Ryman Healthcare Ltd. · NZX:RYM
Ryman Healthcare — FY2011 Earnings Presentation
28 slides from Ryman Healthcare's earnings presentation, May 19, 2011
Slide 1: Annual Results Briefing
Annual Results Briefing 19 May 2011
Slide 2: 2011 Annual Result
2011 Annual Result Dr David Kerr – Chairman Simon Challies – Managing Director Gordon MacLeod – Chief Financial Officer
Slide 3: Underlying Profit
$ million 0 10 20 30 40 50 60 70 80 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 Underlying Profit 20 09 20 10 20 11
Slide 4: Dividend History
Dividend History 8.0 7.0 cents per share 6.0 5.0 4.0 3.0 2.0 1.0 0.0 09 01 04 06 07 08 10 11 00 02 03 05 20 20 20 20 20 20 20 20 20 20 20 20 (adjusted for share split)
Slide 5: Nurse & Resident
Nurse & Resident
Slide 6: Population 75+ rapidly increases
population increase per annum 19 0 4,000 8,000 12,000 16,000 96 -2 00 1 20 01 -2 00 6 20 06 -2 00 9 20 09 -2 01 1 20 11 -2 01 6 20 16 -2 02 Source: Statistics NZ 1 20 21 -2 02 6 20 26 -2 03 1 Population 75+ rapidly increases
Slide 7: Village of year
Village of year
Slide 8: Nurse & Resident
Nurse & Resident
Slide 9: Build Programme now at
Build Programme now at 550 600 550 500 450 volumes pa 400 350 300 250 200 150 100 50 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Units Beds
Slide 10: Village locations and construction activity
Jane Mander Evelyn Page Grace Joel Planning stage Edmund Hillary Bob Owens Construction activity Completed village Hilda Ross Kiri Te Kanawa Jean Sandel Princess Alexandra Jane Winstone Julia Wallace Waikanae Shona McFarlane Ernest Rutherford Malvina Major Rita Angus Ngaio Marsh Margaret Stoddart Be
Slide 11: Jane Mander
Jane Mander
Slide 12: Nurse & Resident
Nurse & Resident
Slide 13: ER
ER
Slide 14: NZ 80+ Population and % Living in Residential Care
NZ 80+ Population and % Living in Residential Care 300,000 35% 250,000 30% % living in residential care 80 plus population 25% 200,000 20% 150,000 15% 100,000 10% 50,000 5% 0 0% 24 18 21 97 00 03 06 09 12 15 20 20 19 20 20 20 20 20 20 20 80+ Population % in Residential Care
Slide 15: ARRC Review Aged Care Returns
ARRC Review Aged Care Returns . $30,000 $25,000 EBITD per Bed pa $20,000 $15,000 $10,000 $5,000 $0 e w ia l ile ta om ie t rt en pi ev ua th os em R es Q H C D R p R To R A
Slide 16: Ladies
(iS SN \ \ \ a EP gg =
Slide 17: The Financials
The Financials
Slide 18: Strong Annual Results
Strong Annual Results Realised profits up 17% to $72m Operating cash flows very strong $133m Shareholders equity increased 24% $566m
Slide 19: Portfolio Growth
Portfolio Growth RV units have more than doubled 3000 2500 units / beds 2000 Aged care beds up 1500 two thirds 1000 500 0 2006 2007 2008 2009 2010 2011 Retirement Village Units Resthome/Hospital Beds
Slide 20: Management Fees
$ million 0 5 10 15 20 25 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 Management Fees 20 10 20 11
Slide 21: Care Fees Revenue
$ million -10 10 30 50 70 90 110 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 Care Fees Revenue 20 10 20 11
Slide 22: Build Programme
Build Programme 600 550 500 450 volumes pa 400 350 300 250 200 150 100 50 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Units Beds
Slide 23: Shareholders Equity
Shareholders Equity 600 560 520 480 440 400 $ million 360 320 280 240 200 160 120 80 40 0 01 02 00 04 05 03 06 07 09 10 08 11 20 20 20 20 20 20 20 20 20 20 20 20
Slide 24: Interest Bearing Debt to Equity %
Interest Bearing Debt to Equity % 50 45 40 35 Percentage % 30 25 20 15 10 5 0 2007 2008 2009 2010 2011
Slide 25: Underlying Profits excl non cash
Underlying Profits excl non cash Underlying Profit $72.1m Plus Unrealised revaluations of RV units +$30.7m Less Deferred tax movement -$2.6m Reported Net Profit - IFRS $100.2m Our emphasis is on trading profits not unrealised valuation movements
Slide 26: Summary
Summary Strong financial position from which to drive further growth from: Completed villages Care earnings New units / beds – NZ at 550 pa – Australia To meet needs of rapidly growing 75+ population over next 20 years of 12,000 per annum
Slide 27: Malvina Ladies
Malvina Ladies
Slide 28: Share Performance since float
Share Performance since float 3.00 Ryman 2.50 Share Price $* 2.00 1.50 1.00 0.50 NZSX 50 0.00 09 10 11 01 02 03 04 05 06 07 08 99 00 20 20 20 20 20 20 20 20 20 20 20 19 20 * Adjusted for share split