Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q1 2025 Earnings Presentation
15 slides from Dri Healthcare Trust's earnings presentation, May 13, 2025
Slide 1: Advancing Science in the Pharmaceutical and Biotechnology Sector
Advancing Science in the Pharmaceutical and Biotechnology Sector Q1 2025 Earnings Call | May 13, 2025 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by DRI Healthcare Trust (the “Trust”). The Trust is an unincorporated open-ended trust governed by the laws of the Province of Ontario, Canada and is externally managed by DRI Capital Inc. (“DRI Healthcare”). The Trust completed an initial public offeri
Slide 3: Gary Collins
Gary Collins Chairman & Chief Executive Officer 3
Slide 4: Agenda
Agenda Gary Collins CEO & Chairman Recent Highlights Ali Hedayat Acting CEO, DRI Healthcare Internalization Update All Q&A Navin Jacob CIO, DRI Healthcare Portfolio Update Amit Kapur CFO Financial Update 4
Slide 5: Recent Highlights
Recent Highlights Focus on asset strength, corporate structure and unitholder returns Portfolio Performance Manager Internalization NCIB Activation Assets tracking as anticipated Becoming an integrated organization Capitalize on undervalued units • Growth assets making significant • $49 million paym
Slide 6: Ali Hedayat
Ali Hedayat Acting Chief Executive Officer DRI Healthcare 6
Slide 7: Internalizing the manager function
Internalizing the manager function Current Structure1 Final Integrated Structure1 Management Agreement DRI Capital Inc. DHT DHT Management Agreement 100% 100% 100% New DRI Healthcare DRI Healthcare Management ICAV ICAV Co DHT Portfolio DRI Platform DHT Portfolio DRI Platform • 28 royalty streams • ~
Slide 8: Internalization will lead to significant strategic benefits
Internalization will lead to significant strategic benefits Aligns stakeholder interests and yields higher cash returns Better strategic alignment of interests between unitholders Cumulative savings anticipated1 Strategic alignment & and the Trust governance Fully aligned management team $250
Slide 9: Navin Jacob
Navin Jacob Executive Vice President, Investments & Chief Investment Officer, DRI Healthcare 9
Slide 10: Portfolio performance
Portfolio performance Portfolio assets show continued growth ($ millions) Q1 2025 Q1 2024 % Change1 Q4 2024 % Change1 TOTAL CASH RECEIPTS2 $62.0 $63.5 (2)% $44.6 39% 5.0 - n/a - n/a 1.1 - n/a 2.0 (45) 1.9 1.7 8 1.7 12 0.3 0.6 (51) 0.4 (25) 8.0 8.6 (7) 8.3 (4) 1.5 2.5 (37) 1.6 (6) 31.4 31.6 - 13.9 12
Slide 11: $3 billion robust pipeline of potential opportunities
Address important unmet needs with life-changing therapies for patients Robust pipeline of over $3 billion Marketed by leading biotech or biopharma companies in potential opportunities1 Provides strong intellectual property and regulatory protection 1. As of May 13, 2025. Represents the aggregate va
Slide 12: Amit Kapur
Amit Kapur Chief Financial Officer 12
Slide 13: Q1 2025 financial highlights
Q1 2025 financial highlights Total Cash Receipts1 Total Income Adjusted EBITDA1 $62.0 million $44.0 million $51.7 million -2% over Q1 2024 5% over Q1 2024 -7% over Q1 2024 Adjusted EBITDA Margin1 Adjusted Cash Earnings per Unit1 Declared Cash Distributions per Unit 83% $0.43 $0.10 1. Total Cash Rece
Slide 14: Strong cash generation
Strong cash generation Cash available to drive portfolio growth and maintain distributions to unitholders Adjusted EBITDA for the Last Twelve Months Ended March 31, 2025 ($M)1 Adjusted EBITDA Margin1 81% $3.1 $1.5 $1.9 $189.5 ($1.4) ($1.5) $1.9 $188.5 ($19.4) $183.0 ($13.6) ($2.8) $152.8 -- Adjusted
Slide 15: Well capitalized for growth
Well capitalized for growth Significant capacity for Cash and cash equivalents Royalties receivable Credit facility availability further $55.7 $45.0 $312.5 growth million1 million1 million1 1. As at March 31, 2025. 15