Sienna Senior Living Inc. · TSX:SIA
Sienna Senior Living — Q4 2024 Earnings Presentation
16 slides from Sienna Senior Living's earnings presentation, Feb 20, 2025
Slide 1: Q4 2024 Conference Call
Q4 2024 Conference Call February 20, 2025
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, Investments 3
Slide 4: Sienna is maintaining exceptional growth momentum
Sienna is maintaining exceptional growth momentum as the rapid increase in seniors is driving demand Aspira Brants Landing & Oakwood Commons (Campus of Care) Bantford, Ontario – December 2024 4
Slide 5: Strong Results
Strong Results Nicola Lodge Port Coquitlam, British Columbia 29.0% Q4 2024 Year-over-Year Increase in Long-Term Care Same Property NOI Aspira Villa DaVinci Vaughan, Ontario 15.3% Q4 2024 Year-over-Year Increase in Retirement Same Property NOI 8 quarters of consecutive year-over-year growth Sienna Se
Slide 6: Progressing Towards Stabilized Occupancy
Progressing Towards Stabilized Occupancy Retirement Same Property Occupancy 300 bps Q4 2024 Percent Year-over-Year Increase in Retirement Same Property Occupancy 95% Occupancy Target within 12 months Sienna Senior Living 6
Slide 7: Creating Value through Asset Optimization
Creating Value through Asset Optimization Targeting a better market fit Renovations Change in suite mix Offering additional services Aspira Lynde Creek Gardens Whitby, Ontario Asset optimization initiatives supporting NOI and margin growth Sienna Senior Living 7
Slide 8: Acquisitions in Key Markets in Ontario
Acquisitions in Key Markets in Ontario Wildpine Residence Ottawa, Ontario $48.0M Retirement Residence 6.25% Cap Rate Cawthra Gardens Mississauga, Ontario $32.6M Long-Term Care Home 6.75% Cap Rate ~$300M of total acquisitions under contract Sienna Senior Living 8
Slide 9: Value Creation through Redevelopment
Value Creation through Redevelopment 1 Enhances quality of portfolio through modern, more efficient and environmentally friendly buildings 2 Aligns with Government of Ontario’s target to build 30,000 new LTC beds by 2028 3 Adds significant economic value Highly attractive government incentives Aspir
Slide 10: Operating & Financial Results
Operating & Financial Results 10
Slide 11: Q4 Operating Results
Q4 Operating Results Q4 2024 Q4 2023 Total Adjusted Revenue $246.3M $218.9M Long-term care operations +12.5% benefitting from significant funding increases and higher Total Adjusted Same Property $45.5M $37.1M private accommodation revenue Net Operating Income (“NOI”) +22.6% Retirement operations Re
Slide 12: Q4 Funds From Operations
Q4 Funds From Operations Q4 2024 Q4 2023 Operating Funds from $29.4M $22.1M Operations (“OFFO”) +33.1% Increases in OFFO and AFFO largely as a result of higher NOI $0.356 $0.303 OFFO per share +17.5% AFFO payout ratio at 77.1% in Q4 2024 Adjusted Funds from $25.1M $17.8M Operations (“AFFO”) +41.3% $
Slide 13: Financial Position and Debt Maturities
Financial Position 6.7 years Weighted Average Term to Maturity $435M Liquidity Debt Maturities $1.1B Series B Unsecured Series A Unsecured Debentures Unsecured Debentures Series C Debentures Unencumbered Assets 41.1% Debt to Adjusted Gross Book Value As at December 31, 2024 Strong balance sheet supp
Slide 14: Outstanding Senior Living Fundamentals
Outstanding Senior Living Fundamentals Accelerating demand for senior living Stable and engaged workforce through investments in team members 30% reduction in team member turnover in 2024 Reduced reliance on agency staffing Sienna Senior Living 14
Slide 15: Outlook
Outlook Aspira Hunter Village Saskatoon, Saskatchewan Retirement Retirement 2025 SP NOI SP Occupancy Growth Target Growth Target ~10% ~95% within 12 months Glenmore Lodge Kelowna, British Columbia LTC Retirement 2025 SP NOI 2025 SP Margin Growth Target Growth Target low single digit 100 – 150 bps in
Slide 16: Contact Information
Contact Information David Hung Chief Financial Officer and Executive Vice President, Investments t: (905) 489-0258 e: david.hung@siennaliving.ca Nancy Webb Executive Vice President, Corporate Affairs & Marketing t: (905) 489-0788 e: nancy.webb@siennaliving.ca 16