Ryman Healthcare Ltd. · NZX:RYM
Ryman Healthcare — H1 2015 Earnings Presentation
35 slides from Ryman Healthcare's earnings presentation, November 2014
Slide 1: Ryman Healthcare Limited Half Year Results Briefing
Ryman Healthcare Limited Half Year Results Briefing November 2014
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Slide 3: Successful first half
Successful first half • Underlying profits up 13% to $66.3m • On track to achieve 15% underlying profit growth for year • Record build – 450 units/beds • Opened 1st Melbourne village and secured 2nd site
Slide 4: Ln, ——
Ln, ——
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Slide 10: NZ Development Activity
NZ Development Activity Birkenhead Devonport Lynfield Greenlane Bruce McLaren Pukekohe Bob Owens Jean Sandel Kiri Te Kanawa Jane Winstone Charles Fleming Bob Scott Newtown Rangiora Beckenham Courts
Slide 11: it “fella ‘ni pao
— A it “fella ‘ni pao a uN wii
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Slide 16: NZ population growth 75+
NZ population growth 75+ 25,000 20,000 Growth pa 15,000 10,000 5,000 0
Slide 17: NZ population growth 75+
NZ population growth 75+ 25,000 20,000 Growth pa 15,000 10,000 5,000 0
Slide 18: Victoria pop growth 75+
Victoria pop growth 75+ 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 New Zealand Victoria
Slide 19: The Boston Consulting Group
THE Boston CONSULTING GROUP
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Slide 21: Record Profits
Record Profits Underlying Profit $66.3m Less: Taxation Expense -$0.1m Plus: Unrealised revaluations of RV units +$39.8m Plus: Deferred tax benefit +$1.9m Reported Net Profit – IFRS $107.9m
Slide 22: Underlying Profit
Underlying Profit 120 100 80 $ million 60 40 20 0 1st half year 2nd half year
Slide 23: Shareholders' Equity
Shareholders’ Equity 1100 1000 900 800 700 $ million 600 500 400 300 200 100 0
Slide 24: Long term capital efficiency
Long term capital efficiency • $25m raised at IPO in 1999 • Invested $1.6bn in portfolio since • With no fresh capital • Dividends of $381m paid since float • Self-funded growth • Conservative bank debt
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Slide 26: Summary
Summary • Record result, record build in first half • On target for 15% underlying profit growth for full year • Big investment in Auckland underway • Committed to rollout in Melbourne • 30 years of exceptional demographic growth ahead
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Slide 28: Appendices
Appendices
Slide 29: App 1: Statistics
App 1 : Statistics Sales of Occupation Rights Half year Half year Full year Sept-14 Sept-13 Mar-14 Existing units Independent 150 117 239 Serviced 162 144 302 312 261 541 New units Independent 181 169 358 Serviced 52 42 78 233 211 436 Portfolio and Build Rate Retirement village units Independent 3,0
Slide 30: App 2: Margin
App 2 : Margin Half year Full year Sept-14 Mar-14 New Sales $000s $000s Reference Realised Fair Value movement – new RV units (Note 3) 26,752 50,324 Sale of occupation rights – new RV units (Key statistics) 101,645 173,964 Gross development margin % 26% 29% Resales Realised Fair Value movement – exi
Slide 31: App 3: Asset Base
App 3 : Asset Base Hospital Special Care Resthome Serviced Independent Total (as at 30 September 2014) Woodcote Christchurch - - 49 7 18 74 Beckenham Courts Christchurch 41 24 30 32 22 149 Margaret Stoddart Christchurch - - 41 25 20 86 Frances Hodgkins Dunedin - - 51 32 42 125 Rowena Jackson Inverca
Slide 32: App 4: Landbank
App 4 : Landbank Hospital Special Care Resthome Serviced Independent Total (as at 30 September 2014) Existing Sites Beckenham Courts Christchurch - - - 26 - 26 Princess Alexandra Napier - - - - 3 3 Jane Winstone Wanganui 24 - - 2 - 26 Rowena Jackson Invercargill - - - - 2 2 Edmund Hillary Auckland -
Slide 33: App 5: Cash Management Fees
App 5 : Cash Management Fees Half year Half year Full year Sept-14 Sept-13 Mar-14 $000s $000s $000s Reference Accrued Management Fees – Opening (Note 4) and PY financials 163,327 137,415 137,415 Less: Accrued Management Fees – Closing (Note 4) -176,428 -148,653 -163,327 Movement in Accrued Managemen
Slide 34: App 6: Portfolio Growth
App 6 : Portfolio Growth 8000 7000 6000 units / beds 5000 4000 3000 2000 1000 0 Retirement Village Units Aged Care Beds
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