For personal use only
Appendix 4D
Regis Healthcare Limited
Results for announcement to the market
For the half-year ended 31 December 2021
(previous corresponding period being the half-year ended 31 December 2020 (restated)1)
% change | $'000 | |||
Revenue from services | Up | 3.1% | to | 364,244 |
Profit after tax from ordinary activities (prior to amortisation) | Up | 24.2% | to | 10,577 |
attributable to members2 | ||||
Profit after tax from ordinary activities attributable to members | Down | (143.1%) | to | (3,669) |
Net profit after tax attributable to members | Down | (143.1%) | to | (3,669) |
Dividend information
Amount per | ||||||||||
security | Franking % | Record date | Payment date | |||||||
Current period | ||||||||||
Interim dividend | 3.52 cents | 50% | 11 March 2022 | 8 April 2022 | ||||||
Year ended 30 June 2021 | ||||||||||
Interim dividend | 2.00 cents | 50% | 11 March 2021 | 8 April 2021 | ||||||
Final dividend | 4.63 cents | 50% | 16 September 2021 | 30 September 2021 | ||||||
Total dividend | 6.63 cents | 50% | ||||||||
Other Information | ||||||||||
Restated1 | ||||||||||
31 December | 31 December | |||||||||
2021 | 2020 | % change | ||||||||
(cents) | (cents) | |||||||||
Net tangible asset backing per ordinary share3 | (89.79) | (89.21) | (0.7%) |
Commentary on the results for the period and additional ASX Appendix 4D (Listing Rule 4.2A.3) disclosures can be found in the attached Half-Year Financial Report of Regis Healthcare Limited for the period ended 31 December 2021. This document should be read in conjunction with the Annual Report of Regis Healthcare Limited for the year ended 30 June 2021 and any public announcements made in the period by Regis Healthcare Limited in accordance with the continuous disclosure requirements of the Corporations Act 2001 and ASX Listing Rules.
Malcolm Ross, Company Secretary
23 February 2022
- Refer to Note A5 for details relating to the restatement of prior period.
- Excludes amortisation of operational places for the half-year ended 31 December 2021.
- Calculated as net assets less intangible assets and deferred tax liabilities, divided by the number of ordinary shares on issue at period end. Net tangible asset backing includes the right of use assets and lease liabilities as disclosed in the Half-Year Financial Report of Regis Healthcare Limited for the period ended 31 December 2021.
For personal use only
Regis Healthcare Limited
Half-Year Financial Report 31 December 2021
Contents
only | Corporate Information |
Directors' Report | |
Auditor's Independence Declaration | |
Interim Consolidated Financial Statements | |
Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income | |
Interim Consolidated Statement of Financial Position | |
use | Interim Consolidated Statement of Changes in Equity |
Interim Consolidated Statement of Cash Flows | |
Notes to the Interim Consolidated Financial Statements | |
Section A: Basis of Preparation | |
Section B: Results for the Period | |
Section C: Operating Assets and Liabilities | |
personalFor | Section D: Capital Structure |
Section E: Other Disclosures | |
Directors' Declaration | |
Independent Auditor's Review Report | |
Glossary |
2
3
9
10
11
12
13
14
16
21
29
32
33
34
36
REGIS HEALTHCARE LIMITED | HALF-YEAR FINANCIAL REPORT | 31 DECEMBER 2021 1
Corporate Information
For personal use only
Directors
Graham K Hodges | Chairman, Non-Executive Director |
Linda J Mellors | Managing Director and Chief Executive Officer |
Christine C Bennett AO | Non-Executive Director |
Bryan A Dorman | Non-Executive Director |
Ian G Roberts | Non-Executive Director |
Sally M Freeman | Non-Executive Director (appointed 17 January 2022) |
Sylvia Falzon | Non-Executive Director (retired 26 October 2021) |
Matthew J Quinn | Non-Executive Director (retired 26 October 2021) |
Company Secretary
Malcolm Ross
Registered Office
Level 2, 615 Dandenong Road
Armadale VIC 3143
Principal Place of Business
Level 2, 615 Dandenong Road
Armadale VIC 3143
Share Registry
Link Market Services Limited
Tower 4, 727 Collins Street
Melbourne VIC 3000
Phone: 1300 554 474
Securities Exchange Listing
Regis Healthcare Limited shares are listed on the
Australian Securities Exchange (ASX code: REG)
Solicitors
Herbert Smith Freehills
80 Collins Street
Melbourne VIC 3000
Auditors
Ernst & Young Australia
8 Exhibition Street
Melbourne VIC 3000
REGIS HEALTHCARE LIMITED | HALF-YEAR FINANCIAL REPORT | 31 DECEMBER 2021 2
For personal use only
Directors' Report
Your Directors present their report on Regis Healthcare Limited (the 'Company') and its controlled entities (the 'Group' or 'Regis') for the half-year ended 31 December 2021.
