Highlights

  • RYM’s quarterly sales volumes increased 9% compared with Q1 FY26, marking consecutive quarterly growth.
  • Occupancy across mature aged care centres averaged 95.8%, slightly below Q1 FY26 levels.
  • Ryman Healthcare reported 367 ORA sales in Q2 FY26, including 93 new and 274 resales.

Ryman Healthcare (NZX:RYM) (ASX:RYM) established in Christchurch in 1984, manages 49 retirement villages across New Zealand and Australia, accommodating 15,200 residents and employing 7,800 staff. For the three months ended 30 September 2025, Ryman Healthcare reported 367 occupation right agreement (ORA) sales, comprising 93 new and 274 resale units. These numbers include only retirement village units and do not account for refundable accommodation deposits (RADs) or ORAs linked to aged care facilities.

Sales volumes increased 9% compared with Q1 FY26, marking a second consecutive quarterly rise. However, the figure was 18% lower than Q2 FY25, which had been a record quarter for the group.

The company attributed the sequential improvement to enhanced sales effectiveness and higher conversion rates from contracts to settlements.

Occupancy and Operational Updates

Occupancy across Ryman’s mature aged care centres averaged 95.8% during Q2 FY26, slightly below 96.3% in Q1, reflecting seasonal effects during the winter period.

In August, Ryman began closing its rest-home-level-only care centres at Woodcote and Margaret Stoddart in Christchurch, citing the need for substantial reinvestment to meet standards. This action is part of a previously announced review of aged care capacity in New Zealand. Residents from these centres are being assisted to relocate to other Ryman locations, including the new 80-bed Kevin Hickman care centre, which achieved nearly 50% occupancy within three months of opening.

Management Commentary

CEO Naomi James stated, “It’s pleasing to see our sales continue to improve in a highly competitive market. Our sales teams have done an outstanding job of adapting their approach to our new standard pricing model, which has driven a significant uplift in average deferred management fee (DMF) of close to 40%. While we’ve seen sales improve more quickly than expected, we’re maintaining a clear focus on rebuilding volumes to a sustainable level amongst inconsistent housing market conditions.”

Outlook

Ryman Healthcare reported 704 ORA sales in the first half of FY26, compared with 827 in the same period of FY25 and 696 in the second half of FY25. Current sales volumes are exceeding the previously provided FY26 guidance range of 1,100–1,300 ORA sales. The company plans to release an updated guidance range with its first-half FY26 results on 27 November 2025.

Share Performance of RYM

RYM’s stock is currently trading at NZD 2.90 per share up by 3.20% from its previous close of NZD 2.81.