Oceania Healthcare (OCA) Investor Presentation summary

Operational and strategic highlights

• Sales execution improved, with new sales volumes at The Helier doubling year-on-year and over 90% of Bellevue apartments sold within 18 months of opening.

• Care occupancy for non-development sites rose to 94.5%, and a record sell-down rate was achieved at Redwood, reaching 62% occupancy within 12 months.

• 88% of portfolio sites have been redeveloped or acquired since IPO, focusing on modernisation and increasing independent living units.

• Divestment of 7 sites in FY25 generated $35.5m, with a right-sizing programme targeting $5m in cost savings for FY26.

• A company-wide optimisation programme aims for $15–$20m in annualised cost savings by FY27, with $5.2m already actioned for 2HY26.

Financial performance and capital management

• Underlying EBITDA increased 4.1% to $86.0m, with total comprehensive income up 5.8% to $74.6m.

• ORA receipts rose 30.1% to $294.5m, and operating cashflow increased 6.7% to $110.3m.

• Total sales volume grew 9.2% to 520 units, driven by a 17.2% increase in new sales volumes.

• Gearing reduced to 36.3%, and no final dividend was declared pending a policy review.

• Realised capital gains rose 22.6% to $83.2m, with premium care revenue up 12.5%.

Portfolio, stock, and development outlook

• Unsold stock, including resales, stands at $392m, with $104m of development stock remaining from key projects.

• Development stock reduced despite adding $120m of new stock, with $131m in sales during the period.

• $146m of asset coverage supports current development-related debt, with excess proceeds earmarked for debt repayment.

• Landbank includes 23.5ha for future development, offering flexibility for both villa and high-density projects.