Radius Residential Care Limited (NZX: RAD) (Radius Care) today confirmed that operating results for the financial year ended 31 March 2025 (FY25) were materially ahead of the prior year, due to strong trading during the final quarter.

Preliminary Key FY25 Financial Metrics (Subject to Completion of Audit):

  • Underlying EBITDA[1] of $23.3m – $23.7m, vs $20.9m for FY24 (FY24 included one additional care home for nine months).
  • Underlying EBITDA1 growth of c23% for the second half year (2H25) vs 2H24.
  • EBITDAR per occupied bed1 of $27.9k (vs $24.7k for FY24).
  • Average occupancy for FY25 of 92.8% (vs 91.8% for FY24).  Occupancy for the last week of FY25 was 93.9%.
  • Drawn debt of $70.2m (vs $75.9m for FY24).
  • Net Interest Expense of $6.1m (vs $9.5m for FY24).

 

“As a specialist care provider with a clear focus on our core business, Radius Care’s exceptional people have once again delivered industry leading results and profitable growth across the Group. Our strong occupancy demonstrates there is ongoing demand for high quality residential aged care services, and in particular for high acuity hospital care” said Brien Cree, Radius Care’s Executive Chair.

Radius Care intends to release its full audited financial results for the FY25 year in late May 2025.

 

Business Performance

Andrew Peskett, Radius Care’s CEO, commented “the strong operating performance in FY25 was driven by a number of factors and gives Radius Care a strong foundation for continued growth:

1.       Exceptional people leading our 1,700 committed team members delivering exceptional care in our care homes.

2.     Increased Accommodation Supplement revenue (+$1.0m / +11% vs FY24).

3.     Strong occupancy and improved mix, with higher-revenue Hospital and ACC occupancy.

4.     Contribution of Cibus Catering (51% interest acquired on 1 October 2024).

5.     Reduced debt and lower interest rates decreasing interest costs by $3.4m.”

 

Dividend

As previously announced, Radius Care has returned to the previous cycle of an interim dividend paid in December and a final dividend paid in June, both carrying full imputation credits.  The Board expects to announce a final dividend in May 2025 when audited financial statements for FY25 are released.

[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 2025.