Regis Healthcare Ltd. · ASX:REG
Regis Healthcare — H1 2015 Earnings Presentation
22 slides from Regis Healthcare's earnings presentation, Feb 20, 2015
Slide 1: Half Year Results and Business Update for period ended 31 December 2014
For personal use only Regis Healthcare Limited Half Year Results and Business Update for period ended 31 December 2014 20 February 2015
Slide 2: Contents
For personal use only Contents 01 Business and financial highlights 1H FY15 2 02 Growth strategy 9 03 Summary and outlook 14 04 Appendices 16
Slide 3: Business and financial highlights 1H FY15
01 For personal use only Business and financial highlights 1H FY15
Slide 4: Financial highlights 1H FY15
Financial highlights 1H FY15 For personal use only On track to outperform full year prospectus pro forma EBITDA and NPAT by 5–10% 1H FY15 highlights1 Revenue of EBITDA of FY15 EBITDA forecast $219.4m $51.2m upgrade by 51% of the FY15 prospectus forecast 59% of the FY15 prospectus forecast 5–10% NPAT
Slide 5: Portfolio overview
Portfolio overview For personal use only Regis has continued to execute its growth strategy Key portfolio statistics1 Regis facility network3 Number of facilities 46 Darwin (1) Total places 5,7032 Total operational places 4,855 Cairns (1) NT Total rooms 4,118 QLD Total single bed rooms 3,523 WA Suns
Slide 6: Business update – Key operational statistics
Business update – Key operational statistics For personal use only Strong operational performance underpinning solid financial results Key operational statistics FY20141 1H FY20152 Prospectus FY20151 Comment Total operational places 4,719 4,855 4,854 In line with forecast Average occupancy percentag
Slide 7: Earnings highlights
Earnings highlights For personal use only Strong care income a key contributor to 1H result Increases in EBITDA and NPAT forecasts driven by revenue Components of increase in ACFI per resident per day1 Increased revenue driven by increase in ACFI per resident per day — Increasing resident acuity 200
Slide 8: Cashflow highlights
Cashflow highlights For personal use only Net cash flow driven by strong EBITDA and significant net RAD inflows Financial details 1H FY15 pro forma cash flow exceeded expectations1 Strong cash flow to date performance 100 underpinned by 90 — EBITDA result 80 — Net RAD cashflow at $ 43.4 m or 92% of
Slide 9: Growth strategy
For personal use only 02 Growth strategy
Slide 10: Growth strategy
Growth strategy For personal use only The Regis growth strategy takes advantage of industry growth and consolidation and leverages the existing portfolio Regis’ growth strategy is to: Regis Malvern East – Construction commenced December 2014 Greenfield development program of multiple sites per annum
Slide 11: Expansion pipeline – Brownfield Projects
Expansion pipeline – Brownfield Projects1 For personal use only Status of current and planned projects with capex in FY15 and FY16 Site and facility acquisition Provisional New Allocations/ Total Net new Bed Land Development Licences in Expected construction First resident Project places places prof
Slide 12: Expansion Pipeline – Greenfield Projects
Expansion Pipeline – Greenfield Projects1 For personal use only Status of Regis current and planned projects with capex committed in FY15 and FY16 Site and facility acquisition Provisional Net New Allocations/ Total new additional Bed Land Development Licences in Expected construction First resident
Slide 13: Development Update
Development Update For personal use only Significant Refurbishment projects are on track to be completed by the end of FY15 The legislation changes introduced 1 July 2014 gave Aged Care Significant refurbishment snapshot (as at 20 February) providers the opportunity to receive a Higher Accommodation
Slide 14: Summary and outlook
03 For personal use only Summary and outlook
Slide 15: Summary and outlook
Summary and outlook For personal use only On track to outperform full year prospectus pro forma EBITDA and NPAT by 5–10% Earnings guidance upgrade of 5–10% due to strong operational performance — Average net ACFI per resident per day as at December 2014 was 2.5 % ahead of FY15 prospectus forecast —
Slide 16: Appendices
For personal use only 04 Appendices
Slide 17: Appendix A: Income Statements
Appendix A: Income Statements For personal use only Pro forma actual Prospectus pro forma forecast1 Prospectus statutory forecast ($ millions) 1H FY2015 FY2015 1H% forecast FY2015 Revenue Government revenue 149.9 292.1 51% 293.1 Resident revenue 61.0 121.6 50% 121.6 Other income 8.52 13.6 62% 13.6 T
Slide 18: Appendix B: Cashflow Statement
Appendix B: Cashflow Statement For personal use only Prospectus Prospectus Pro forma actual 1H 2015 Pro forma forecast1 Statutory forecast ($ millions) as at 31 December 2014 As at 30 June 2015 As at 30 June 2015 EBITDA 51.2 86.9 84.4 Change in net working capital (0.4) (1.1) (1.1) Non–cash items in
Slide 19: Appendix C: Balance Sheet
Appendix C: Balance Sheet Prospectus Pro forma (As at, $ millions) 30 June 2014 31 December 2014 For personal use only Cash and cash equivalents 40.1 72.9 Trade and other receivables 3.8 3.6 Other current assets 2.0 3.8 Total current assets 45.9 80.3 Land and buildings 511.4 553.2 Plant and equipmen
Slide 20: Appendix D: Statutory to pro forma reconciliation
Appendix D: Statutory to pro forma reconciliation For personal use only Financial half year ended 31 December 2014 ($ millions) Income EBITDA1 NPBT NPAT Net cash flow 1H2015 statutory results 220.52 48.7 25.2 15.1 32.5 Dementia supplement (1.1) (1.1) (1.1) (1.1) (1.1) Full year incremental listed co
Slide 21: Appendix E: Company snapshot
Appendix E: Company snapshot For personal use only One of the largest residential aged care operators in Australia Overview Share Price and Volume Regis Healthcare Limited (ASX: REG) is an ASX listed, residential aged $4.70 12.0 care operator that listed on 7 October 2014 $4.50 10.0 One of the large
Slide 22: Important notice
Important notice For personal use only This presentation contains general information about the activities of Regis Healthcare Limited (Regis) which is current as at 20th February 2015. It is in summary form and does not purport to be complete. It presents financial information on both a statutory b