Ryman half year report provided

Ryman Healthcare
HALF YEAR REPORT SEPTEMBER 2023

Pictured on the front cover Residents Diana and Hugh at our Charles Upham Village.
This image Townhouses at our new Patrick Hogan Village in Cambridge, November 2023.
2
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

At a glance
Chair and Group CEO report
Key statistics
Our villages
Directory
Interim financial statements
04
06
14
36
40
16
3

699
booked sales of
occupation rights
2 .4%
of total
units available
for resale
$1.71bn
resale bank for
future sales
$13.09bn
total assets
33.6%
debt to
debt-plus-equity
gearing
$146.3m
operating
EBITDA
1
-$158.4m
free cash flow
1
At a glance
-9.5%
7. 8 %up $138.5m
4.6%
4
0.3%
3, 4
-3.9%
4
0.5%
3, 4
$186.7m
reported profit
-3.8%
0.3%
1
For a definition of operating EBITDA and free cash flow refer to the Glossary on page 70 in the Ryman Healthcare half year result
presentation for the period ending 30 September 2023. This can be found on the Ryman website.
2
Refer to page 14 for a definition of underlying profit.
3
Percentage points.
4
Change relative to March 2023.
$139.2m
underlying
profit
2
4
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

48
villages open
4,540
care beds
5
7,600
team members
14
sites under construction
9
sites in the land bank
14,200
residents
40 New Zealand villages
8 Australian villages
9,356
retirement-village units
5
85% of
New Zealand
aged-care centres
100% of Australian
aged-care centres
received a 3-year certification
by the Australian Aged Care
Quality and Safety Commission
6
received 4-year
Ministry of Health certification
6
5
Units and beds are included in the portfolio on a complete or near-complete basis. For our definition of ‘near-complete’,
see appendix 26 in the Ryman Healthcare half year result presentation for the period ending 30 September 2023.
This can be found on the Ryman website.
6
Highest certification period.
5

Chair and
Group CEO report
Group Chief Executive Officer Richard Umbers and Chair Dean Hamilton at our Kevin Hickman Village.
6
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

We continue to
make progress on
resetting the business
and executing the
strategy which was
communicated at
the time of the
equity raise.”
“
7

Welcome to Ryman Healthcare’s half year report
for the six months ended 30 September 2023
Our result for the first half has been delivered during a period of
challenging market conditions including a subdued housing market.
While our financial results are steady on the prior year, we continue
to make progress on resetting the business and executing the
strategy which was communicated at the time of the equity raise.
Reported IFRS profit of $186.7 million, which includes fair value
movements of investment properties, was down 3.8 percent on the
same period last year. Underlying profit of $139.2 million was up 0.3
percent, driven by solid growth in operating EBITDA, offset by lower
new sales at sites under development.
The real estate market has been through a particularly challenging
period and the retirement sector has not been immune from this.
This was relative to a buoyant first half last year and resulted in
booked sales of occupational rights agreements (ORAs) of 699,
down 9.5 percent on the prior corresponding period.
Reflecting an increased focus on cash flow and capital
management, free cash flow improved by $138.5 million from
-$296.9 million in 1H23 to -$158.4 million in 1H24. This was driven by
improved cash flows from existing operations and a reduction in the
net spend on development activity.
Cash receipts from residents were up a pleasing 21.6 percent
to $868.9 million driven by strong settled sales of ORAs off the
back of move-in activity during the half. This was a key driver of
the improvement in free cash flow from existing operations and a
reduction in receivables.
“
Ryman is well
under way with
our strategy
reset. We remain
focused on
improving the
performance
of our existing
operations and
returns from new
developments.”
8
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Strategy reset
Ryman is well under way with our strategy
reset. We remain focused on improving the
performance of our existing operations and
returns from new developments.
In terms of our existing operations, this includes
driving efficiency in operating costs and capital
expenditure, improving the profitability of care
and a continued strong focus on pricing.
With respect to our development activity, we
continue to reprioritise and review our existing
land bank with a focus on developments that will
both recycle capital and deliver returns above our
cost of capital.
This will likely mean lower density villages
and right-sizing our care offering in future
developments.
While underlying profit remains the basis of our
FY24 guidance, this metric has been far too
prominent in the company’s decision making, and
we are increasingly focused on metrics which
align more closely with cash flow generation.
New board leadership and Group CFO
Ryman continues to refresh leadership in both
board and key management roles.
We are delighted that Kate Munnings has joined
the board. Kate brings extensive commercial
healthcare experience from her senior roles at
Virtus and Ramsay as well as construction and
property management experience from prior roles.
With two directors retiring in calendar year 2024,
the board is under way with determining the right
mix of skills and experience that will contribute to
the future of Ryman.
In addition, newly appointed Group Chief
Financial Officer, Rob Woodgate began his
role on 13 November. Rob has a strong track
record as a senior finance leader and brings a
wealth of experience to the role at a pivotal time
for the business.
David Bennett has now transitioned to the role of
Chief Strategy Officer.
9

