Half Year 2025 Ryman Healthcare Ltd Earnings Call Transcript
Key Points
- Ryman Healthcare Ltd (RHCGF) achieved record settlements of 827 ORAs and $651 million in gross receipts, marking the highest level in the last three years.
- The company delivered 667 retirement units and aged care beds in the first half, including significant new facilities in New Zealand.
- Ryman Healthcare Ltd (RHCGF) has implemented a new pricing structure for RV units, which is expected to create significant long-term value for shareholders.
- The company has achieved $18 million in annualized savings in non-village operating expenses, with a target to achieve similar savings by the end of FY26.
- Ryman Healthcare Ltd (RHCGF) maintains a strong brand reputation, being acknowledged as best in class across three separate cohorts in New Zealand.
- Ryman Healthcare Ltd (RHCGF) reported a net loss before tax and fair value movements of $79.8 million, down $17.8 million from the prior half.
- Cash flow from existing operations was negative at $7.8 million, a decrease of $24.8 million compared to the first half of '24.
- The company's debt increased by $50 million to $2.56 billion, with gearing remaining above the target range of 30% to 35%.
- Occupancy rates for aged care and retirement units have slightly decreased, with aged care occupancy at 91.7% and retirement unit occupancy at 87.9%.
- Ryman Healthcare Ltd (RHCGF) has not declared a dividend for this period, with plans to review the dividend policy in FY26.
Thank you for standing by and welcome to the Ryman Healthcare half-year results briefing. (Operator Instructions)
I would now like to hand the conference over to Ryman Healthcare's Chairman, Dean Hamilton. Please go ahead.
Welcome everybody. I'm Dean Hamilton, Executive Chair of Ryman. We appreciate you dialing in today.
There's a lot to cover today, but just before we get into the presentation, I'd like to take the opportunity to acknowledge the passing sadly this year of one of our two founders, Kevin Hickman. Kevin, along with John Ryder, founded Ryman 40 years ago and essentially pioneered integrated retirement living and aged care as we know it today. It literally didn't exist before both John and Kevin.
Along with others, I was fortunate to attend the service for Kevin at the Christchurch Town Hall. It was certainly humbling to hear of his contribution, not only to our sector, but also to athletics and to his other real passion, and that was horse
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