Final Dividend and Strong FY24 Operating Performance

22 April 2024

Market update: Final Dividend and Strong FY24 Operating Performance
Radius Residential Care Limited (NZX: RAD) today announced a final dividend for
FY24, and provided guidance on key financial metrics (subject to completion of
audit) and a business performance update.
Key financial metrics (subject to completion of audit):
 Underlying EBITDA
1
of $21m, 48% up on FY23.
• AFFO
1
of $7.5m, 89% up on FY23.
• EBITDAR per bed
1
of $24.6k.
• Net debt of $73.5m, a reduction of $26.5m/26.5% vs prior year, with $18.3m from
Arran Court and the remainder of $8.2m from operating cashflow.
• No short-term debt remaining at 31 March 2024, with an average tenure of 2.8
years and $3.5m undrawn debt facilities.
• Cash dividend of 0.7cps, with full imputation credits resulting in a gross dividend
of 0.97cps.
“As a specialist care provider with a clear focus on our core business, Radius Care’s
exceptional people have delivered industry leading results and profitable growth
across the Group. With a strengthened balance sheet and positive operating
cashflow, the Board is pleased to resume dividend payments” said Brien Cree,
Radius Care’s Executive Chair. Radius Care intends to release its full audited financial
results for the FY24 year in late May 2024.
Business Performance
Andrew Peskett, Radius Care’s CEO, commented “the strong operating
performance was driven by a number of factors:
1. Exceptional people leading our 1,700 committed team members delivering
exceptional care in our fully staffed care homes.
2. Increased Accommodation Supplement revenue (+$1.9m vs FY23).
3. Significant cost out programme successfully implemented in early FY24,
delivering $1.3m in annual cost savings.
4. Improved mix, with higher-revenue Hospital and ACC occupancy.
5. Completion of debt management program including ASB refinancing to
reduce interest costs by $1 million per year.
6. Strong resale gains at villages of $1.8m. “
Dividend

1
These measures are non-GAAP (unaudited) financial measures. A reconciliation between
the financial statements and these measures will be included within the Investor
Presentation in late May 2024.

A dividend of 0.70 cents per share has been declared for the FY24 year. The dividend
will carry full imputation credits, resulting in a gross dividend of 0.97 cents per share.
The dividend will be paid on 16 May 2024, with a record date of 2 May 2024. The Board
has determined that the Dividend Reinvestment Plan will not apply to this dividend.
The payout ratio for the dividend is 27% of FY24 full year AFFO, which is below the
target payout ratio of 50% to 70% of AFFO, due to the priorities earlier in FY24 of
repaying debt and strengthening the balance sheet.
Outlook
Subject to normal trading conditions, Radius Care expects continued growth in
Underlying EBITDA and other metrics in FY25 vs FY24.
The Board is targeting a return to the previous cycle of an interim dividend paid in
December and a final dividend paid in June.
ENDS
Media and Investor Contacts
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: andrew.peskett@radiuscare.co.nz

Jeremy Edmonds
Chief Financial Officer
Phone: +64 22 650 9354
Email: jeremy.edmonds@radiuscare.co.nz



About Radius Care
Radius Residential Care Limited was founded in 2003 and operates in the New
Zealand aged care and retirement village sectors. It is a nationwide provider offering
the full range of accommodation and care options giving residents the ability to "age
in place". Today, Radius Care operates 23 aged care facilities, of which it owns 12 and
leases 11. Four owned facilities also include retirement villages and Radius Care’s
online shop sells specialist assisted-living products. The company employs over
1,700 people, including highly qualified healthcare staff who are committed to
providing the very best in nursing care. Radius Care listed on the NZX in December
2020. For more information visit radiuscare.co.nz or check out our Facebook page
@RadiusCareNZ.

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Section 1: Issuer information
Name of issuer Radius Residential Care Limited
Financial product name/description Ordinary shares
NZX ticker code RAD
ISIN (If unknown, check on NZX
website)
NZRADE0005S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year X Quarterly
Half Year Special
DRP applies
Record date 2 May 2024
Ex-Date (one business day before the
Record Date)
1 May 2024
Payment date (and allotment date for
DRP)
16 May 2024
Total monies associated with the
distribution
$1,994,137
Source of distribution (for example,
retained earnings)
Retained earnings
Currency NZ$
Section 2: Distribution amounts per financial product
Gross distribution $ 0.00972222
Gross taxable amount $ 0.00972222
Total cash distribution $ 0.00700000
Excluded amount (applicable to listed
PIEs)
$ N/A
Supplementary distribution amount $ N/A
Section 3: Imputation credits and Resident Withholding Tax
Is the distribution imputed Fully imputed
If fully or partially imputed, please
state imputation rate as % applied
28%
Imputation tax credits per financial
product
$ 0.00272222
Resident Withholding Tax per
financial product
$ 0.00048611

Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Andrew Peskett
Contact person for this
announcement
Andrew Peskett
Contact phone number +64 21 747 363
Contact email address Andrew.Peskett@radiuscare.co.nz
Date of release through MAP

22 April 2024