Capital management and dividend
Net interest-bearing debt at September 2023 was $2.47 billion, up
from $2.30 billion at March 2023. Gearing of 33.6 percent sits within
the company’s medium-term target of 30-35 percent.
The refinancing of our banking facilities in September increased
the average tenor across all debt facilities from 2.6 to 3.6 years and
increased our debt headroom, including cash, to $533.9 million at
September 2023.
No interim dividend has been declared for 1H24.
The board has determined that it is in the best interests of the
company to suspend dividends as the business goes through a
reset; working to improve operating cash flows, completing delayed
capital-intensive main buildings, maintaining prudent financial
headroom and determining a cadence and financial envelope for
future build rates. The current intention is to undertake a review of the
dividend policy at FY26. Any future dividend policy is expected to be
based on cash flow.
The financial focus of the board is to strengthen cash flow
outcomes from existing operations and deliver value-accretive
new developments. We remain positive about the longer-term
demographic trends supporting the sector and believe Ryman is in a
strong position to capitalise on the opportunity that this presents.
“
Ryman is in a
strong position
to capitalise
on the positive
longer-term
demographic
trends supporting
our sector.”
10
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Development update
A significant level of development is under way
with 14 sites in the construction phase, including
Mulgrave which recently commenced. This is an
exciting new village in an area of Melbourne that
we know well, being not too far from our successful
Weary Dunlop and Nellie Melba villages.
We opened three new villages, welcoming our
first residents into Northwood (Christchurch),
and Patrick Hogan (Cambridge) in New Zealand
and Bert Newton (Highett) in Australia.
As part of the reprioritisation, Ringwood East,
Takapuna and future stages at Murray Halberg
have been put on hold. In addition, Kohimarama
and Newtown are being held for sale as they
no longer meet our investment criteria. We will
continue to review our land bank to ensure we have
the right scale and attributes to meet our growth
and return objectives.
A portfolio increase of 650-750 units and beds is
anticipated for FY24, down on previous guidance.
The medium-term outlook for the build programme
will be reviewed at the full-year result.
Village operations and care
Care is at the heart of Ryman’s difference and
remains central to our success.
Occupancy within our mature care centres has
improved to 96 percent, up 2 percentage points
on the same period last year, and back to
pre-COVID levels.
Of all the large providers in New Zealand, Ryman
has the highest number of care centres with 4-year
Ministry of Health certification at 85 percent.
We also recently received a 3-year certification for
all of our care centres audited by the Australian
Aged Care Quality and Safety Commission.
Ryman continues to innovate and improve
our care services, with significant growth across
our home care offering in Australia. Residents
receiving funded home care packages increased
by 45 percent to 192 in the period.
Our innovative Resident App was recognised for
its outstanding utilisation of technology at the
Australian Good Design Awards in September,
which celebrate cutting-edge design projects
from around the world that foster positive change
in society.
The App won the Digital Design Apps and Software
Green Tick Award in conjunction with partner
Journey Digital.
11

Regulatory environment
Over the past six months, the retirement village sector has been a
focus of different regulatory bodies.
In New Zealand, Ryman has provided a submission to the review
of the Ministry of Housing and Urban Development’s ‘Retirement
Villages Act 2003: Options for change’ discussion paper, which
closed on 20 November.
As a leader in the sector, we already meet many of the changes
proposed within the discussion paper as standard business practice.
We believe that any changes to the Act should encourage growth,
innovation and consumer choice to ensure that it is suitable for the
future needs of the sector.
As a part of our submission, we also raised future funding for
aged-care services as a key issue in ensuring that the country
maintains a sufficient standard and capacity of care for all
New Zealanders as they age.
We believe that a new care funding model is vital to achieving the
broader aims of future-proofing the retirement regime and ensuring
quality aged care in New Zealand. The existing model is increasingly
problematic and acts as a constraint on providers offering new and
innovative care, and at the same time restricting New Zealander’s
choices as to how they want to live in their retirement.
We’re encouraged by aspects within the New Zealand coalition
agreement that impact our sector and we look forward to working
with the new Government on these and being part of the solution.
In Australia, Ryman continues to engage with the Government on
key issues. The Federal Aged Care Act is expected to be updated in
2024 with public and industry consultation under way. As part of this,
we provided a submission to the Aged Care Task Force, which was
established by the Minister for Aged Care in June to review the fees
and funding arrangements for aged care. The Task Force is expected
to provide its advice to the Australian Government soon.
The Home Care Act is also currently under review and will be updated
to support the Federal Government’s Support at Home Framework,
which will be implemented from mid-2025.
“
We’re encouraged
by aspects within
the New Zealand
coalition
agreement
that impact our
sector and we
look forward to
working with the
new Government
on these and
being part of
the solution.”
12
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

“
We would like
to take this
opportunity to
thank all the
Ryman team,
for their hard
work and their
commitment to
the task at hand.”
Richard Umbers
Group Chief Executive Officer,
Ryman Healthcare
Dean Hamilton
Chair,
Ryman Healthcare
Looking ahead
FY24 underlying profit is expected to be in the range of
$300-$330 million (previously $310-$330 million). This wider
range reflects the ongoing levels of market uncertainty and the
normal dependency on sales in the new year.
We believe we are making good progress on resetting the business
and we’re optimistic about the future. Ryman is in a strong position
to capitalise on the positive longer-term demographic trends
supporting our sector.
The strength of the Ryman team gives us every confidence that
we are well placed to execute on our plans and we would like to
take this opportunity to thank all the Ryman team, for their hard
work and their commitment to the task at hand.
We would also like to thank all of our shareholders for your
continued support.
13

Key statistics
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

30 Sept 2023
6 months
30 Sept 2022
6 months
31 March 2023
12 months
Financial
Underlying profit (non-GAAP)
5
$m139.2138.8301.9
Reported net profit after tax
$m186.7194.02 57. 8
Free cash flow (non-GAAP)
1
$m(158.4)(296.9)(389.0)
Net assets
$m4,864.03,628.14,663.9
Total assets
$m13,085.212,033.312,510.6
Gearing
2
%33.645.333.1
Dividend per share
cents0.08.88.8
Villages
New sales of occupation rights
no.144216462
Resales of occupation rights
no.5555561,057
Total sales of occupation rights
no.6997721,519
Land bank (to be developed)
3,4
no.5,2946,7105,868
Portfolio:
Aged-care beds
no.4,5404,2994,456
Retirement-village units
no.9,3568,6679,142
Total units and beds
no.13,89612,96613,598
1
Combination of net operating cash flows and net investing cash flows. Free cash flow is a non-GAAP (Generally Accepted
Accounting Principles) measure and does not have a standardised meaning prescribed by GAAP, and so may not be comparable
to similar financial information presented by other entities.
2
Gearing calculated as net interest-bearing debt to net interest-bearing debt plus total equity.
3
Includes retirement-village units and aged-care beds.
4
Of the 5,294 units and beds in the land bank, 1,449 are subject to resource and building consent.
5
Underlying profit is a non-GAAP (Generally Accepted Accounting Principles) measure and differs from NZ IFRS profit for the
period.Underlying profit does not have a standardised meaning prescribed by GAAP and so may not be comparable to similar
financial information presented by other entities.
The Group uses underlying profit, with other measures, to measure performance. Underlying profit is a measure that the Group
uses consistently across reporting periods.
Underlying profit includes realised movement on investment property for units in which a right-to-occupy has been sold during the
period and for which a legally binding contract is in place at the reporting date. The occupancy advance for these units may have
been received or be included within the trade receivables balance at reporting date.
Underlying profit excludes deferred taxation, taxation expense, unrealised movement on investment properties, impairment
losses on non-trading assets, costs relating to the close out of employee share schemes and the cost of exiting USPP borrowings
and swap amendments.
14
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Key statistics
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

