Oceania Healthcare Limited (NZX: OCA) Half Year Result and Interim Report

Friday 22nd January 2021

Oceania records increase in First Half Unaudited Underlying EBITDA

Oceania Healthcare, Aged Care and Retirement Village Operator and Developer, announced today an unaudited half year underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $35.4 million for the six months ended 30 November 2020, a 2.0% ($0.7m) increase compared to the prior corresponding period (pcp).

Highlights

· A 2.0% increase ($0.7m) in unaudited underlying EBITDA compared to the prior corresponding period

· Unaudited Reported Net Profit after tax (NPAT) of $24.8m, up $9.9m on the prior corresponding period

· Sales volumes (for both independent living apartments and villas, as well as care suites) 44% ahead of the prior corresponding period

· Successfully navigating the challenges of the COVID-19 pandemic, with no COVID-19 cases recorded to date in any of Oceania Healthcare’s aged care centres or retirement villages

· The completion of 28 apartments and 61 care suites at Green Gables (Nelson) in September 2020

· On track to complete 217 new independent living units (apartments and villas) and care suites prior to 31 March 2021

· Operating cashflow increased 30.9% to $74.6m as a result of strong sales volumes

· Total assets increased to $1.7 billion, up 11.8% ($177.1m) on November 2019 primarily due to significant development capital expenditure during the period

· Completion of a heavily oversubscribed retail bond issue in October 2020, raising $125 million

· Interim dividend of 1.3 cents per share (not imputed) announced. This will have a record date of 10 February 2021 and will be paid on 24 February 2021. The Dividend Reinvestment Plan will apply to this dividend

Oceania Healthcare Chair Liz Coutts advised the Board declared an interim dividend of 1.3 cents per share (unimputed). The record date is 10 February 2021 and payment date 24 February 2021. The Dividend Reinvestment Plan (DRP) will apply to the dividend payable on 24 February at a discount of 2.5% to the volume weighted average price of shares sold on the NZX Main Board over the period of the five trading days starting 9 February 2021.

See the links below for more details:

Source: Oceania Healthcare Limited

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