# Arvida Group Limited — Annual Report 2024 (year ended 31 March)

Historical FY2024 operator report on care occupancy, resident and employee feedback, development, audited financial statements, climate scenarios and governance; underlying profit and care-quality narrative have separate assurance limits.

## Source identity and preserved capture

- Catalogue ID: doc-0181.
- Publisher: Arvida Group Limited.
- Original file: [2024 - Arvida - Annual Report.pdf](/pdfs/2024%20-%20Arvida%20-%20Annual%20Report.pdf).
- Physical PDF pages: 138; original bytes: 21,639,125.
- SHA-256: `93cdd58653bd59a6194492765e9b20c4b4949c09c591b61305a8504b2bc31827`.
- Original catalogue access label: June 2026; retained without inferring an exact capture day.
- Primary evidence review: 10 October 2026; this is separate from source publication and reporting dates.
- [Exact current issuer PDF](https://cdn.sanity.io/files/4j224k1d/production/7efa479150a9143c58cd9802f995916d76a19d17.pdf) matches the original byte for byte.
- [Arvida results archive](https://www.arvida.co.nz/investors/results-and-reports); [Issuer annual-report release](https://prod.arvida.co.nz/investors/nzx-releases/release/arvida-group-limited-annual-report-2024).

- periodEnd: 2024-03-31
- financialApprovalAndAuditDate: 2024-05-27
- issuerReleaseDate: 2024-06-27
- climateStatementDate: 2024-06-27
- pdfProductionMonth: 2024-07
- publicationPrecision: Exact issuer release day; later PDF production distinct

The original catalogue count of 412 was incorrect: the retained edition has 138 physical pages. Some extracted headings contain stale hidden text; visually rendered source pages take precedence. July PDF production metadata follows the June issuer release.

## What the report establishes

Arvida’s 138-page annual report covers the year ended 31 March 2024. The issuer archive dates its release to 27 June 2024; the financial statements were approved and audited on 27 May, and the retained PDF has July production metadata. The current issuer download matches the preserved June 2026 capture byte for byte.

The report describes a needs-based retirement-living and care model, reporting average FY2024 care occupancy of 93%, 201 new units delivered across eight sites, and a 1,877-unit development pipeline subject to planning and Board approval. Resident Net Promoter Scores from the December 2023 survey were +42 for independent living and +46 for care; the report does not supply response counts or rates for those figures. A separate employee survey had 70% participation.

Audited net profit after tax of $139.363 million includes a $164.955 million investment-property fair-value gain. The company’s $85.352 million underlying profit is explicitly unaudited and reconciled separately. EY’s financial audit covers pages 55–80, rather than the care narrative or all climate claims. Climate scenarios are illustrative futures, and the coastal-flood screen omits Bay of Plenty because mapping data were unavailable.

Use this edition to understand historical operating priorities and develop questions about care access, staffing, fees, property valuation and site-specific resilience. It does not establish today’s vacancies, contract terms, staff roster, care certification, flood safety or completion of forecast developments. Later FY2026 material is now listed by the issuer.

## Findings and page references

- Release: 27 June 2024; financial year ended 31 March 2024. Financial approval/audit: 27 May 2024. July PDF production metadata is a separate date, not a new reporting period (issuer archive; pp. 2, 54, 83).
- The FY2024 snapshot reports 36 locations and 5,789 retirement units and care beds. These are the company’s mixed portfolio measures, rather than a national ARC-bed count (pp. 4–5).
- Average care occupancy was reported as 93% for FY2024 versus 91% for FY2023; this annual portfolio measure does not indicate current vacancies at an individual home (pp. 12–13).
- The December 2023 resident survey reports NPS +42 for independent living and +46 for care; response counts/rates are not supplied here, and the care score was +59 in the prior comparison (pp. 39–40).
- Employee engagement was 7.7/10 with 70% participation in the company’s Peakon survey; this denominator is employees, not residents or the national workforce (p. 35).
- The company reports 201 new units delivered across eight sites in FY2024. Its 1,877-unit future pipeline remained subject to master planning and final Board approval (pp. 46–51).
- Audited FY2024 net profit after tax was $139.363 million, including a $164.955 million investment-property fair-value gain; valuation gains are not cash care-service earnings (pp. 55, 64–65).
- Underlying profit of $85.352 million is explicitly unaudited; Table 2.1 reconciles this company-defined measure to reported net profit (pp. 19, 52).
- EY’s unmodified financial opinion covers consolidated statements on pp. 55–80; its report excludes assurance over the remaining annual-report information (pp. 81–83).
- The coastal-flood screen’s 0% figure excludes Bay of Plenty because NIWA mapping was unavailable. Climate scenario narratives are hypothetical pathways rather than enacted policy or guarantees of site safety (pp. 90–94, 99).

## Sections inspected

- Reporting basis and FY2024 portfolio (pp. 2–13)
- Chair and CEO review; profit reconciliation (pp. 14–21)
- Strategy, materiality, workforce and resident experience (pp. 22–45)
- Development and property portfolio (pp. 46–52)
- Financial statements, notes and EY opinion (pp. 53–83)
- Climate statement and illustrative scenarios (pp. 84–99)
- Governance, risk, remuneration and disclosures (pp. 100–138)

## Practical use

Compare historical operator reporting definitions and formulate facility-level questions about care availability, resident feedback, staffing, development delivery, ORA fees and exit arrangements; consult current contracts and independent facility evidence for decisions.

- Use December 2023 resident feedback as a prompt for questions; NPS is not an independent clinical-quality or complaint-resolution assessment.
- Ask the chosen village/home for current care availability, certification, staffing, fees, exit provisions and emergency planning; this FY2024 report supplies no present-day guarantee.

## Research and operator comparisons

- Occupancy and staff feedback describe one company’s portfolio and cannot estimate national unmet care need.
- Pipeline units, illustrative climate scenarios and corporate targets need subsequent evidence before being treated as delivered capacity or policy.
- Distinguish audited IFRS profit, non-cash property revaluation and unaudited underlying profit when comparing operator models.
- Compare like-for-like portfolio, employee and emissions boundaries; the report uses different joint-venture and regional exclusions.

## Evidence boundary

Commercial issuer primary evidence for FY2024. All 138 physical pages inspected, including visually rendered financial/governance text that extraction missed. Financial statements are audited; underlying profit, surveys, care narratives, targets and development plans have different assurance limits. Resident survey response counts/rates are not established. Mixed unit/bed counts, employee headcounts, equity-accounted joint ventures and emissions exclusions are not interchangeable. Coastal flood screening excludes Bay of Plenty. Climate scenarios contain fictional future events and are not current law. Separate GHG assurance is described by the issuer but its entire separate inventory/assurance engagement was not reviewed here. July PDF metadata follows the issuer’s June release. Original filename, PDF bytes and June 2026 access history are preserved; exact current publisher bytes verified 10 October 2026. FY2026 reports now exist, so FY2024 plans, contacts, ownership/roles and service claims are historical. No investment recommendation, current contract interpretation or independent care-quality certification.

All original physical pages were inspected through text extraction and targeted visual rendering. Financial-audit opinions provide bounded assurance; they do not independently certify all narratives, legal interpretations, surveys or care outcomes. This source review does not replicate valuation models, survey instruments, separate climate assurance or later development outcomes.

Detailed page text, dates, source captures, byte comparisons and visually inspected PNG proofs are preserved in `artifacts/research/operator-report-source-audit-2026-10-10.json`. Current issuer archives contain FY2026 reports; this historical edition remains intact.

Public issuer report retained for source reference. No open reuse licence established; copyright remains with the issuer and other rights holders.