30 Sept 2023
6 months
30 Sept 2022
6 months
31 March 2023
12 months
Underlying profit (non-GAAP)
5
$m139.2138.8301.9
Unrealised fair-value movement on retirement-village units
$m27.389.373.7
Deferred tax movement
$m43.3(23.3)51.6
Impairment loss
$m(15.8)(10.8)(11.0)
Close out of employee share schemes
$m(2.0)--
Costs relating to USPP prepayment and swap amendments
$m(5.3)-(158.3)
Reported net profit after tax
$m186.7194.02 57. 8
15

Consolidated income statement
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Notes
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Care and village fees249,014210,1874 3 7,3 4 1
Deferred management fees (DMF)67,6 575 9,74 6122 ,769
Interest received1 , 2 743642 ,140
Other income5,0173,9428,727
Total revenue322,9622 74 , 2 3 9570,977
Fair-value movement of investment properties 41 7 7,0 4 1261,346431,503
Total income500,003535,5851,002,480
Operating expenses(292,853)(265,148)(533,279)
Depreciation and amortisation expenses(26,189)(22,996)(46,597)
Finance costs(2 1,702)(19,355)(205,374)
Impairment loss2(15,824)(10,784)(11,034)
Total expenses(356,568)(318,283)(796,284)
Profit before income tax143,435217,302206,196
Income tax credit/(expense)343,250(23,316)51,640
Profit for the period186,685193,986257,836
Earnings per share (cents per share)
Basic and diluted 527.138.849.9
All profit and total comprehensive income is attributable to parent company shareholders and is derived from continuing operations.
The accompanying notes form part of these consolidated interim financial statements.
16
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Consolidated statement of comprehensive income
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Profit for the period186,685193,986257,836
Items that will not be later reclassified to profit or loss
Revaluation of property, plant and equipment (unrealised)--156,773
--156,773
Items that may be later reclassified to profit or loss
Fair-value movement and reclassification of cash flow
hedge reserve17,01559,81821,470
Deferred tax movement recognised in cash flow hedge reserve(4,859)(16,849)(6,006)
Movement in cost of hedging reserve-(234)(1,554)
Reclassification adjustment to income statement--(3,518)
Deferred tax movement in cost of hedging reserve
-661,420
(Loss)/Gain on hedge of foreign-owned subsidiary net assets(257)(4, 213)670
Gain/(Loss) on translation of foreign operations1,83925,530(8,306)
13,73864,1184,176
Other comprehensive income13 ,7 3 864,118160,949
Total comprehensive income200,423258,104418,785
All profit and total comprehensive income is attributable to parent company shareholders and is derived from continuing operations.
The accompanying notes form part of these consolidated interim financial statements.
17

The accompanying notes form part of these consolidated interim financial statements.
Consolidated statement of changes in equity
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Issued
capital
Asset
revaluation
reserve
Cash flow
hedge
reserve
Cost of
hedging
reserve
Foreign-
currency
translation
reserve
Treasury
stock
Retained
earnings
Total
equity
$000$000$000$000$000$000$000$000
Six months ended
30 Sept 2023
unaudited
Opening balance
953,239610,34130,955-(7,136)(34,729)3,111,2274,663,897
Profit for the period
------186,685186,685
Other comprehensive
income for the period
--12,156-1,582--13,738
Total comprehensive
income for the period
--12,156-1,582-186,685200,423
Issue of ordinary
shares – equity raise
(subsequent costs)
(352)------(352)
Treasury stock
movement
-----(1)-(1)
Dividends paid to
shareholders
--------
Balance at
30 September 2023952,887610,34143,111-(5,554)(34,730)3,297,9124,863,967
Year ended
31 March 2023 audited
Opening balance
33,290453,56815,4913,652500(38,174)2,966,1933,434,520
Profit for the period
------257,836257,836
Other comprehensive
income for the period
-156,77315,464(3,652)(7,636)--160,949
Total comprehensive
income for the period
-156,77315,464(3,652)(7,636)-257,836418,785
Issue of ordinary
shares – dividend
reinvestment plan
43,911------43,911
Issue of ordinary shares
– equity raise
876,038------876,038
Treasury stock
movement
-----3,445-3,445
Loss on treasury shares
------(802)(802)
Dividends paid to
shareholders
------(112,000)(112,000)
Balance at
31 March 2023
953,239610,34130,955-(7,136)(34,729)3,111,2274,663,897
18
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

The accompanying notes form part of these consolidated interim financial statements.
Consolidated statement of changes in equity (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Issued
capital
Asset
revaluation
reserve
Cash flow
hedge
reserve
Cost of
hedging
reserve
Foreign-
currency
translation
reserve
Treasury
stock
Retained
earnings
Total
equity
$000$000$000$000$000$000$000$000
Six months ended
30 Sept 2022
unaudited
Opening balance
33,290453,56815,4913,652500(38,174)2,966,1933,434,520
Profit for the period
------193,986193,986
Other comprehensive
income for the period
--42,969(168)21,317--64,118
Total comprehensive
income for the period
--42,969(168)21,317-193,986258,104
Treasury stock
movement
-----3,445-3,445
Dividends paid to
shareholders
------(68,000)(68,000)
Balance at
30 September 2022
33,290453,56858,4603,48421,817(34,729)3,092,1793,628,069
19

