Promisia Healthcare (PHL) AGM 2026 summary

Opening remarks and agenda

• Chair welcomed shareholders, confirmed quorum, and outlined meeting procedures, including online participation and safety protocols.

• Board members and senior leadership team were introduced, and the agenda included business updates, the Chatswood acquisition, Q&A, and formal resolutions.

• Focus shifted to sustaining performance, disciplined capital allocation, and growth following a year of material improvement in occupancy, earnings, cash flow, and asset values.

• Recognition given to care teams, facility managers, and support staff for their contributions.

Financial performance review

• Revenue increased by 29% to NZD 40.1 million, driven by higher occupancy and full-year Cromwell contribution.

• Underlying EBITDAF rose 58% to NZD 6.6 million; net operating cash flow up 87% to NZD 6.4 million.

• Group care occupancy improved from 87% to over 95%, with all sites increasing in value by at least 10%.

• NTA per share increased by 38% to NZD 1.09; loan-to-value ratio reduced from 59.1% to 31.8%.

• Balance sheet reset with reduced bank leverage, simplified funding structure, and liquidity at ~$6m.

Board and executive committee updates

• Leadership changes and operational discipline credited for improved performance and consistency.

• Board expressed confidence in the strengthened position and outlook for the coming year.

• Thomas Brankin stepped down from his executive role and continues as a non-executive, non-independent director.