Sonida Senior Living, Inc. · NYSE:SNDA
Sonida Senior Living — Capital Senior Living — Investor Presentation (May 2014)
21 slides from Sonida Senior Living's investor presentation, May 6, 2014
Slide 1: Capital Senior Living Company Presentation
Capital Senior Living Company Presentation Exhibit 99.2
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements 2 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 to complete the refinancing of certain of our wholly owned
Slide 3: Investment Highlights
Investment Highlights 3 Value leader in providing quality seniors housing and care at reasonable prices Well positioned to make meaningful gains in shareholder value Substantially all private pay with strong cash flow generation Industry benefits from need-driven demand, limited new supply and impro
Slide 4: Company Overview
4 Company Overview AR. 173 FL. 226 IA. 122 IL. 650 IN. 2,247 KS. 165 LA. 133 MI. 429 MN. 173 MO. 662 MS. 143 NC. 593 SC. 669 NE. 668 NY. 387 OH. 2,060 OK. 143 TX. 3,720 VA. 153 CA. 408 AZ. 189 GA. 70 WI. 150 Capital Senior Living operates 113 communities in geographically concentrated regions with t
Slide 5: Resident Demographics at CSU Communities
5 Resident Demographics at CSU Communities Average age of resident: 85 years Average age of resident moving in: 82 years Average stay period: -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 6 Independent Living – 52% of Resident Capacity Average 113 units per IL community with large common areas and amenities Supportive services, wellness programs, social, recreational and educational events Average monthly rate of $2,437 100% private pay Av
Slide 7: The Capital Advantage: Senior Living Options (Assisted Living)
7 The Capital Advantage: Senior Living Options Assisted Living- 48% of Resident Capacity Average 64 units per community 74% of communities offer AL Assistance with activities of daily living including medication reminders, bathing, dressing and grooming Average monthly rate of $3,955 Substantially a
Slide 8: The Capital Advantage: Need Driven Demand
8 The Capital Advantage: Need Driven Demand 18.9 22.4 U.S. population 75+ years old is estimated to grow by 3.5 million from 2009 through 2015 U.S. Seniors Population Trends (75+ years old) (Population in millions) Implied demand growth of 40,000 units per year Source: NIC Investment Guide 2010 and
Slide 9: The Capital Advantage: Limited New Supply
The Capital Advantage: Limited New Supply 9 Source: NIC MAP Trends All Markets Q1 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Absorption Inventory Growth
Slide 10: The Capital Advantage: Senior Housing Occupancy Trends
10 The Capital Advantage: Senior Housing Occupancy Trends Source: NIC MAP Trends All Markets Q1 14 92.0% 91.0% 90.0% 89.0% 88.0% 87.0% 86.0% IL Communities AL Communities
Slide 11: The Capital Advantage: Competitive Strengths
The Capital Advantage: Competitive Strengths 11 Value leader in geographically concentrated regions Experienced on-site, regional and corporate management Larger company economies of scale and proprietary systems that yield operating efficiencies in highly fragmented industry Solid reputation in ind
Slide 12: The Capital Advantage: Strategy
12 The Capital Advantage: Strategy Focus on our core strengths Capitalize on competitive strengths within each of our regions to maximize the cash flow generated by our communities and our operations Capitalize on the fragmented nature of the senior living industry to strategically aggregate local a
Slide 13: 2014 Business Plan
2014 Business Plan 13 Focused on Operations, marketing and growth to enhance shareholder value through: Organic growth Proactive expense Management Accretive acquisitions, unit conversions and community refurbishment projects Utilization of technology
Slide 14: 2014 Business Plan: Organic Growth
2014 Business Plan: Organic Growth 14 Increase average rents Each 3% increase generates $10.8M of revenue Improve occupancies Each 1% generates $4.0M of revenue, $2.8M of EBITDAR and $0.06 per share of CFFO Convert units to higher levels of care Cash flow enhancing renovations and refurbishments New
Slide 15: Solving to Achieve 90% Occupancy
Solving to Achieve 90% Occupancy Q1 2014 Planned IL to AL Conversions Occupancy After Conversions Stabilize 15 IL AL Total Total Units 5,927 5,206 11,133 Occupied Units 5,050 4,654 9,704 Occupancy % 85.2% 89.4% 87.1% IL AL Units (360) At 90% Stabilized Occupancy Note: Conversions are subject to cust
Slide 16: 2014 Business Plan: External Growth
2011 2012 2013 Combined 16 2014 Business Plan: External Growth (in millions except number of communities and units) Purchase Price $83.4 $181.3 $150.4 $415.1 Communities Units 1,367 2,799 Debt $59.3 $129.5 $112.3 $301.1 Equity $24.1 $51.8 $38.1 $114.0 First Year Revenue $21.3 $49.1 $35.1 $105.5 Firs
Slide 17: Operating Performance
17 Operating Performance Revenue and EBITDAR growth EBITDAR increased 107.7% on an 85.6% increase in revenue EBITDAR margin increased from 29.9% in Q1 2010 to 34.6% in Q4 2013 * As adjusted in Q4 2013 earnings release $100.0 $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 38.0% 36.0% 34.0
Slide 18: Comparative Operating Metrics
Comparative Operating Metrics 2013 2012 % Increase 18 As adjusted in press releases Total Revenues $ 350.4 $ 310.5 12.8% EBITDAR $ 119.6 $ 110.0 8.7% % Margin 34.9% 35.4% CFFO $ 42.6 $ 37.3 14.2% CFFO Per Share $1.53 $1.36
Slide 19: Balance Sheet
Balance Sheet ASSETS LIABILITIES & EQUITY 19 As of December 31, 2013 (in millions) Cash and Securities $ 25.0 Other Current Assets 27.8 Total Current Assets 52.8 Fixed Assets 650.0 Other Assets 42.7 TOTAL ASSETS $ 745.5 Current Liabilities $ 58.7 Long-Term Debt 467.4 Other Liabilities 61.4 Total Lia
Slide 20: Investment Highlights
Investment Highlights 20 Value leader in geographically concentrated regions Substantially all private pay Need-driven demand , limited new supply and improving housing market Experienced management team with demonstrated ability to operate, acquire and create shareholder value Accretive acquisition
Slide 21: Capital Senior Living
Capital Senior Living Company Presentation
Capital Senior Living — Investor Presentation (May 2014) on 6ix