The accompanying notes form part of these consolidated interim financial statements.
Consolidated statement of financial position
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Notes
30 Sept 2023
unaudited
30 Sept 2022
unaudited
31 March 2023
audited
$000$000$000
Assets
Cash and cash equivalents33,2952 5, 87427, 87 9
Trade and other receivables667 7,6 9 8791,864719,121
Inventory8,35023,12314,618
Advances to employees12,94815,15214,217
Derivative financial instruments948,156105,3713 6 ,474
Assets held for sale270,719-31,379
Property, plant and equipment2,237,7232,229,6642,205,428
Investment properties49,833,0458,737,0129,322,902
Intangible assets85,71060,36384,832
Deferred tax asset 7 7,5 2 844,9165 3 ,7 74
Total assets13,085,17212,033,33912,510,624
Equity
Issued capital5952,88733,290953,239
Reserves613,168502,600599,431
Retained earnings3,297,9123,092,1793,111,227
Total equity4,863,9673,628,0694,663,897
Liabilities
Trade and other payables7146,054248,473205,784
Employee entitlements55,21443,59149,7 73
Revenue in advance118,65788,68999,271
Refundable accommodation deposits364,183251,998300,314
Derivative financial instruments97,1508,5245,988
Interest-bearing loans and borrowings82,499,6713,025,9512,330,950
Occupancy advances (non-interest bearing)105,015,9064,631,5504,826,182
Lease liabilities14,37016,66213,787
Deferred tax liability-89,83214,678
Total liabilities 8,221,2058,405,2707,846,727
Total equity and liabilities13,085,17212,033,33912,510,624
Net tangible assets (cents per share)
– 30 Sept 2022 restated5683.6704.6658.1
20
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

The accompanying notes form part of these consolidated interim financial statements.
Consolidated statement of cash flows
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Operating activities
Receipts from residents868,932714,7281,602,518
Interest received1,3023802,198
Payments to suppliers and employees(289,783)(252,421)(469,648)
Payments to residents(220,970)(201,629)(437,375)
Interest paid(21,564)(17,377)(46,864)
Net operating cash flows 337,917243,681650,829
Investing activities
Purchase of property, plant and equipment(131,178)(191,913)(304,100)
Purchase of intangible assets(8,479)(12,287)(20,106)
Purchase of investment properties(303,177)(295,024)(608,784)
Capitalised interest paid(53,518)(41,581)(108,069)
Advances to employees692631,199
Net investing cash flows(496,283)(540,542)(1,039,860)
Financing activities
Proceeds from equity raise (net)(352)-876,038
Drawdown of bank loans (net)166,00070,4431 4 6 ,574
Proceeds from issue of US Private Placement notes-290,149290,149
Prepayment of US Private Placement notes--(748,924)
Prepayment of cross-currency interest rate swaps--(106,594)
Dividends paid and dividend reinvestment plan costs-(68,000)(68,089)
Sale of treasury stock (net)-3,4452 ,643
Repayment of lease liabilities(1,866)(1,611)(3,196)
Net financing cash flows163,782294,426388,601
Net increase/(decrease) in cash and cash equivalents5,416(2,435)(4 30)
Cash and cash equivalents at the beginning of the period27, 87 928,30928,309
Cash and cash equivalents at the end of the period 33,29525,8742 7, 8 7 9
21

The accompanying notes form part of these consolidated interim financial statements.
Consolidated statement of cash flows (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Net operating cash flows includes the following:
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Net occupancy advance receipts from retirement-village residents562,796456,3891,058,984
Net receipts from refundable accommodation deposits54,49545,040100,619
Deferred management fees collected34,11228,96662,397
Reconciliation of net profit after tax with net cash flow from operating activities
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Net profit after tax186,685193,986257,836
Adjusted for:
Movements in statement of financial position items
Occupancy advances258,042376,455620,700
Deferred management fees(66,681)(40,979)(91,850)
Refundable accommodation deposits54,49545,040100,619
Revenue in advance19,3877,4 3 818,019
Trade and other payables3,5491,51241,114
Trade and other receivables50,162(120,725)(46,554)
Inventory6,2673,57911,632
Employee entitlements5,4413,7 799,961
Non-cash items:
Depreciation and amortisation24,32321,38543,225
Depreciation of right-of-use assets1,8661,6113,372
Close out of employee share scheme1,200--
Impairment15,82410,78411,034
Deferred tax(43,250)23,316(51,640)
Unrealised foreign-exchange gain(2,352)(22,154)(3,459)
Adjusted for:
Fair-value movement of investment properties(177,041)(261,346)(431,503)
Costs relating to USPP prepayment and swaps--158,323
Net operating cash flows337,917243,681650,829
22
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
1. GENERAL INFORMATION
The consolidated interim financial statements presented are those of Ryman Healthcare Limited (the Company)
and its subsidiaries (the Group). These consolidated interim financial statements were approved by the Board of
Directors on 28 November 2023.
Ryman Healthcare Limited is a profit-oriented entity incorporated in New Zealand. The Group develops, owns and
operates integrated retirement villages, resthomes and hospitals for the elderly within New Zealand and Australia.
Statement of compliance
Ryman Healthcare Limited is a Financial Markets Conduct reporting entity under the Financial Reporting Act 2013
and the Financial Markets Conduct Act 2013. Its consolidated interim financial statements comply with these Acts.
The unaudited condensed consolidated interim financial statements have been prepared in line with Generally
Accepted Accounting Principles in New Zealand (NZ GAAP). The statements comply with New Zealand
equivalents to International Accounting Standard 34 (NZ IAS 34) Interim Financial Reporting and International
Accounting Standard 34 (IAS 34) Interim Financial Reporting.
Basis of preparation
The consolidated interim financial statements for the six months ended 30 September 2023 and the comparative
six months ended 30 September 2022 are unaudited.
These consolidated interim financial statements have been prepared under the same accounting policies and
methods as the Group’s Annual Report at 31 March 2023. These consolidated interim financial statements should
be read in conjunction with the financial statements and related notes included in the Group’s Annual Report for
the year ended 31 March 2023.
Functional and presentation currency
The information is presented in thousands of New Zealand dollars (NZD). Both the functional and the presentation
currency of Ryman Healthcare Limited and its New Zealand subsidiaries are NZD.
The functional currency for its Australian subsidiaries is Australian dollars (AUD).
All reference to USD refers to US dollars.
Adopting new and amended standards and interpretations
In the current period, the Group adopted all mandatory new and amended standards and interpretations.
None had a material impact on these interim financial statements.
Standards and interpretations on issue but not yet adopted
The Group is not aware of any New Zealand equivalents to International Financial Reporting Standards (NZ IFRS)
or Interpretations that have recently been issued or amended that have not yet been adopted by the Group that
would materially impact the Group for the current period ending 30 September 2023.
23

