Ryman Annual Meeting 2020 Media Release and Presentation

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch, New Zealand 8140



Annual Meeting media release – August 13, 2020
Ryman Healthcare continues to expand despite COVID-19 challenges

Ryman Healthcare is continuing to expand to meet demand despite the ongoing impact of
COVID-19 in Victoria and New Zealand.
Chair Dr David Kerr told Ryman’s annual meeting that sales had recovered well in New
Zealand following the end of the COVID-19 lockdowns in May and demand for aged care
remained strong.
The COVID-19 situation remained concerning in Victoria and in New Zealand, and the
impact the New Zealand re-emergence of COVID-19 might have is difficult to predict at this
time.
The most impacted region right now is Victoria, where Ryman has two operational villages
and 750 residents and 550 village, construction and office staff.
“We put our villages into a second lockdown in Victoria in early July and our team has done
a fantastic job to keep everyone safe over there in difficult circumstances over many
weeks,’’ Dr Kerr said.
“The latest lockdown measures announced by the Victorian State Government last week
will restrict construction and sales activity for six weeks, but it is too early to say what the
effect on this year’s build volume will be.
“We have had a very effective autonomous team over there for some time and we’re doing
everything we can to support them.’’
Victoria represents six per cent of Ryman’s total resident population, and the region
remains a focus for future growth.
Construction activity has been reduced at Ryman’s Nellie Melba, Burwood East and
Aberfeldie sites in metropolitan Melbourne. Construction is continuing at its regional sites
at Highton and Ocean Grove under Level 3 lockdown safety measures.
Ryman is planning to have five villages open in Victoria by December 31, although there is
potential for this to be slightly delayed because of COVID-19.

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch, New Zealand 8140

Dr Kerr said trading had been satisfactory in the first quarter. Earnings would be significantly
weighted towards the second half in line with the construction programme and in light of
the impact of COVID-19 in both territories during the first half.
Sales in New Zealand picked up well after the first COVID-19 lockdowns ended in May, and
total resales and new sales for the four months to the end of July were higher than in the
same period the year before.
Occupancy at established care centres was at 97%, with Ryman’s care continuing to be in
strong demand.
“What COVID-19 has done is reinforce the attraction of living in our villages where
residents enjoy security, companionship, and a strong sense of community. They regard our
villages as safe havens where they find it reassuring to know there is the best of care on
hand if they need it,’’ Dr Kerr said.
In New Zealand construction is continuing at seven sites at Devonport, Lynfield, Lincoln Rd,
Hobsonville, Hamilton, Havelock North and Riccarton Park.
Chief Executive Gordon MacLeod said Ryman had $327 million of new sale contracts
already, and this cash would be collected over the next 12 months as units were completed
and residents moved in.
“We are building on 12 sites which are a good mix of high, medium and low density. To put
this activity into context, in 2017 we had six sites on the go.’’
Short-term COVID-19 restrictions have been reintroduced in New Zealand from August
12, with a particular focus on the Auckland region. It is too early to say what the impact of
these restrictions might be, although at this stage
construction is continuing with well-
developed safety protocols in place.


Dr Kerr thanked shareholders for their continued support.
“In the short term our focus is to continue to do everything we can to keep the Ryman
family safe from COVID-19. We are incredibly grateful for the tremendous work of our
team during this time.
“Our long-term aim is to build as many Ryman communities as we can to meet growing
demand. We are as excited as ever about the future of Ryman.’’

New villages currently under way
Brandon Park, Melbourne (Nellie Melba) Havelock North (James Wattie)
Lynfield, Auckland (Murray Halberg) Hobsonville, Auckland
Devonport, Auckland (William Sanders) Highton, Geelong
River Road, Hamilton (Linda Jones) Aberfeldie, Melbourne
Burwood East, Melbourne (John Flynn) Riccarton Park, Christchurch
Lincoln Road, Auckland (Miriam Corban) Ocean Grove, Victoria

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch, New Zealand 8140


New villages in planning and design phase
Kohimarama, Auckland Northwood, Christchurch
Highett, Melbourne Mt Martha, Victoria
Bishopspark/Park Terrace, Christchurch Karori, Wellington
Ringwood East, Melbourne Coburg, Melbourne
Newtown, Wellington Takapuna, Auckland
Mt Eliza, Victoria

About Ryman: Ryman Healthcare was founded in Christchurch in 1984 and owns and
operates 36 retirement villages in New Zealand and Australia. Ryman villages are home to
11,700 residents, and the company employs more than 6,000 staff.
Contacts: For media information or images contact David King, Corporate Affairs
Manager, on 021 499 602 (+64 21 499 602) or email david.king@rymanhealthcare.com
For investor relations information contact Michelle Perkins, Investor Relations Manager, on
027 222 9684 (+64 27 222 9684) or email michelle.perkins@rymanhealthcare.com

