Australian Unity’s village and care EBITDA earnings dropped from $24.8M in FY16 to $4.5M in FY17, largely due to the integration of the 52,000 clients and 4,000 staff AU won when they bought the NSW Government’s Home Care business for $114M.
The adjusted EBITDA for Australian Unity’s Independent and Assisted Living businesses was $4.5M.
However its revenue grew by 81.3%, from $223M to $404M, with 4.5M instances of home and disability care services delivered.
AU says they have invested ‘millions of dollars in technology and mobile devices’ to streamline the new Home Care business.
The Group has also increased its aged care beds by 102 and its ILU’s from 2,100 to 2,416.
In a statement, Group Managing Director Rohan Mead said their Health and Wealth businesses were performing strongly – but made no mention of retirement or aged care.
“During the year we addressed three significant projects for the Group: the Home Care NSW acquisition, the Herston Quarter redevelopment in inner-city Brisbane and the creation of Australian Unity Trustees,” he said. “These three initiatives have extended our service and geographic footing further than ever before.”
