PHL - Promisia Healthcare Interim Results

Tuesday 28th November 2023

Promisia Healthcare Limited (NZX: PHL , “Promisia”) has announced its unaudited results for the six months ended 30 September 2023 (1H24).

The company continues to focus on its commercial objectives, delivering increasing occupancy, strong new villa sales and resales, and a relentless focus on high quality, personalised care.

Chair of Promisia, Rhonda Sherriff, commented: “Good progress is being made and Promisia is well positioned to take advantage of market opportunities. Our business is in good shape, with a strong and experienced Board and management team, and we are looking forward to delivering another year of increased earnings and business growth in FY24.”

Six month strategic and financial snapshot:

• Welcomed new Board leadership with appointment of industry expert, Rhonda Sherriff, as Chair, as well as Jill Hatchwell as Independent Director and Chair of the Audit and Risk

Management Committee.

• Restructured and strengthened the leadership team with appointment of Karen Lake as Group GM, along with a new GM of Finance and new Clinical and Quality Manager

• Review of strategy and re-set of objectives to drive commercial growth

• Continuing improvement in occupancy across the Group

• Continue to explore expansion and growth opportunities

• Revenue $12.9m, +11% yoy

• EBITDAF1 $1.6m, -11% yoy

• Net Loss After Tax $(152)k, down from a profit of $382k in prior year, reflecting one-off costs associated with the leadership and Board transition

• Total assets $73.6m, +12% yoy

• Borrowings $30.4m, +2% yoy

For further information on Promisia’s six month performance, please read the Interim Report for the six months ended 30 September 2023.

ENDS

For more information, please contact:

Francisco Rodriguez Ferrere, General Manager Finance on +64 21 245 1801 or email francisco.rf@promisia.co.nz.

For media assistance, please contact: Jackie Ellis on +64 27 246 2505 or email jackie@ellisandco.co.nz.

About Promisia Healthcare

Promisia operates four aged care facilities, specialising in high needs and specialised aged care (being rest home, hospital and dementia care). It also offers independent living in retirement villas and apartments. Promisia’s facilities are located in well-established and well serviced towns with strong communities and close to main centres. The company has a diversified growth strategy that includes growing its portfolio, developing existing facilities and extending its revenue mix.

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