Ryman Healthcare Ltd. · NZX:RYM
Ryman Healthcare — H1 FY2016 Earnings Presentation
37 slides from Ryman Healthcare's earnings presentation, Nov 20, 2015
Slide 1: Ryman Healthcare Half-year results
Ryman Healthcare Half-year results 20 November 2015
Slide 2: Kindness winner Daisy Wang, Orewa
Kindness winner Daisy Wang, Orewa
Slide 3: First half highlights
First half highlights Underlying profit up 6% to $70.3 million On target for 15% underlying profit growth for year Interim dividend lifted to 7.3c per share A big year for innovation
Slide 4: Reported profit up 23%
Reported profit up 23% Underlying Profit $70.3m Taxation Expense $0.0m Unrealised revaluations of RV units +$65.2m Deferred tax expense -$2.9m Reported Net Profit $132.6m
Slide 5: Slide 5
Slide 6: Bob Scott, Petone
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Slide 7: Birkenhead, Auckland
Birkenhead, Auckland
Slide 8: Birkenhead, Auckland
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Slide 9: Pukekohe's favourite son
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Slide 10: Greenlane site views
Greenlane site views
Slide 11: Brandon Park, Melbourne
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Slide 12: New uniforms by Annah Stretton
New uniforms by Annah Stretton
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Slide 14: Good morning Julia - Have a great shift!
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Slide 15: Philip John Arrow
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Slide 16: Wearable Arts at Malvina Major
Wearable Arts at Malvina Major
Slide 17: Resident population
Resident population 16,000 12,000 Residents 8,000 4,000 0 2003 2005 2007 2009 2011 2013 2015 2017 2019
Slide 18: Ryman Prize winner Gabi Hollows
Ryman Prize winner Gabi Hollows, with Dr David Kerr (left) and Nobel Prize winner Dr Erwin Neher
Slide 19: Weary Dunlop Village flash mob, Melbourne
Weary Dunlop Village flash mob, Melbourne
Slide 20: 13 years of underlying profit growth
13 years of underlying profit growth 160 140 Expected H2 2016 120 100 $ million 80 60 40 20 0 2002 2004 2006 2008 2010 2012 2014 2016
Slide 21: Operating cash flows
Operating cash flows 180 160 140 120 100 $ million 80 60 40 20 0 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 2011 2012 2013 2014 2015 2016
Slide 22: Build programme
Build programme 1400 1200 1000 Number of units/beds 800 Expected H2 2016 600 400 200 0 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020
Slide 23: Presale contracts
Presale contracts Presales 350 300 250 Number of units 200 150 100 50 0 H1 H2 H1 H2 H1 H2 H1 2013 2014 2015 2016
Slide 24: Resale contracts
Resale contracts Resales 400 350 300 Number of units 250 200 150 100 50 0 H1 H2 H1 H2 H1 H2 H1 H2 H1 2012 2013 2014 2015 2016
Slide 25: Resales bank
Resales bank 30 Sept 2013 ($240m) 30 Sept 2015 ($500m)
Slide 26: Total assets
Total assets 4.0 3.0 $b 2.0 1.0 0.0 Sept 06 Sept 07 Sept 08 Sept 09 Sept 10 Sept 11 Sept 12 Sept 13 Sept 14 Sept 15
Slide 27: Long term capital efficiency
Long term capital efficiency $25m raised at IPO in 1999 Invested $1.9bn in portfolio since With no fresh capital Dividends of $456m paid since float Self-funded growth Conservative bank debt
Slide 28: Ryman Healthcare Half-year results
Ryman Healthcare Half-year results 20 November 2015
Slide 29: Appendices
Appendices RYMAN WEALTHCARE
Slide 30: Appendix 1: Statistics
Appendix 1: Statistics Sales of Occupation Rights Half year Half year Full year Sept-15 Sept-14 Mar-15 Existing units Independent 144 150 300 Serviced 193 162 330 337 312 630 New units Independent 170 181 407 Serviced 36 52 138 206 233 545 Portfolio and Build Rate Retirement village units Independen
Slide 31: Appendix 2: Margin
Appendix 2: Margin Half year Full year Sept-15 Mar-15 New Sales $000s $000s Reference Realised Fair Value movement – new RV units (Note 3) 28,245 61,597 Sale of occupation rights – new RV units (Key statistics) 103,226 249,096 Gross development margin % 27% 25% Resales Realised Fair Value movement –
Slide 32: Appendix 3: Asset base
Appendix 3: Asset base Hospital Special Care Resthome Serviced Independent Total (as at 30 September 2015) Woodcote Christchurch - - 49 7 18 74 Essie Summers Christchurch 41 24 30 58 22 175 Margaret Stoddart Christchurch - - 41 25 20 86 Frances Hodgkins Dunedin - - 51 32 42 125 Rowena Jackson Inverc
Slide 33: Appendix 4: Land bank
Appendix 4: Land bank Hospital Special Care Resthome Serviced Independent Total (as at 30 September 2015) Existing Sites Princess Alexandra Napier - - - - 3 3 Jane Winstone Wanganui - - - 2 - 2 Rowena Jackson Invercargill - - - - 2 2 Edmund Hillary Auckland - - 1 2 - 3 Jean Sandel (extn) New Plymout
Slide 34: Appendix 5: Cash management fees
Appendix 5: Cash management fees Half year Half year Full year Sept-15 Sept-14 Mar-15 $000s $000s $000s Reference Accrued Management Fees – Opening (Note 4) and PY financials 191,679 163,327 163,327 Less: Accrued Management Fees – Closing (Note 4) -210,103 -176,428 -191,679 Movement in Accrued Manag
Slide 35: Appendix 6: Construction activity
Appendix 6: Construction activity
Slide 36: Appendix 7: Population growth 75+
Appendix 7: Population growth 75+ 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 New Zealand Victoria
Slide 37: Appendix 8: Auckland development
Appendix 8: Auckland development