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
2. ASSETS HELD FOR SALE AND IMPAIRMENT LOSS
Following a review of the Group’s land portfolio, the land at Mt Martha (Victoria, Australia), Newtown (Wellington,
New Zealand) and Kohimarama (Auckland, New Zealand) are being held for sale. These assets are measured at
the lower of their carrying amount and fair value less costs to sell.
The sale of the Mt Martha land is unconditional, and settlement will occur in late 2023. The Newtown land is
being actively marketed for sale and a sale is expected to take place within 12 months. An impairment loss was
recognised in respect of these properties in previous reporting periods.
An impairment loss of $15.8 million has been recognised in the current period for Kohimarama and marketing
of the site is due to commence. A sale is expected within 12 months.
3. INCOME TAX
The income tax credit recognised during the period is primarily attributable to tax losses generated during the
period. At 30 September 2023, total Group tax losses available in New Zealand and Australia are estimated at
$1,073.5 million (30 September 2022: $681.1 million and 31 March 2023: $974.3 million) and AU$289.9 million
(30 September 2022: AU$191.3 million and 31 March 2023: AU$235.0 million), respectively.
Recognition of the deferred tax asset is based on expected taxable earnings in future periods. One of the key
drivers for this will be the uplift in the taxable deferred management fees as new occupation rights are entered
into at higher prices within the next 15 years.
In the comparative period to 30 September 2022, the income tax expense relates primarily to an increase in the
deferred tax liability recognised in respect of investment properties during that period, offset by a deferred tax
credit on tax losses generated during that period.
24
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
4. INVESTMENT PROPERTIES
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
At fair value
Balance at beginning of financial period9,322,9028,027,2678,027,267
Additions (including transfers from property, plant and equipment)327,673386,645873,952
Realised fair-value movement:
• new retirement-village units35,53245,389122,941
• existing retirement-village units114,204126,677234,901
149,736172,066357,842
Unrealised fair-value movement27,30589,28073,661
Fair-value movement1 7 7,0 4 1261,346431,503
Net foreign-currency exchange differences5,42961,754(9,820)
Net movement for period510,14 370 9,74 51,295,635
Balance at end of financial period9,833,0458,737,0129,322,902
The realised fair-value movement arises from the sale and resale of rights to occupy to residents.
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
No. of unitsNo. of unitsNo. of units
Units included in the valuation
Able to be occupied at reporting date and fair value
is judged as being able to be reliably measured
8,7808,2228,499
Under development at reporting date and fair value
is judged as being able to be reliably measured26204167
Total units included in the valuation8,8068,4268,666
25

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
4. INVESTMENT PROPERTIES (CONTINUED)
Independent valuers’ key assumptions
The valuers used a range of significant assumptions as follows:
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
%%%
Growth rate (nominal)0.50–6.300–4.33 0– 4.70
Discount rate12.00–16.5011.75–16.00 11.75–16.50
The land and building valuation within property, plant and equipment contains an allowance for the value provided
by a care facility to the Group’s independent-living and serviced-apartment residents. The value of this allowance
is determined based on a portion of the deferred management fees paid by the Group’s independent-living
and serviced-apartment residents. This portion of deferred management fees is excluded from the investment
property value. This approach has been consistently applied between periods.
Sensitivity
A change in the independent valuers’ assumptions would impact the fair-value measurement as follows:
0.5% decrease0.5% increase
$000$000
Growth rate (nominal)(219,426)249,189
Discount rate146,477(132,878)
Other inputs used in the fair-value measurement of the Group’s investment property portfolio include the average
age of residents and the occupancy periods. A significant increase in the average age of entry of residents or a
decrease in the occupancy periods would result in a significantly higher fair-value measurement. Conversely, a
significant decrease in the average age of entry of residents or increase in the occupancy periods would result
in a significantly lower fair-value measurement.
26
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
4. INVESTMENT PROPERTIES (CONTINUED)
Work in progress
Investment property includes investment property work in progress of $928.6 million (six months ended
30 September 2022: $702.4 million and year ended 31 March 2023: $786.9 million), which has been valued
at cost. The Directors have determined that for work in progress, cost represents fair value. No independent
valuation of investment property work in progress is obtained.
Operating expenses
Direct operating expenses arising from investment property that generated income from deferred management
fees during the period amounted to $29.7 million (30 September 2022: $26.5 million and year ended 31 March 2023:
$53.2 million). All investment property generated income for the Group from deferred management fees, except for
investment property work in progress.
Security
Residents make interest-free advances (occupancy advances) to the retirement villages in exchange for the right
to occupy retirement-village units. Under the terms of the New Zealand occupancy agreement, the occupancy
advance is secured by a registered first mortgage granted to the Statutory Supervisor. For New Zealand
occupancy advances relating to previous occupancy agreements that remain outstanding, the resident received
a unit title for life and a first mortgage over the residual interest for security purposes. Residents in Victoria,
Australia have the benefit of a charge over the title for the land under the Retirement Villages Act 1986.
27

