The ASX-listed mutual company reported EBITDA of $136.2 million for the year to 30 June 2025, nearly double the previous year's $70.4 million.
Revenue was up 24% to $2.6 billion.
During the year, the Group invested $70.2 million of non-recurring expenses into its integration and transformation programs, which it expects to be "substantially complete" by 31 December 2025. However, the company notes, "these programs may be affected if there were to be further material delays in the implementation of the Aged Care Act 2024 reforms".
The results reflect the first full-year contribution from buying myHomecare Group in March 2024, which contributed $36.9 million of adjusted EBITDA in FY25.
In the Home Health business, adjusted EBITDA, including $47.1 million of non-recurring transformation and integration expenses, was $55.8 million, up 10% on the previous year.
The company said it was operating in a "dynamically adjusting environment" given the deferred release of new Home Care Packages and the delay to the commencement of the Support at Home reforms. As a result, Home Health saw a decline in Home Care Packages under management and a decline in the total number of Home Health carers as of the end of the financial year.
In residential aged care, EBITDA rose 41% to $54.8 million, on 21% in revenue to $253.3 million, thanks to higher occupancy rates and the repurposing of assisted living apartments at The Alba in South Melbourne into residential aged care.
The group owns 12 aged care homes across NSW, Vic and Qld.
