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Highlights

  • In 1HFY25, RYM’s NPAT fell by a 50% YoY to NZD 94.4 million
  • In FY25, free cash flow is expected to be negative, between NZD 50–100 million
  • Total capital expenditure of NZD 625–675 million is forecasted for FY25

Founded in 1984, Ryman Healthcare Limited (NZX:RYM) is a New Zealand-based company that offers retirement living options. The company is listed on the NZX 50 index and has a market cap of NZD 2.92 billion.

In the first half of the financial year 2025 (1HFY25), Ryman reported a 10% YoY increase in revenue to NZD 366.3 million, driven by higher care and village fees, the opening of one new village and three main buildings, and growth across its existing portfolio. Despite this revenue growth, net profit after tax (NPAT) fell by a 50% YoY to NZD 94.4 million, down from NZD 187.1 million in 1H24.

Sales of Occupation Right Agreements (ORAs) rose by 5% YoY to 827, marking the highest six-month sales performance in three years.Outlook

In FY25, the free cash flow is now expected to be negative, ranging between NZD 50–100 million, due to the deferral of settlements into FY26 (previously guided as targeting positive free cash flow). Total capital expenditure is projected to range between NZD 625–675 million in FY25, reflecting a slowdown in some ongoing projects and reduced investment in land bank sites.

The company anticipates delivering retirement village units and aged care beds at the upper end of the previously indicated range of 850–950.

Top 10 shareholders of RYM

The top 10 shareholders of RYM have around 42.63% shareholding in the company. Cumming (Geoffrey Alexander) has the highest stake in the companywith a shareholding of 7.64%, followed by Cooper Investors Pty Ltd., with a shareholding of nearly 6.51%.

Share performance of RYM

RYM shares closed 0.82% lower at NZD 4.25 per share on 12 December 2024. In the past one year, RYM’s share price has dropped by almost 20.47%, while in the last six months, the share price has increased by nearly 12.70%.

52-week high of RYM is NZD 6.02, recorded on 17 January 2024, 52-week low is NZD 3.40, recorded on 5 July 2024.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is December 12, 2024. The reference data in this report has been partly sourced from EODHD/Others.