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
5. SHARE CAPITAL
Issued and paid-up capital consists of 687,641,738 fully paid ordinary shares (30 September 2022: 500,000,000
and 31 March 2023: 687,641,738) less treasury stock of 2,494,282 shares (30 September 2022: 2,494,282 and
31 March 2023: 2,494,282). All shares rank equally in all respects.
Additional costs related to the prior year equity raise were paid in the period. As these costs are directly
attributable to the issuance of shares, they have been recognised in equity.
Shares purchased on market under the leadership share scheme are treated as treasury stock until they
are vested to the employees.
Basic and diluted earnings per share (EPS)
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
Profit for the year ($000)186,685193,986257,836
Weighted average number of shares (in ’000)687,642500,000516,323
Basic and diluted EPS (cents per share)2 7.138.849.9
Net tangible asset (NTA) per share
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
(restated
1
)
Year ended
31 March 2023
audited
NTA ($000)4,700,7293,522,7904,525,291
Ordinary shares at reporting date (in ’000)687,642500,000687,642
NTA per share (cents per share)683.6704.6658.1
NTA is calculated as total assets less intangible assets and deferred tax assets, and less total liabilities.
1
The NTA figures for 30 September 2022 have been restated to exclude deferred tax assets.
28
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
6. TRADE AND OTHER RECEIVABLES
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
unaudited
$000$000$000
New sales receivables249,860389,904322,016
Resales receivables3 57, 2 87350,314351,180
Care and village fees receivables18,59415,95216,998
Refundable accommodation deposit receivables16,4666,3017,7 2 8
Prepayments and other receivables35,49129,39321,199
Total trade and other receivables6 7 7,6 9 8791,864719,121
The receivable for an occupancy advance is recognised when a legally binding contract with the resident is in
place and the unit is either complete or is considered to have met the threshold for inclusion in the investment
property valuation (see note 4). At the same time as recognising the occupancy advance receivable the Group
recognises the corresponding occupancy advance liability. Occupancy advances are cash settled by residents
on occupation of a retirement-village unit.
Care and village fees are received from residents (payable 4-weekly in advance) and various government
agencies. Government-agency payment terms vary but the fees are typically paid fortnightly in arrears for care
services provided to residents.
Debtors are non-interest bearing, although the Group has the right to charge interest on overdue settlements
of occupancy advances or overdue care and village fees.
7. TRADE AND OTHER PAYABLES
Trade payables are typically paid within 30 days of the invoice date or on the 20th of the month following the
invoice date.
Other payables at 30 September 2023 include $21.3 million for the purchase of land (30 September 2022:
$127.8 million and 31 March 2023: $71.8 million).
29

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
8. INTEREST-BEARING LOANS AND BORROWINGS
At reporting date, interest-bearing loans and borrowings include secured bank loans, an institutional term loan
and unsubordinated fixed-rate retail bonds. The Group prepaid all outstanding United States Private Placement
(USPP) notes in March 2023.
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Bank loans2,091,4871,878,8801,922 ,769
Institutional term loan 268,183284,706267,265
Retail bonds – RYM010150,000150,000150,000
USPP notes – using contracted fixed USD foreign exchange rate-708,644-
2,509,6703,022,2302,340,034
Foreign exchange movement of USD USPP notes-162,062-
Total loans and borrowings at face value2,509,6703,184,2922,340,034
Issue costs for the institutional term loan capitalised(657)(849)(726)
Issue costs for the retail bonds capitalised(1,838)(2,380)(2,109)
Issue costs for the USPP capitalised-(3,298)-
Total loans and borrowings at amortised cost2,507,1753,177,7652,337,199
Revaluation of institutional term loan debt in fair-value
hedge relationship
(7,504)(8,966)(6,249)
Revaluation of USPP debt in fair-value hedge relationship-(142,848)-
Total loans and borrowings
2,499,6713,025,9512,330,950
30
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
8. INTEREST-BEARING LOANS AND BORROWINGS (CONTINUED)
Security
The bank loans, institutional term loan and retail bonds are secured by a general security agreement over
the parent and subsidiary companies and supported by first mortgages over the freehold land and buildings
(excluding retirement-village unit titles provided as security to residents – note 4).
The subsidiary companies have all provided guarantees for the Group’s secured loans as parties to the general
security agreement.
Fair value
Below is a comparison of the carrying amounts and fair values of the interest-bearing loans and borrowings.
The carrying amounts of bank loans are the same as their fair values in all material aspects due to their interest
rate profiles.
Six months ended 30 Sept 2023
unaudited
Six months ended 30 Sept 2022
unaudited
Year ended 31 March 2023
audited
Carrying amount Fair valueCarrying amount Fair valueCarrying amountFair value
$000$000$000$000$000$000
Institutional
term loan 260,022260,330274,891275,052260,290264,735
Retail bonds
148,162129,870
147,620131,565147,891
131,445
USPP notes--724,560817,841--
The fair value of the fixed-rate portion of the institutional term loan has been determined at reporting date on
a discounted cash flow basis and applying discount factors to the future AUD interest payment and principal
payment cash flows. The fair value of the floating rate portion is assumed to be the same as its carrying amount.
The fair value of the institutional term loan is categorised as Level 2 under the fair value hierarchy in accordance
with NZ IFRS 13 – Fair Value Measurement.
The fair value of the retail bonds is based on the price the bonds are traded at on the NZX market at the reporting
date. The fair value of the retail bond is categorised as Level 1 under the fair value hierarchy in accordance with
NZ IFRS 13 – Fair Value Measurement.
The fair value of the USPP notes as at 30 September 2022 was determined on a discounted cash flow basis
and applying discount factors to the future USD interest payment and principal payment cash flows. The
fair value of the USPP notes was categorised as Level 2 under the fair-value hierarchy in accordance with
NZ IFRS 13 – Fair Value Measurement.
31

