Oceania Healthcare Limited (NZX: OCA) Oceania Records Strong 10 Month Trading Results

Friday 21st May 2021

Oceania has changed its balance date from 31 May to 31 March. Oceania today announced unaudited Underlying Earnings before interest, tax, depreciation and amortisation (EBITDA) of $56.2m for the 10 month period ended 31 March 2021, an 8% ($4.1m) increase on the ten month period ended 31 March 2020.

Highlights:

• Sales volumes (for both independent living apartments and villas, as well as care suites) 26% ahead of the 10 month period ended 31 March 2020.

• Aged care business continued to perform well throughout the period despite COVID-19 disruptions, with occupancy increasing to 92.4% for the 10 months to 31 March 2021 compared to 91.7% for the 10 months to 31 March 2020.

• The completion of 217 units and care suites during the 10 month period to 31 March 2021.

• Operating cash flow of $96.0m for the 10 month period to 31 March 2021 compared to $99.4m for the 12 months to 31 May 2020, as a result of continued strong sales volumes.

• Total assets increased to $1.9 billion, up 22% ($335.0m) on 31 May 2020, primarily due to significant capital expenditure and reversal of COVID-19 related property valuation assumptions.

• Completion of a $100.0m capital raise, comprising a $80.0m placement and a $20.0m retail offer.

• Acquisition of Waterford and Franklin sites.

• Final dividend of 2.1 cents per share (not imputed) announced. This will have a record date of 8 June 2021 and will be paid on 22 June 2021. The Dividend Reinvestment Plan will apply to this dividend.

Oceania has further invested in clinical training and development this year as part of its commitment to provide career development for its staff. Oceania remains focused on delivering outstanding clinical care to its residents. Clinical leadership and education are key to the delivery of quality care, improving overall skill levels and surveillance abilities.

Oceania Chair Liz Coutts advises the Board declared a final dividend of 2.1 cents per share (unimputed), bringing the total dividend for the 10 month period to 31 March 2021 to 3.4 cents per share (unimputed). The record date for the dividend is 8 June 2021 and the payment date is 22 June 2021. The Dividend Reinvestment Plan will apply to the dividend payable on 22 June 2021 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 on 4 June 2021.

Please see the links below for details

Media Release

Investor Presentation

Distribution Notice

Results Announcement

Source: Oceania Healthcare Limited

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