Financial Data and Key Metrics Changes - Revenue from services increased to $1,161 million, up 15% from the prior corresponding period [16] - Underlying EBITDA rose to $125.8 million, a 17% increase [16] - Underlying net profit after tax increased by 37% to $53.4 million [16] - Net operating cash flow was $306.1 million, up 21% [16] - The company ended the year with a net cash position of $192.5 million, a 197% increase from the prior year [26] Business Line Data and Key Metrics Changes - Average occupancy in mature homes increased to 95.6%, up from 94.1% in the prior period [17] - Total average care minutes per resident per day increased from 210.5 minutes to 226.7 minutes [17][23] - Staff costs increased by $113 million or 15%, driven by additional direct care hours and wage increases [23] Market Data and Key Metrics Changes - 26.5% of Australians aged 85 and over accessed residential aged care during FY24 [6] - An estimated 9,300 net new beds are needed each year for the next 20 years to meet demand [6] - Only 6,546 net new beds were added across the four years to FY24, indicating a supply shortfall [6] Company Strategy and Development Direction - The company aims to reach a target of 10,000 residential aged care beds by FY28, up from approximately 7,600 beds [46] - The strategy includes disciplined acquisitions, greenfield and brownfield developments, and refurbishment of existing homes [40][46] - The company plans to open two to three greenfield developments per year [7][36] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of the New Aged Care Act, which is expected to commence on 01/2025, and its implications for funding and care standards [12][14] - The company is well-positioned to meet the increasing demand for aged care services due to demographic trends and government support [7][56] - Management expressed confidence in the value of current service packages and the ability to adapt to changes in the regulatory environment [59] Other Important Information - The company completed the acquisition of four premium homes from Rockpool, adding 600 beds to its portfolio [3][38] - The average incoming room price increased by over 12% during the year, reflecting adjustments to the new maximum rates [31][62] - The company has a robust governance structure with a majority independent board and established liquidity management policies [14] Q&A Session Summary Question: Transition to health from extra services - Management expressed confidence in the value of current packages and plans to transition most services into bundles while ensuring the value exceeds the price [59][60] Question: Expectations for RAD prices - Management noted that the recent increase in RAD prices was a correction after a long period of stagnation, with expectations for mid to high single-digit growth in the coming year [61][64] Question: Occupancy expectations for FY26 - Management indicated that while they aim for occupancy above 95%, achieving 100% is not feasible due to operational constraints [68][69] Question: Staff expenses as a percentage of revenue - Management clarified that staff expenses are expected to increase slightly in FY26, influenced by government funding decisions [70][71] Question: CapEx expectations for FY26 - Management projected CapEx to be around $100 million for FY26, reflecting ongoing investments in greenfield developments and refurbishments [72] Question: Outlook for FY26 and RAD retention - Management indicated that while base business EBITDA margins may remain flat, RAD retention will be crucial for growth [74][77] Question: Resident profile and RAD penetration - Management expects the resident profile to remain stable, with potential increases in RAD-paying residents due to recent acquisitions [79]

Financial Performance - Revenue from services increased by 145% to $11613 million[42] - Underlying EBITDA increased by 174% to $1258 million[42] - Underlying NPAT increased by 373% to $534 million[42] - Statutory NPAT increased significantly by 3286% to $490 million[42] - Net operating cash flow increased by 213% to $3061 million[42] - Net cash position improved substantially by 1966% to $1925 million[42] Operational Highlights - Mature homes average occupancy increased from 941% to 956%[40, 42] - Average overall star rating improved from 362 to 378[42] - Average care minutes per resident per day increased from 2105 minutes to 2267 minutes[42] Market and Strategy - The company is targeting 10000 beds through acquisitions and developments[103] - The company acquired or is in the process of acquiring approximately 1500 high-quality beds[102, 105] - The company is targeting margin expansion in the future[102, 105]

Financial Data and Key Metrics Changes - The company reported an underlying EBITDA of $20 million for FY '25, with operating cash flow also at $20 million and reduced debt levels to $67.7 million [23][34] - The total FY '25 dividend was $1.45 per share, representing a gross fully imputed dividend of $2.01 per share, which is 47% of AFFO, aligning with the target payout ratio of 40% to 70% [21][34] Business Line Data and Key Metrics Changes - Radius Care operates 24 aged care homes and four retirement villages, focusing on high acuity aged residential care and health services [12][13] - The company acquired the 109-bed St. Elisa care home in Christchurch for just under $1.1 million, expected to contribute to earnings from the second half of FY '26 [14][15] - CBIZ Catering Limited, acquired in October 2024, contributed $4.1 million in revenue and $500,000 in EBITDA for the period from October 2024 to March 2025 [15][16] Market Data and Key Metrics Changes - Occupancy rates are currently over 95%, with the latest figure at 95.8% [13][32] - The company has expanded into in-home care services, addressing the needs of New Zealand's aging population [17] Company Strategy and Development Direction - The company is in growth mode, focusing on capital light acquisitions, revenue diversification, and extending home opportunities [14][20] - The updated capital management framework aims to support reinvestment in core operating assets while maintaining sustainable dividend growth [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for growth across key financial metrics in FY '26, including underlying EBITDA and AFFO [21][35] - The company anticipates strong trading performance, with an upgraded guidance for underlying EBITDA in the first half of FY '26 to be between $14 million and $16 million [33] Other Important Information - The company has a strong focus on staff training and well-being, with a Net Promoter Score of 74 for facility managers, indicating high employee engagement [26][28] - The company has developed RadPro, an operational template that supports resident-centric decision-making and continuous improvement [18][39] Q&A Session Summary Question: Can you provide more details on RadPro and its development? - RadPro is the operating system developed over 21 years, encompassing all aspects of operations, including staff education and efficiency tools. It is now being expanded into home care services and has potential for marketing outside New Zealand [38][40]

Financial Performance & Growth - The company reported a 39% profit growth [30] - Underlying EBITDA for 1H26 is projected to be $14 million to $16 million [30, 56] - Underlying EBITDA increased by 20% to $23.5 million from $19.5 million [43] - Underlying EBITDAR Per Care Bed increased by 13% to $27.9K from $24.7K [45] - Total FY25 cash dividend was 1.45cps, compared to 0.70cps in FY24 [45] Expansion & Acquisitions - Acquired St Allisa, a 109-bed care home, through a leaseback arrangement [24, 27, 30] - Acquired 51% of Cibus Catering Limited, resulting in a $4.1 million revenue uplift [30] - Pursuing capital-light expansion focused on new-build 100-bed care homes leased from private investors [28] Operational Efficiency & Staffing - Company-wide staff turnover decreased by 30% year-on-year, reaching a record low [48] - 86% of care homes audited in FY25 received 4-Year Certification [49] - Average occupancy is trending upwards, reaching approximately 95% [50] - The company acquired 920,000 shares for $280,000, with an average buyback price of 30.4cps [39, 40]