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
9. DERIVATIVE FINANCIAL INSTRUMENTS
At reporting date, the Group’s derivative financial instruments consist of interest rate swaps, caps, floors and
collars. The Group closed out its cross-currency interest rate swaps (CCIRS) in March 2023.
Fair value
These derivatives are initially recognised at fair value on the dates the derivative contract are entered into and
remeasured to their fair values at each reporting date. The fair values of these derivatives are categorised as
Level 2 under the fair value hierarchy in NZ IFRS 13 – Fair Value Measurement. The fair values of these derivative
instruments are derived using inputs supplied by third parties that are observable, either directly (prices) or
indirectly (derived from prices). The fair value of interest rate swaps is determined by discounting the future cash
flows using the yield curves at the end of the reporting period and the credit risk inherent in the contract.
Modified interest rate swaps
In November 2022, the Group modified four interest rate swaps that had been designated in a cash flow hedge
relationship to maximise its interest rate risk coverage and minimise its near-term interest costs. The modification
resulted in a higher notional principal amount covered and a reduction in the remaining maturities of those swaps.
The modification resulted in the original hedge relationship being discontinued. Immediately prior to
discontinuation, there were gains of NZ$16.6 million and AU$5.8 million (excluding tax effects) in the cash flow
hedge reserve for these swaps. As the hedged cash flows are still expected to occur, these gains remain in the
cash flow hedge reserve and will be reclassified to profit or loss over the original hedge period. The amounts
reclassified to profit or loss during the period are NZ$1.4 million and AU$0.7 million (totalling NZ$2.2 million).
At 30 September 2023, the unamortised balance in the cash flow hedge reserve for the amended swaps is
NZ$14.0 million and AU$4.5 million (excluding tax effects).
As the modified interest rate swaps do not qualify for hedge accounting, the fair value loss of NZ$7.5 million
on these modified swaps for the period is recognised directly in profit or loss. The swaps will mature before
31 March 2024 and it is expected that a further NZ$7.3 million will be expensed.
32
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
10. OCCUPANCY ADVANCES (NON-INTEREST BEARING)
Six months ended
30 Sept 2023
unaudited
Six months ended
30 Sept 2022
unaudited
Year ended
31 March 2023
audited
$000$000$000
Gross occupancy advances (see below)5,755,7185,254,1855,498,020
Less deferred management fees and resident loans(739,812)(622,635)(671,838)
Closing balance5,015,9064,631,5504,826,182
Movement in gross occupancy advances
Opening balance5,498,0204,864,7134,864,713
Plus net increases in occupancy advances:
• new retirement-village units135,265187,951418,322
• existing retirement-village units114,204126,677234,901
Net foreign-currency exchange differences3,36441,128(6,540)
Increase/(decrease) in occupancy advance balances4,86533,716(13,376)
Closing balance5,755,7185,254,1855,498,020
Gross occupancy advances are non-interest bearing and occupancy advances are not discounted. The fair
value of net occupancy advances is $3,070.2 million (30 September 2022: $2,775.5 million and 31 March 2023:
$2,931.0 million) using the relevant discount rate for each village.
The change in occupancy advance balances shows the net movement in occupancy advances that has
resulted from:
• units that have been resold but the previous residents have yet to be repaid
• units that have been repaid but remain unsold at balance date.
11. SEGMENT INFORMATION
Products and services from which reportable segments derive their revenue
The Ryman Group operates in one industry, being the provision of integrated retirement villages for older people
in New Zealand and Australia. The service-provision process for each of the villages is similar, and the classes of
customer, methods of distribution and regulatory environment are consistent across all the villages.
Geographical information
In presenting information based on geographical areas, net profit, underlying profit and revenue are based on the
geographical locations of operations, while assets are based on the geographical locations of the assets.
33

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
11. SEGMENT INFORMATION (CONTINUED)
New ZealandAustraliaGroup
$000$000$000
Six months ended 30 Sept 2023 unaudited
Revenue270,41752,545322,962
Underlying profit (non-GAAP)126,96112,266139,227
Unrealised fair-value movement (3,186)30,49127,305
Deferred tax credit
28,92714,32343,250
Impairment loss(15,824)-(15,824)
Costs relating to swap amendments(4, 227)(1,046)(5,273)
Close out of employee share schemes
1
(2,000)-(2,000)
Profit for the period130,65156,034186,685
Non-current assets9,694,9232,587,23912,282,162
Year ended 31 March 2023 audited
Revenue494,60676,371570,977
Underlying profit (non-GAAP)232,22269,670301,892
Unrealised fair-value movement
20,23353,42873,661
Deferred tax credit
31,26120,37951,640
Impairment loss
(250)(10,784)(11,034)
Costs relating to USPP prepayment and swap amendments(156,090)(2,233)(158,323)
Profit for the period1 27,3 76130,460257,836
Non-current assets9,332,7312,370,67911,703,410
Six months ended 30 Sept 2022 unaudited
Revenue240,89433,3452 74 , 2 3 9
Underlying profit (non-GAAP)111,68327,1 2 3138,806
Unrealised fair-value movement 49,59439,68689,280
Deferred tax (expense)/credit(32,609)9,293(23,316)
Impairment loss-(10,784)(10,784)
Profit for the period128,66865,318193,986
Non-current assets8,887,1532 , 290,17311,177,326
Underlying profit is a non-GAAP (Generally Accepted Accounting Principles) measure and differs from NZ IFRS
profit for the period. Underlying profit does not have a standardised meaning prescribed by GAAP and so may not
be comparable to similar financial information presented by other entities.
1
Relates to all employee share scheme.
34
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

Notes to the consolidated interim financial statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
11. SEGMENT INFORMATION (CONTINUED)
The Group uses underlying profit, with other measures, to measure performance. Underlying profit is a measure
that the Group uses consistently across reporting periods.
Underlying profit includes realised movement on investment property for units in which a right-to-occupy
has been sold during the period and for which a legally binding contract is in place at the reporting date. The
occupancy advance for these units may have been received or been included within the trade receivables balance
at reporting date.
Underlying profit excludes deferred taxation, taxation expense, unrealised movement on investment properties,
impairment losses on non-trading assets, costs relating to the close out of employee share schemes and the cost
of exiting USPP borrowings and swap amendments.
12. COMMITMENTS
Capital expenditure commitments
The Group had commitments relating to construction contracts amounting to $222.6 million at 30 September
2023 (30 September 2022: $314.7 million and 31 March 2023: $385.7 million).
The Group has an ongoing commitment to maintain the land and buildings of the integrated retirement villages,
resthomes and hospitals.
13. CONTINGENT LIABILITIES
The Group has identified that past and present New Zealand employees may have received incorrect payments
dating back to 2010 due to the complexity of the Holidays Act 2003 and the nature of our dynamic workforce.
The issues relate to entitlements under the Holidays Act, and how a range of allowances and entitlements have
been interpreted and calculated. External consultants are working with the Group to quantify the value and
employees affected, which could be as many as 26,000 employees. A sufficiently reliable estimate cannot be
made at reporting date, however it is not expected to exceed $25.0 million. A provision of $6.0 million has been
recorded within employee entitlements and remains unchanged from 31 March 2023. It is expected that work will
be sufficiently progressed at 31 March 2024 to quantify the value and recognise the full provision.
14. SUBSEQUENT EVENTS
The previously announced review of the Leadership Share Scheme has been completed.
On 3 November 2023 an offer was made to certain participating employees in respect of the Leadership Share
Scheme. The offer included one-off payments as well as confirmation that no further invitations to participate in
the Leadership Share Scheme would be made to those participants. The offer closed on 23 November 2023.
The financial effect of the offer is being quantified and will be recorded in the 31 March 2024 financial statements.
It is estimated that this could range between $6.0 million to $10.0 million.
Existing employee advances in relation to the scheme remain owing under the full recourse nature of the loan.
35

