Sienna Senior Living Inc. · TSX:SIA
Sienna Senior Living — Q3 2024 Earnings Presentation
17 slides from Sienna Senior Living's earnings presentation, Nov 12, 2024
Slide 1: Q3 2024 Conference Call
Q3 2024 Conference Call November 12, 2024
Slide 2: Cautionary Note
Cautionary Note Certain information in this presentation may contain forward-looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material factors or assumptions were applied in drawing conclusions or m
Slide 3: Presenters
Presenters Nitin Jain Chief Executive Officer, President & Director David Hung Chief Financial Officer & Executive Vice President
Slide 4: The Growth Momentum Continues
The Growth Momentum Continues 7 Quarters of Year over Year Same Property NOI Growth Initiatives to raise capital met with overwhelming investor demand Successful expansion into Province of Alberta Our team members are deeply aligned with Sienna’s success and the key drivers of our organizational str
Slide 5: Strong Results
Strong Results Double-Digit Year over Year Adjusted Same Property NOI Growth 18.3% 11.0% Q3 2024 Q3 2024 SP NOI Growth Adjusted SP NOI Growth in LTC Segment in Retirement Segment 14.7% Q3 2024 Total Adjusted SP NOI Growth Sienna Senior Living 5
Slide 6: Retirement Occupancy Exceeds 90%
Retirement Occupancy Exceeds 90% Retirement Same Property Occupancy Percent Occupancy is exceeding 90% for the first time in over 5 years 250 bps Q3 Year over Year Increase in Retirement Same Property Occupancy Sienna Senior Living 6
Slide 7: Successfully Accessing Capital Markets
Successfully Accessing Capital Markets Nicola Lodge Port Coquitlam, British Columbia $144M Equity Raise at $15.00/share $150M Unsecured Debenture Issuance Financings are further strengthening Sienna’s position for growth Sienna Senior Living 7
Slide 8: Expanding in Western Canada
Expanding in Western Canada $182M Alberta Portfolio Acquisition Expected to close in early 2025 $26.5M … Acquisition of 30% Interest in Nicola Lodge Medicine Hat Care Community Expected to close in early 2025 Medicine Hat, Alberta Sienna Senior Living 8
Slide 9: Development Progress in Ontario
Development Progress in Ontario Oakwood Commons & Aspira Brants Landing (Campus of Care) Brantford, Ontario – October 2024 Aspira Brants Landing Sales Centre $300M+ Properties currently under development Northern Heights Community North Bay, Ontario – October 2024 Sienna Senior Living 9
Slide 10: Team Member Engagement Reaches New High
Team Member Engagement Reaches New High 2024 is fourth consecutive year of improving team member engagement Ability to do meaningful work remains one of Sienna’s most important engagement drivers Investments in team members – from training & development, improved onboarding to Sienna’s ownersh
Slide 11: Operating & Financial Results
Operating & Financial Results
Slide 12: Q3 Operating Results
Q3 Operating Results Q3 2024 Q3 2023 Total Adjusted Revenue $224.8M $199.8M Long-term care operations +12.5% benefitting from higher revenue, offset by inflationary expense Total Adjusted Same Property $43.4M $37.8M increases Net Operating Income (“NOI”) +14.7% Retirement operations Long-Term Care (
Slide 13: Q3 Funds From Operations
Q3 Funds From Operations Q3 2024 Q3 2023 OFFO benefitting form higher NOI Operating Funds from $23.9M $20.1M +19.0% Operations (“OFFO”) AFFO increase as a result of higher OFFO, offset partly by higher $0.312 $0.275 maintenance capital expenditure and OFFO per share +13.5% a decrease in construction
Slide 14: Debt Maturities
Strong Financial Position 6.2 years Weighted Average Term to Maturity $517M Liquidity Debt Maturities Series B Unsecured $1.0B Series D Unsecured Debentures Debentures Unsecured Series C Debentures Unencumbered Assets 42.3% Debt to Adjusted * On September 10, Sienna announced the issuance of $150 Mi
Slide 15: Demographic Shift Propelling Growth
Demographic Shift Propelling Growth Projected Population Growth of Construction starts as % of senior housing 85+ Age Group in Canada inventory +65% 1.65 Million 85+ Population +15% 1.0 Million Source: Cushman & Wakefield ULC Canadian senior living presents unprecedented growth potential Source: Sta
Slide 16: Outlook
Outlook LTC 2024 SP NOI Elgin Falls Retirement Residence Niagara Falls, Ontario Expected to grow in low double digit percentage range* * excluding one-time and retroactive funding amounts of $23.7 million related to prior years Retirement 2024 SP NOI Expected to grow in high single digit percentage
Slide 17: Contact Information
Contact Information David Hung Chief Financial Officer and Executive Vice President t: (905) 489-0258 e: david.hung@siennaliving.ca Nancy Webb Senior Vice President, Public Affairs & Marketing t: (905) 489-0788 e: nancy.webb@siennaliving.ca