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11
Annual
meeting
R Y M A N H E A L T H C A R E
13 August 2020

2
2020 Annual Report

3
Full year highlights
Underlying profit* of $242 million, up 6.6%
Reported (IFRS) profit of $265 million, down
19%
Full year dividend increased to 24.2 cents,
in line with growth in underlying profit
Operating cashflows of $449.8 million, up 12%
Cash receipts of $1.13 billion, up 12%
Total assets of $7.68 billion, up 15%
Land bank of6,595 beds and units
* Underlying profit is a non-GAAP measure and differs from NZ IFRS profit for the period.
Update

4
Dividend growth

5
Cash receipts from
residents

6
18 years of underlying
profit growth

77
7

8
New daily cases of COVID-19 Victoria

99
9

1010

1111
11

1212
12

1313
Paul
Sutton
Victorian
Operations
Manager
Debra
Richardson
Victorian Sales
and Community
Relations
Manager
Marty
Osborn
Victorian
Construction
Manager
David
Laing
Victorian
Development
Manager

1414
14
DRAFT

15
Independent residents’
net promoter score

16
Independent residents’
net promoter score

17
Staff net promoter
score

18
Staff net promoter
score

19
Total assets

20

21
William Sanders
Linda Jones
John Flynn
Miriam Corban
James Wattie
Highton
Aberfeldie
Hobsonville
Ocean Grove
Construction
activity
(March 2019)
Murray Halberg
Riccarton Park
Nellie Melba

22
William Sanders
Linda Jones
John Flynn
Miriam Corban
James Wattie
Highton
Aberfeldie
Hobsonville
Ocean Grove
Construction
activity
(August 2020)
Murray Halberg
Riccarton Park
Nellie Melba
Highett

23
23

2424
Park Terrace
24

2525
25

26
Paula Jeffs
Ryman’s constitution and NZX Listing Rule 2.7.1 require that
any director appointed by the board must retire from office at
the next annual meeting but is eligible to seek election.
Director Paula Jeffsretires in accordance with this requirement
and offers herself for election.
R E S O L U T I O N 2 . 1
26

27
Claire Higgins
Under NZX Listing Rule 2.7.1 a director must not hold office
past the later of three years and the third annual meeting
after their appointment without being re-elected by
shareholders.
Director Claire Higgins retires in accordance with these
requirements and, being eligible, offers herself for re-
election.
R E S O L U T I O N 2 . 2
27

28
Auditor’s remuneration
Deloitte is automatically reappointed as the auditor of Ryman under section 207T of
the Companies Act 1993.
Pursuant to section 207S of the Companies Act 1993, this resolution authorises the
board to fix the auditor’s remuneration.
R E S O L U T I O N 3
28

2929
Annual
meeting
R Y M A N H E A L T H C A R E
13 August 2020

30
Disclaimer
This presentation
This presentation includes information relating to Ryman Healthcare Limited’s full year
result for the period to 31 March 2020. It should be read in conjunction with all other
material which we have released, or may release, to NZX from time to time. That
material is also available on our website at www.rymanhealthcare.com.
Purpose of this presentation
This presentation is for information purposes only. It is not an offer of financial
products, or a proposal or invitation to make any such offer. It is not investment
advice or a recommendation in relation to financial products, and does not take into
account any person’s individual circumstances or objectives. Every investor should
make an independent assessment of Ryman on the basis of expert financial advice.
Forward-looking statements
This presentation contains forward-looking statements and projections. These reflect
our current expectations, based on what we think are reasonable assumptions.
However, any of these forward-looking statements or projections may be materially
different due to a range of factors and risks. Ryman gives no warranty or
representation as to our future financial performance or any future matter.
Non-GAAP information
Some of the financial information in this presentation has not been prepared in
accordance with generally accepted accounting principles (i.e. it is non-GAAP financial
information). This includes, in particular, our ‘underlying profit’ which Ryman has used
for many years as a means of showing our profit absent any unrealised valuation
movements. Ryman has historically used underlying profit as the basis for determining
dividend payments to shareholders. We show our underlying profit together with our
reported profit based on NZ IFRS (a GAAP measure).
Disclaimer
To the maximum extent permitted by law, we will not be liable (whether in tort
including negligence, contract, statute or otherwise) to you or any other person in
relation to this presentation, including any error or omission in it.