Future, we are making significant investments this year in the ongoing refurbishment of our existing portfolio and progressing our pipeline of Greenfield developments. The Company intends to rationalise other non-income producing assets to realise further proceeds to be inve
Slide 12: Pipeline development projects and outlook
In terms of our other pipeline development projects, we continue to advance our plans and are ready to accelerate our program of works as building costs stabilise and pending the final recommendations of the Aged Care Taskforce, due at the end of this calendar year. In January 2023, the Company acqu
Slide 13: REGIS.COM.AU
REGIS.COM.AU | 1300 998 100 - 1 -
Slide 14: Important Information and Disclaimer
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 controlled entities (Regis Healthcare or the Group). It should be perfo
Slide 15: Welcome and Introduction
Welcome and Introduction Graham Hodges Dr Linda Mellors Ian Roberts Chairman and Independent Managing Director and Non-Executive Director Non-Executive Director Chief Executive Officer Bryan Dorman Professor Christine Bennett AO Sally Freeman Non-Executive Director Independent Independent Non-Execut
Slide 16: Agenda
Agenda 1. Chairman’s Address 2. CEO’s Address 3. Formal Business 4. Closing - 4 -
Slide 17: Chairman's Address
Chairman’s Address Graham Hodges - 5 -
Slide 18: Regis is a Leading Residential Aged Care Provider
Regis is a Leading Residential Aged Care Provider Key statistics One of the largest and most geographically diverse aged care portfolios Existing Network 30+ years in the aged care industry Development Sites 1 Darwin 6,960 available operational places 2 Cairns 3 Townsville 63 aged care homes (100% f
Slide 19: A Challenging Period, with Evidence of Improving Prospects
A Challenging Period, with Evidence of Improving Prospects Challenging Prior Years Business Discipline & Strategic Investment Improving Prospects ► Government tightening of sector funding Care & Quality ► Highest ever number of residents living in a over many years Regis home ► Invested in senior cl
Slide 20: FY23 Recap
FY23 Recap Financial Overview Revenue from Services Average Occupancy $780.6million ► Revenue from services of $780.6 million, up 7.6% on pcp 91.5% ► Underlying EBITDA1 of $83.3 million, up 6.7% on pcp Underlying EBITDA1 Overall Star Rating (Q3 FY23) ► NPATA2 of $28.5 million, up 631% on pcp $83.3mi
Slide 21: CEO's Address
CEO’s Address Dr Linda Mellors - 9 -
Slide 22: Industry Reform and Sector Changes
Industry Reform and Sector Changes IHACPA Work Value Case Aged Care Worker Pay Rise Care Minutes ► Independent Hospital and Aged Care ► Fair Work Commission - Work Value ► Mandated care minutes requirement Pricing Authority (IHACPA) to determine Case increased modern award wage commenced 1 October 2
Slide 23: FY23 Key Accomplishments
FY23 Key Accomplishments Culture of Care ✓ New electronic medication management system Delivery of safe, effective and integrated care for residents ✓ Upgrade of AutumnCare clinical management system and clients ✓ Expansion of Consumer Advisory Committees Positive People and ✓ Finalising target oper
Slide 24: Q1 FY24 Update
Q1 FY24 Update Average quarterly occupancy (%) ► Average occupancy for Q1 FY24 was 93.5% 93.5% - Spot occupancy at 20 October 2023 was 93.8% 92.5% 91.5% 91.2% 90.9% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Aged care Government revenue per occupied bed day ($) ► Average Government revenue per occupied
Slide 25: FY24 Key Strategic Priorities
FY24 Key Strategic Priorities Culture of Care Positive People & Practice Ensuring Our Future ► Continued investment in ► Improve labour productivity and ► On-going refurbishment of Regis’ integrated and person-centred reduce agency costs while property portfolio care to residents and clients continu
Slide 26: Camberwell Greenfield Development
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 ensuite rooms ► Development commenced September 2022 and remains on track to op
Slide 27: Future Greenfield Developments
Future Greenfield Developments Belrose, NSW Carlingford, NSW Toowong, QLD ► Northern beaches of Sydney with ocean ► West Sydney designed with large ► Inner-west riverside suburb in views outdoor landscaped areas and Brisbane ► 99 beds communal activity spaces ► 123 beds ► 3-level residence ► 99 beds
Slide 28: Primed for Growth
Primed for Growth ► Regis has commenced FY24 with key performance metrics trending favourably including occupancy and aged care government revenue ► Regis remains focussed on releasing capital from non-income producing assets to reinvest into higher returning core business opportunities ► A strong b
Slide 29: Formal Business
Formal Business Graham Hodges - 17 -
Slide 30: Item 1 Annual Financial Report
Item 1 Annual Financial Report - 18 -
Slide 31: Item 2 Re-election of Director
Item 2 Re-election of Director Graham Hodges - 19 -
Slide 32: Proxy Position: Item 2
Proxy Position: Item 2 Re-election of Graham Hodges as Director Proxy position In Favour Undirected Against Total Valid As a % of Abstain proxies* Available Votes Issued Open Capital • Votes 160,820,061 130,925 1,968,489 162,919,475 54.12% 71,694 • Holders 70 20 19 5 • Percentage 98.71% 0.08% 1.21%
Slide 33: Item 3 Non-Executive Directors' Fee Pool
Item 3 Non-Executive Directors’ Fee Pool - 21 -
Slide 34: Proxy Position: Item 3
Proxy Position: Item 3 Non-Executive Directors’ Fee Pool Proxy position In Favour Undirected Against Total Valid As a % of Abstain proxies* Available Votes Issued Open Capital • Votes 52,370,923 130,925 28,355,392 80,857,240 26.86% 30,950 • Holders 41 20 45 5 • Percentage 64.77% 0.16% 35.07% *Undire
Slide 35: Item 4 Adoption of the Remuneration Report
Item 4 Adoption of the Remuneration Report - 23 -
Slide 36: Proxy Position: Item 4
Proxy Position: Item 4 Adoption of the Remuneration Report Proxy position In Favour Undirected Against Total Valid As a % of Abstain proxies* Available Votes Issued Open Capital • Votes 80,307,565 130,925 219,465 80,657,955 26.79% 17,000 • Holders 49 20 35 2 • Percentage 99.57% 0.16% 0.27% *Undirect
Slide 37: Item 5 Approval of FY2024 LTI
Item 5 Approval of FY2024 LTI Grant of Performance Rights to MD/CEO - 25 -
Slide 38: Proxy Position: Item 5
Proxy Position: Item 5 Approval of FY2024 LTI Grant of Performance Rights to MD/CEO Proxy position In Favour Undirected Against Total Valid As a % of Abstain proxies* Available Votes Issued Open Capital • Votes 80,353,254 126,925 260,276 80,740,455 26.82% 82,037,479 • Holders 39 20 46 5 • Percentage
Slide 39: Meeting Concludes
Meeting Concludes The detailed results of the polls will be announced on the Company’s website and ASX announcement platform later today. - 27 -
Slide 40: REGIS.COM.AU
REGIS.COM.AU | 1300 998 100 - 28 -
Regis Healthcare — Shareholder Meeting (October 2023) on 6ix