Promisia Healthcare Limited · NZX:PHL
Promisia Healthcare — Shareholder Meeting (2023)
27 slides from Promisia Healthcare's shareholder meeting presentation, 2023
Slide 1: Promisia Healthcare Limited 2023 Annual Shareholders' Meeting
Promisia Healthcare Limited 2023 Annual Shareholders’ Meeting 1
Slide 2: Board Management
BOARD MANAGEMENT KAREN LAKE HELEN DOWN Group General Manager Acting Chair Stepping down at the Annual Meeting THOMAS BRANKIN VIRGINIA DYALL-KALLIDAS Executive Director General Manager Group Facilities CRAIG PERCY Independent Director Standing for election RHONDA SHERRIFF Independent Director Standin
Slide 3: Introducing Karen Lake, Group General Manager
INTRODUCING KAREN LAKE, GROUP GENERAL MANAGER • Commenced role with Promisia from 10 August 2023 • Over 15 years’ experience in aged care and healthcare sectors, in senior leadership, clinical, quality and operational management roles • Has worked for publicly listed providers, Oceania and Ryman Hea
Slide 4: Agenda
AGENDA • Presentations • Shareholder Discussion • Resolutions • Other Business • Close of the Meeting 4
Slide 5: Chair's Presentation
CHAIR’S PRESENTATION HELEN DOWN Acting Chair 5
Slide 6: Our Portfolio
OUR PORTFOLIO Our aim is to be the aged care provider of choice in our communities. Fielding: Ranfurly Manor Promisia is a New Zealand based aged care and Nelson St retirement living provider, with a focus on delivering quality personalised care. Dannevirke: Eileen Mary • Own and operate four facili
Slide 7: Our Strategy
OUR STRATEGY PROVIDING THE CARE PEOPLE NEED AS THEY AGE At the heart of our business is our focus on providing personalised care that focuses on respecting and helping our residents who need more of a helping hand. 7
Slide 8: Stronger Business
POSITIVE • InvestmentPROGRESS AGAINS22 into people and technology STRONGER STRATEGIC OBJECTIVES • Launch of new payroll and rostering BUSINESS system • Standardisation of IT platforms and Invest in our business and systems across the group our people, creating a robust • Focus on improved efficienci
Slide 9: Maximise Occupancy
MAXIMISE OCCUPANCY • Building occupancy at Aldwins House in Christchurch Grow revenue through offering • Early completion of Ranfurly Manor Village quality care to maximise • Strong demand and sales of new villas and occupancy at existing and future care suites at Ranfurly Manor village facilities,
Slide 10: Diverse Revenue Streams
DIVERSE REVENUE • Residential aged care funded by STREAMS Government and resident payment • Hospital care generates higher margins and remains a priority Increase the focus on independent living options, • Purpose built care suites are a growing broaden the range of services part of our portfolio of
Slide 11: Network Expansion
NETWORK • Focus on growing our network through EXPANSION acquisition and greenfield & brownfield developments Grow our network through • Investment criteria including strategic strategically located value-accretive objectives, risk profile, value accretive acquisitions, brownfield and greenfield dev
Slide 12: FY23 Summary of Financial Performance
FY23 SUMMARY OF FINANCIAL PERFORMANCE Profitable business with strong cashflows and balance sheet Financial Year FY22 FY23 • Total income of $23.8m, up 20% on prior year NZ $000’s • Careful cost management helping to mitigate Operating Revenue 19,939 23,8341 increased costs (inflation and workforce)
Slide 13: Network Expansion
We will pursue acquisition opportunities based on quality, geographic and cultural fit, demand for services, growth potential and contribution to profitability. NETWORK BROWNFIELD DEVELOPMENT: Expand or enhance existing facilities and maximise development EXPANSION opportunities GREENFIELD DEVELOPME
Slide 14: Strategic Approach to Network Expansion
STRATEGIC APPROACH TO NETWORK EXPANSION • Five potential acquisitions and greenfield development opportunities were assessed over the FY23 year • Any acquisition must meet Promisia’s investment criteria, including strategic objectives and risk profile, and be value accretive for shareholders • Being
Slide 15: Existing Landbank and Facility Development Opportunities
EXISTING LANDBANK AND FACILITY DEVELOPMENT OPPORTUNITIES • Ranfurly Manor: All 32 Villas completed and selling strongly. 14 care suites also completed and selling • Eileen Mary: Acquisition of adjoining property secures a development opportunity to scale up, leverage the existing infrastructure, mee
Slide 16: Focus on Care
We embrace personal care with genuine compassion and empathy and our team go the extra mile to ensure every resident feels valued and cherished, and receives the respect, attention and support they deserve. FOCUS ON CARE KAREN LAKE Group General Manager 16
Slide 17: What's Important
WHAT’S IMPORTANT • Prioritising quality care • Strong relationships • Respecting all members of the communities that we foster • Strong financial performance • Enhancing brand and culture • Compliance and risk 17
Slide 18: Facilities: Ranfurly Manor, Eileen Mary, Nelson Street, Aldwins House
Ranfurly Manor Eileen Mary Fielding Dannevirke Resthome/Hospital 74 Resthome/Hospital 39 Resthome – dementia care 25 Care suites 19 Apartments 62 Villas 5 Villas 38 Nelson Street Aldwins House Fielding Christchurch Resthome 49 Resthome/Hospital 145 18
Slide 19: Outlook
OUTLOOK 19
Slide 20: Attractive Sector Opportunity
ATTRACTIVE SECTOR OPPORTUNITY Strong demand underpinned The number of people in New Zealand aged over 65 rose from 12% to 16.4% by favourable population of the population between 2001 and 2022. It is expected to reach between demographics 21% and 25% by 2048. The aged care facilities currently avail
Slide 21: Outlook
OUTLOOK Your Board and Management are preparing for another year of increased earnings and business growth in FY24, as Promisia continues to deliver high quality care and positions itself to be the aged care facility of choice in each of our communities. • Pleasing progress being made against strate
Slide 22: Our People
OUR PEOPLE Our thanks go to our incredible team of carers, nurses and support staff who provide our residents with care, friendship, joy and respect every day. 22
Slide 23: Shareholder Discussion
SHAREHOLDER DISCUSSION 23
Slide 24: Resolutions
RESOLUTIONS Resolution 1: To record the re-appointment of William Buck New Zealand as auditor of the Company and to authorise the Directors to fix the auditor’s remuneration for the ensuing year. Resolution 2: That Craig Percy, who was appointed as a Director by the Board during the year, be elected
Slide 25: Other Business / Close of the Meeting
OTHER BUSINESS CLOSE OF THE MEETING 25
Slide 26: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $000 FY22 FY23 Non-GAAP financial information: Promisia reports on several non-GAAP measures when discussing financial performance including EBITDAF and Underlying EBITDAF. EBITDA 4,251 3,582 The company believes that these measures provide useful information on the underlyin
Slide 27: Disclaimer
DISCLAIMER • This presentation has been prepared by Promisia Healthcare Limited (“PHL”). The information in this presentation is of a general nature only. It is not a complete description of PHL. • This presentation is not a recommendation or offer of financial products for subscription, purchase or