Directors
The names of Directors (collectively, the 'Board') in office at any time during or since the end of the six-month period are:
Graham K Hodges | Chairman, Non-Executive Director |
Linda J Mellors | Managing Director and Chief Executive Officer |
Christine C Bennett AO | Non-Executive Director |
Bryan A Dorman | Non-Executive Director |
Ian G Roberts | Non-Executive Director |
Sally M Freeman | Non-Executive Director (appointed 17 January 2022) |
Sylvia Falzon | Non-Executive Director (retired 26 October 2021) |
Matthew J Quinn | Non-Executive Director (retired 26 October 2021) |
Operating and Financial Review
As at 31 December 2021, Regis owns and operates 64 aged care homes, including 7,059 available operational places and provides residential aged care services in six States and the Northern Territory. In addition, Regis, through retirement living, manages over 570 retirement village units across eight retirement villages and three affordable housing communities. Regis also offers home care services that have been identified for strategic growth over the medium-term.
Business Model
Regis aims to provide quality care to meet the growing needs of Australia's elderly population. This is achieved through a focus on the following core areas:
- Care delivery: Supporting care and clinical staff to deliver quality care outcomes for residents and clients consistent with their expectations and those of their families and loved ones.
- Focused and well-resourcedrisk management: Regis has robust systems and processes in place to manage clinical care and governance and the broader business' operational risks, including those that relate to aged care legislative compliance and health and safety.
- Vertical integration: The spectrum of activities Regis undertakes includes analysis of each proposed residential aged care home's catchment area, site identification, site acquisition, brownfield/greenfield development, home operation and asset renewal.
- Strong cash flow generation: Regis aims to achieve and maintain strong cash flow from operations, which it augments with a focus on the receipt and profitable use of Refundable Accommodation Deposits (RADs). Regis leverages its RAD cash inflows from developments to facilitate the repayment of acquisition and development related debt.
- High quality portfolio: Homes are primarily located in metropolitan areas with high median house prices. The homes are typically modern with a high proportion of single rooms and an emphasis on lifestyle and supported living.
- Scalable platform: Regis has invested in scalable business processes supported by IT systems and in-house resources to facilitate growth through acquisitions and developments.
Review and Results of Operations
To assist in the evaluation of the financial performance of the Group, certain measures are used that are not recognised under Australian Accounting Standards or International Financial Reporting Standards ('IFRS') and therefore, these are considered to be non-IFRS measures. Adjusted earnings before interest, tax, depreciation and amortisation ('Adjusted EBITDA')4 is reported in order to provide a greater understanding of the performance of the Group. All other amounts reported below are recognised and measured in accordance with Australian Accounting Standards.
4 Non-IFRS financial information has been prepared in accordance with ASIC Regulatory Guide 230 - Disclosing non-IFRS financial information, issued in December 2011. Non-IFRS financial information, while not subject to an audit or review, has been extracted from the Financial
Report, which has been subject to review by the Group's external auditors. Adjusted earnings before interest, tax, depreciation and amortisation ('Adjusted EBITDA'), which excludes imputed income on RADs and Bonds of $31.4 million (H1 FY21: $32.7 million), $4.5 million of incremental COVID-19 expenses and includes operating lease expense of $0.7 million (H1 FY21: $0.7 million), is reported in order to provide shareholders with a greater understanding of the performance of the Group. A reconciliation of profit before income tax to Adjusted EBITDA is provided on page 5.
REGIS HEALTHCARE LIMITED | HALF-YEAR FINANCIAL REPORT | 31 DECEMBER 2021 3
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Regis Healthcare Ltd. published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 21:54:17 UTC.