Sonida Senior Living, Inc. · NYSE:SNDA
Sonida Senior Living — Capital Senior Living — Q1 2011 Earnings Presentation
19 slides from Sonida Senior Living's earnings presentation, May 5, 2011
Slide 1: Capital Senior Living Corporation
Capital Senior Living Corporation
Slide 2: Forward-Looking Statements
Forward-Looking Statements The forward-looking statements in this presentation are subject to certain risks and uncertainties that could cause results to differ materially, including, but not without limitation to, the Company’s ability wholly owned communities, realize the anticipated savings relat
Slide 3: Company Overview
Company Overview Capital Senior Living is one senior livingof communities Industry enjoys favorable demographic and supply/demand trends Need driven business with strong cash flow generation Well positioned for accretive growth opportunities from acquisitions and conversions Solid Balance Sheet with
Slide 4: Company Overview
Company Overview Capital Senior Living operates 77 communities in 23 states with the ability to serve 11,000 residents Operates in geographically concentrated markets
Slide 5: Resident Demographics at CSU Communities
Resident Demographics at CSU Communities Average age of resident: 85 years Average age of resident moving in: 82 years Average stay period: 2-3 years Percent of female residents: 80% Resident turnover is primarily attributed to death or need for higher care
Slide 6: The Capital Advantage: Senior Living Options - Independent Living
The Capital Advantage: Senior Living Options Independent Living 62% of Units Operated Average 131 units per IL community with large common areas and amenities Supportive services, wellness programs, social, recreational, and educational events Average monthly rate of $2,300 100% private pay Average
Slide 7: The Capital Advantage: Senior Living Options - Assisted Living
The Capital Advantage: Senior Living Options Assisted Living 31% of Units Operated Average 66 units per AL community 70% of communities offer AL units Assistance with activities of daily living such as medication reminders, bathing, dressing and grooming Average monthly rate of $3,600 96% private pa
Slide 8: The Capital Advantage: Favorable Demographics
The Capital Advantage: Favorable Demographics U.S. population 75+ years old is estimated to grow by 3.5 million through 2015 Only 1.3 million units serving a population of 18.9 million seniors Current 6.9% penetration rate implies demand growth of 40,000 units per year
Slide 9: The Capital Advantage: Favorable Supply Trends
The Capital Advantage: Favorable Supply Trends New supply is constrained as construction starts are at a low level Construction in Top 31 Metros (Units) (1)
Slide 10: The Capital Advantage: Competitive Strengths
The Capital Advantage: Competitive Strengths Experienced on-site, regional, and corporate management Larger company economies of scale and systems that yield operating efficiencies in highly fragmented industry Strong institutional relationships (debt and equity) Nimble platform and organizational s
Slide 11: The Capital Advantage: Strategy
The Capital Advantage: Strategy Focus on our core strengths Maximize the cash flow generated by our communities and our operations Enhance geographic concentration and maximize competitive strengths within each of our markets Increase levels of care through conversions to AL or MC units and acquisit
Slide 12: 2011 Business Plan
2011 Business Plan Focused on operations, marketing and growth to enhance shareholder value through: Organic growth Proactive expense management Accretive acquisitions and conversions Utilization of technology
Slide 13: 2011 Business Plan: Organic Growth
2011 Business Plan : Organic Growth Increase average rents Improve occupancies Each 1% generates $3M of revenue, $2M of EBITDAR and $0.05 per share of CFFO Convert 170 units to higher levels of care Incremental $5M of revenue and $3M of EBITDAR Cash flow enhancing renovations and refurbishments Inte
Slide 14: 2011 Business Plan: External Growth
2011 Business Plan : External Growth Strategic acquisitions of primarily AL communities to enhance geographic concentrations - Example of a $100.0 million acquisition (in millions) Debt $70.0 Equity $30.0 Revenue $24.0 EBITDAR $9.6 Cash Flow From Operations $4.2 CFFO per Share $0.16
Slide 15: Income Statement: Q1 Comparison
Income Statement: Q1 11 Comparison (in millions, except per share) As adjusted in press releases % Increase Total Revenues $ 59.8 $ 47.9 24.9% Operating Expenses (34.0) (26.3) General & Administrative Expenses (2.8) (3.0) Other Expense (2.5) (4.3) EBITDAR $ 20.5 $ 14.3 43.1% % Margin 34.3% 29.9% Lea
Slide 16: Pro-forma Incremental Impact of Spring Meadows Transaction
Pro-forma Incremental Impact of Spring Meadows Transaction (in millions, except number of properties and per share) Q1 11 Spring Meadows _____ Total Annualized _____ Annualized Number of Consolidated 70 4 74 Properties Revenue $239.2 $26.0 $265.2 EBITDAR $82.0 $12.2 $94.2 CFFO $23.2 $0.7 $23.9 CFFO
Slide 17: Balance Sheet
Balance Sheet As of March 31, 2011 (in millions) ASSETS Cash and Securities $ 38.8 Other Current Assets 24.1 Total Current Assets 62.9 Fixed Assets 293.0 Other Assets 24.8 TOTAL ASSETS $380.7 LIABILITIES & EQUITY Current Liabilities $ 28.8 Long-Term Debt 169.0 Other Liabilities 16.4 Total Liabilitie
Slide 18: Investment Highlights
Investment Highlights Favorable demographics and attractive industry fundamentals Experienced management team with demonstrated ability to operate, acquire and create value Predominately private pay with minimal federal regulation Conversion initiatives with significant revenue and cash flow growth
Slide 19: Capital Senior Living Corporation
Capital Senior Living Corporation
Capital Senior Living — Q1 2011 Earnings Presentation on 6ix