Oceania Healthcare Ltd. · NZX:OCA
Oceania Healthcare — Investor Presentation (March 2021)
29 slides from Oceania Healthcare's investor presentation, Mar 23, 2021
Slide 1: Oceania Healthcare Acquisitions & Equity Raise Presentation
<< SS SE ARDEN Joint Lead Manager & Joint Underwriter Co) MACQUARIE oint Lead Manager & Joint Underwri IN. THE UNITED ST,
Slide 2: Important notice and disclaimer
The following notice and disclaimer applies to this investor presentation (Presentation) and you are therefore advised to read this disclaimer carefully before reading or making any other use of this Presentation or any information contained in this Presentation. By accepting this Presentation you r
Slide 3: Past performance, investment risk and financial data
Past performance Investors should note that past performance information in this Presentation is given for illustrative purposes only and cannot be relied upon as an indicator of (and provides no guidance as to) future Oceania Healthcare performance. Investment risk An investment in Oceania Healthca
Slide 4: Transaction overview
⚫ — — ⚫ ⚫ ⚫ — — ⚫ ⚫ — ⚫ 1. With the ability to accept oversubscriptions at Oceania’s discretion. 2. Excludes transaction costs and any adjustments to purchase price. 3. Based on calendarised broker consensus for Oceania’s FY2022 Underlying NPAT and using the portion of the equity raise that will fun
Slide 5: Investment highlights
⚫ ⚫ ⚫ — — ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ 1. Based on market research commissioned by Oceania. 2. Based on calendarised broker consensus for Oceania’s FY2022 Underlying NPAT and using the portion of the equity raise that will fund the Waterford on Hobsonville Point acquisition (i.e. reflecting full equity funding o
Slide 6: Operational Update
Slide 7: Operational update highlights
● ● ● ● ● ● ● ● ● ▬ ● ▬ ● ● ▬ ● ▬ ● ● 1. As at the date of this presentation. 2. Refers to the four-month period from December 2020 to March 2021 due to Oceania’s balance date change from 31 May to 31 March from 2021 onwards. Refer to the Glossary on page 29 for more information on financial periods
Slide 8: 1. Double compared to as at 30 November 2020. 2. Note excludes impact of
1. Double compared to as at 30 November 2020. 2. Note excludes impact of the Waterford on Hobsonville Point and Franklin acquisitions.
Slide 9: 1. Note excludes impact of the Waterford on Hobsonville Point and Franklin acquisitions.
⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ 1. Note excludes impact of the Waterford on Hobsonville Point and Franklin acquisitions.
Slide 10: Acquisitions
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Slide 11: Waterford on Hobsonville Point acquisition
⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ 1. Based on CBRE’s 31 March 2020 valuation of Waterford on Hobsonville Point.
Slide 12: Waterford on Hobsonville Point
al Ta we Library OCEANIA HEALTHCARE ructed to Toe i Swimming pool and spa 12
Slide 13: 1. Source: Market research commissioned by the Company
⚫ ⚫ ⚫ ⚫ — ⚫ ⚫ ⚫ ⚫ ⚫ ⚫ 1. Source: Market research commissioned by the Company
Slide 14: Acquired units and care suites
⚫ Acquired ~275 Acquired Units and Care 100 Units Suites ⚫ 8% 15% addition to addition to RV portfolio development ⚫ pipeline 1,310 1,780 Units + Units Care Suites ⚫ Acquired ILUs & Acquired ILUs Care Suites 2% 6% ⚫ ILUs 33% Care Care Suites / ILUs Suites / Beds 40% Beds 65% 54% ⚫
Slide 15: Acquisition financial impact
⚫ ⚫ ⚫ — — — ⚫ — ⚫ ⚫ — — — ⚫ 1. Based on Oceania’s 1HY2021 balance sheet, total equity raise size of $100m and acquisition costs of $77m. See pages 17 and 18 for further information. 2. Note DMF terms at Waterford on Hobsonville Point will transfer to Oceania’s standard 30% over 3 years for future OR
Slide 16: Equity Raise
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Slide 17: Equity raise details
⚫ ⚫ ⚫ ⚫ 1. With the ability to accept oversubscriptions at Oceania’s discretion.
Slide 18: Sources and uses and pro forma position
⚫ ⚫ ⚫ ⚫ ⚫ 1. Based on Oceania’s 1HY2021 balance sheet, total equity raise size of $100m and acquisition costs of $77m. 2. Before any adjustments to purchase price.
Slide 19: Indicative timetable
1. Dates above are subject to change and are indicative only. 2. Eligible shareholders with a registered address in New Zealand can find out more about the Retail Offer at www.shareoffer.co.nz/oceaniahealthcare and can apply online during the Retail Offer period.
Slide 20: International offer restrictions
This document does not constitute an offer of new ordinary shares (New Shares) of Oceania Healthcare Limited (Company) in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country o
Slide 21: Key Risks
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Slide 22: Key Risks
Key Risks Ne Tecra This section describes the key risks that Oceania has identified in connection with the Equity Raise. Oceania considers it important that these key risks, and their potential effect on the future operating and financial performance of Oceania, and Oceania’s share price, are specif
Slide 23: Key Risks (continued)
OCEANIA Key Risks (continued) Ne Toa Regulation risk Property market risk Development risk Risks associated with the cost and availability of labour Transaction risk Oceania’s business and profitability could be negatively impacted by any material change in the current regulatory regimes applying to
Slide 24: Appendix
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Slide 25: Oceania overview
1. Note excludes impact of the Waterford on Hobsonville Point and Franklin acquisitions. 2. Comprising 44 operating villages and 1 undeveloped site. Facility numbers as at 30 November 2020. 3. Includes 204 care studios which may be initially sold with a PAC, and may subsequently be sold under an ORA
Slide 26: Financial summary
1. Underlying EBITDA excludes the earnings from sites divested in FY2019.
Slide 27: Portfolio Summary (30 November 2020)
Portfolio Summary (30 November 2020) GP ecean Care Care Village Care Care Village Facility Region Beds Suites Units Total Facility Region Beds Suites Units Total NORTH ISLAND SOUTH ISLAND Totara Park Rodney - - 30 30 Marina Cove Picton = = 22 22 The Sands North Shore - 44 64 108 Green Gables Nelson
Slide 28: Board of Directors
Chair and Independent Independent Director Independent Director Independent Director Independent Director Director CNZM, BCA, FCA Independent Director BHSc, MSc, FAICD, GAIST BCA (Hons), MBA, CA AME ONZM, BMS, FCA DNZM, CNZM, MBA (VUW), NZRN, NZM Liz Coutts has been a Director of Alan Isaac has been
Slide 29: Glossary
Glossary Care Suite A room or studio certified for the provision of care by the Ministry of Health which has been licensed under an ORA. Continuing Operations Earnings from continuing operations excludes the earnings from sites divested in FY2019 in all reporting periods. DMF Deferred Management Fee
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