Our villages
NEW ZEALAND
NORTH ISLAND EX AUCKLAND
Aotearoa Te Ika-a-māui
VillageLocationOpened
•
Malvina MajorWellington1998
•
Shona McFarlaneLower Hutt2000
•
Rita AngusWellington2001
•
Hilda RossHamilton2002
•
Princess AlexandraNapier2003
•
Jane WinstoneWhanganui2006
•
Julia Wallace
Palmerston North
2007
•
Jean SandelNew Plymouth2009
•
Jane ManderWhangārei2009
•
Kiri Te KanawaGisborne2011
VillageLocationOpened
•
Bob OwensTauranga2011
•
Charles FlemingWaikanae2012
•
Bob ScottLower Hutt2015
•
Linda JonesHamilton2019
•
James WattieHavelock North2020
•
Patrick HoganCambridge2023
•
Karori
1
Wellington–
•
Ta u p ō––
WELLINGTON
Te Whanganui a-Tara
LOWER HUTT
Te Awa Kairangi ki Tai
1
WAIKANAE
PALMERSTON NORTH
Te Papaioea
WHANGANUI
NEW PLYMOUTH
Ngāmotu
HAVELOCK NORTH
Karanema
NAPIER
Ahuriri
GISBORNE
Tūranga-nui-a-Kiwa
TAURANGA
TA U P Ō
HAMILTON
Kirikiriroa
CAMBRIDGE
Kemureti
WHANGĀREI
2
2
1
1
1
1
1
1
1
1
1
2
1
1
Open & complete
14
Open & under construction
2
Under construction
-
Planned
2
Total18
1
Council approved.All maps current as at 30 September 2023.
36
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

NEW ZEALAND
AUCKLAND REGION
Aotearoa Tāmaki-makau rohe
VillageLocationOpened
•
Grace JoelSt Heliers2002
•
Edmund HillaryRemuera2007
•
Evelyn PageOrewa2009
•
Bruce McLarenHowick2014
•
Possum BournePukekohe2015
•
Bert SutcliffeBirkenhead2016
•
Logan CampbellGreenlane2018
•
Murray HalbergLynfield2018
•
William SandersDevonport2019
•
Miriam CorbanHenderson2020
VillageLocationOpened
•
Keith ParkHobsonville2021
•
Takapuna––
•
Karaka––
WILLIAM
SANDERS
TAKAPUNA
BRUCE MCLAREN
EDMUND
HILLARY
GRACE JOEL
KEITH PARK
LOGAN CAMPBELL
MIRIAM
CORBAN
MURRAY
HALBERG
KARAKA
BERT SUTCLIFFE
Open & complete
7
Open & under construction
4
Under construction
1
Planned
1
Total13
POSSUM BOURNE
EVELYN PAGE
37

Open & complete
11
Open & under construction
2
Under construction
-
Planned
2
Total15
VillageLocationOpened
•
WoodcoteChristchurch1991
•
Essie SummersChristchurch1991
•
Margaret StoddartChristchurch1993
•
Frances HodgkinsDunedin1994
•
Rowena JacksonInvercargill1996
•
Ngaio MarshChristchurch1998
•
Anthony WildingChristchurch2006
•
Ernest RutherfordNelson2008
•
Yvette WilliamsDunedin2011
•
Diana IsaacChristchurch2012
VillageLocationOpened
•
Charles UphamRangiora2016
•
Kevin HickmanChristchurch2021
•
NorthwoodChristchurch2023
•
Park Terrace
1
Christchurch–
•
Rolleston
1
––
NEW ZEALAND
SOUTH ISLAND
Aotearoa Te Waipounamu
INVERCARGILL
Waihōpai
DUNEDIN
Ōtepoti
RANGIORA
CHRISTCHURCH
Ōtautahi
NELSON
Whakatū
1
1
6
1
ROLLESTON
Tauwharekākaho
1
21
2
1
Council approved.
38
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

1
Council approved.

2
Essendon Terrace was acquired in 2021.
VillageLocationOpened
•
Weary DunlopWheelers Hill2014
•
Essendon Terrace
2
Essendon2014
•
Nellie MelbaWheelers Hill2018
•
Charles BrownlowHighton2020
•
Deborah CheethamOcean Grove2020
•
John FlynnBurwood East2020
•
Raelene BoyleAberfeldie2021
•
Bert NewtonHighett2023
•
Ringwood East––
•
Mulgrave––
VillageLocationOpened
•
Mt Eliza
1
––
•
Essendon––
•
Coburg North––
•
Kealba––
AUSTRALIA
VICTORIA
In the spirit of reconciliation, Ryman Healthcare
acknowledges the Traditional Custodians of country
throughout Australia and their connections to land,
sea and community. We pay our respect to their
Elders past and present and extend that respect to
all Aboriginal and Torres Strait Islander peoples today.
Open & complete
5
Open & under construction
3
Under construction
2
Planned
4
Total14
CHARLES
BROWNLOW
RAELENE BOYLE
KEALBA
DEBORAH
CHEETHAM
WEARY DUNLOP
NELLIE MELBA
COBURG NORTHJOHN FLYNN
ESSENDON
MULGRAVE
BERT NEWTON
RINGWOOD EAST
MT ELIZA
ESSENDON TERRACE
39

Directory
REGISTERED OFFICE
Airport Business Park
92 Russley Road
Christchurch 8042
PO Box 771, Christchurch 8140
New Zealand
SHARE REGISTRAR
Link Market Services
PO Box 91976, Auckland 1142
New Zealand
P: +64 9 375 5998
E: enquiries@linkmarketservices.co.nz
New Zealand
0800 588 222
rymanhealthcare.co.nz
Australia
1800 922 988
rymanhealthcare.com.au
For more information on any of Ryman Healthcare’s retirement villages:
MELBOURNE OFFICE
Level 5, 6 Riverside Quay
Southbank, VIC 3006
PO Box 54
Collins Street West
Melbourne, VIC 8007
Australia
AUCKLAND OFFICE
Building 2, Level 2
Central Park
666 Great South Road
Ellerslie, Auckland 1051
New Zealand
40
RYMAN HEALTHCARE HALF YEAR REPORT SEPTEMBER 2023

rymanhealthcare.co.nz
rymanhealthcare.com.au