NZ village operator Ryman announces NZ$103M HY profit – total assets $7.6B

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New Zealand once again demonstrates that retirement villages are in high demand when the community understands the value proposition.

Ryman Healthcare has just announced its half year underlying profit of $NZ$103M from 34 NZ villages and two operational villages in Australia. They forecast between $250M and $265M for the full year.

This equates to the equivalent of $6-7M per village per year.

The value proposition is that they will support residents with care through to the end of their days.

The result is they have only 1.6% of their village units vacant and not sold.

The aged care homes have 97% occupancy.

Total assets are $7.26 billion. This compares with Aveo with 93 villages and care locations being valued at $6.6 billion.

The New Zealand retirement village sector has invested heavily in establishing its ‘social licence’ with government and the community; this is the objective of the new Code of Conduct.