RYMAN HEALTHCARE FULL YEAR RESULTS 31 March 2017

Transcription

1 RYMAN HEALTHCARE FULL YEAR RESULTS 31 March 2017

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3 FULL YEAR HIGHLIGHTS Underlying profit up 13% to $178 million Reported profit up 17% to $357 million Full year dividend 17.8 cents per share up 13% Record investment of $525 million

4 15 YEARS OF DIVIDEND GROWTH Cents per share

5 TROPICANA Auckland

6 INVESTING IN CARE

7 15 YEARS OF UNDERLYING PROFIT GROWTH $ Million

8 REPORTED PROFIT GROWTH $ Million

9 FY17 - INVESTING CASH FLOWS $ Millions Land New villages Projects Village upgrades

10 ESSIE SUMMERS CHRISTCHURCH

11 TOTAL ASSETS 6 40% $ Billion % 30% 25% 20% 15% 10% 5% 0 Mar 07 Mar 08 Mar 09 Mar 10 Mar 11 Mar 12 Mar 13 Mar 14 Mar 15 Mar 16 Mar 17 0% Total Assets Bank debt to bank debt + equity

12 DEVELOPMENT MARGIN 35% 30% 25% 20% Target range 15% 10% 5% 0%

13 RESALES BANK Melbourne $ Million New Zealand The resales bank represents the extent that the current price exceeds the price paid by the current resident for the unit's occupancy rights

14 SALES PRICING VS MEDIAN HOUSE PRICE $ Thousand Melbourne Auckland Median house price - area Ryman - Independent Ryman - Serviced

15 CAPITAL PROCEEDS Gross Occupancy Advances $ Billion Mar 11 Mar 17 Mar 22 * * Indicative occupancy advances estimate only

16 LONG TERM CAPITAL EFFICIENCY $25m raised at IPO in 1999 Invested $2.6bn in portfolio since With no fresh capital Dividends of $585m paid since float Self-funded growth Strong balance sheet

17 3 NEW VILLAGES CONSENTED Brandon Park Devonport Tropicana

18 AGE OF RESIDENTS AT ENTRY No of Residents Independent Residents Care/Serviced Residents

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20 COBURG Melbourne

21 Village Design Consenting Construction Village open Final stages Petone Pukekohe Rangiora Birkenhead Greenlane Brandon Park Tropicana Devonport

22 Village Design Consenting Construction Village open Final stages Burwood East Coburg Mt Eliza Hamilton Hobsonville Newtown Geelong Site A, NZ Site B, NZ

23 TROPICANA Auckland

24 DEVONPORT Auckland

25 BRANDON PARK Melbourne

26 THE LONG LUNCH

27 MYRYMAN CARE

28 MYRYMAN CARE

29 RYMAN LEADERS

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39 MT ELIZA Melbourne

40 APPENDICES

41 APPENDIX 1: REPORTED PROFIT UP 17% Underlying profit Unrealised revaluations of RV units Income tax expense Reported net profit $178.3M +$184.7M -$6.3M $356.7M

42 APPENDIX 2: STATISTICS Sales of Occupation Rights Full year Mar-17 Full year Mar-16 Existing units Independent Serviced New units Independent Serviced Portfolio and Build Rate Retirement village units Independent 4,131 3,688 Serviced 1,837 1,659 5,968 5,347 Units built Aged Care Beds 3,281 3,121 Beds built Total Portfolio 9,249 8,468 Total build

43 APPENDIX 3: MARGIN Full year Mar-17 Full year Mar-16 New Sales $000s $000s Reference Realised Fair Value movement new RV units (Note 3) 62,959 62,396 Sale of occupation rights new RV units (Key statistics) 263, ,215 Gross development margin % 24% 28% Resales Realised Fair Value movement existing RV units (Note 3) 77,286 60,613 Sale of occupation rights existing RV units (Key statistics) 311, ,901 Gross resales margin % 25% 22%

44 APPENDIX 4: ASSET BASE Hospital Dementia Resthome Serviced Independent Total Woodcote Christchurch Beckenham Courts Christchurch Margaret Stoddart Christchurch Frances Hodgkins Dunedin Rowena Jackson Invercargill Malvina Major Wellington Ngaio Marsh Christchurch Shona McFarlane Lower Hutt Rita Angus Wellington Hilda Ross Hamilton Grace Joel Auckland Princess Alexandra Napier Jane Winstone Wanganui Anthony Wilding Christchurch Edmund Hillary Auckland Julia Wallace Palmerston North Ernest Rutherford Nelson Jean Sandel New Plymouth Jane Mander Whangarei Evelyn Page Orewa Yvette Williams Dunedin Kiri Te Kanawa Gisborne Bob Owens Tauranga Diana Isaac Christchurch Charles Fleming Waikanae Bruce McLaren Auckland Bob Scott Petone Bert Sutcliffe Auckland Possum Bourne Pukekohe Charles Upham Rangiora Weary Dunlop Melbourne Current Units & Beds 1, ,047 1,837 4,131 9,249

45 APPENDIX 5: LAND BANK Hospital Dementia Resthome Serviced Independent Total NEW ZEALAND Existing Sites Jean Sandel New Plymouth Kiri Te Kanawa Gisborne Bob Scott Lower Hutt Bert Sutcliffe Auckland Possum Bourne Pukekhoe Charles Upham Rangiora Total NZ Existing Sites New Sites Campbell Road, Greenlane Auckland Narrow Neck Auckland Tropicana Auckland Site A River Road Hamilton Newtown Wellington Hobsonville Auckland Site B Total NZ New Sites Total New Zealand Landbank Australia New Sites Brandon Park Melbourne Burwood East Melbourne Mount Eliza Melbourne Coburg Melbourne Geelong Melbourne Total Australian Landbank Total

46 APPENDIX 6: CASH MANAGEMENT FEES Full year Mar-17 Full year Mar-16 $000s $000s Reference Accrued Management Fees Opening (Note 4) and PY financials 227, ,679 Less: Accrued Management Fees Closing (Note 4) -270, ,154 Movement in Accrued Management Fees -43,216-35,475 Plus: DMF income Income statement 60,988 50,632 Plus: Revenue in advance movement (Note 2) 7,670 4,951 Plus: Movement in resident loans / GST / accommodation credit Not disclosed 3,266 3,902 Cash Management Fees 28,708 24,010

47 APPENDIX 7: POPULATION GROWTH 75+ Annual increase in population New Zealand Victoria