# Radius Care — The Radius Way: Annual Report 2024

FY2024 care operator report on high-acuity beds, employee and resident feedback, RConnect staffing, community activity, new home-support plans and audited financial results; 49 PDF spreads contain the numbered report through page 95.

## Source identity and preserved capture

- Catalogue ID: doc-0184.
- Publisher: Radius Residential Care Limited.
- Original file: [2024 - Radius Care - Annual Report.pdf](/pdfs/2024%20-%20Radius%20Care%20-%20Annual%20Report.pdf).
- Physical PDF pages: 49; original bytes: 4,673,085.
- SHA-256: `b9f6d173788a0b58e067f4dfe1e87f46085aa9eed5ffa85e664322a35e6e192b`.
- 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://radiushealth.co.nz/wp-content/uploads/2026/08/Annual-Report-June-2024-DIG.pdf) matches the original byte for byte.
- [Radius Health investor archive](https://radiushealth.co.nz/); [Legacy issuer PDF (same bytes)](https://radiuscare.co.nz/wp-content/uploads/2024/07/Annual-Report-June-2024-DIG.pdf).

- periodEnd: 2024-03-31
- financialApprovalAndAuditDate: 2024-05-29
- annualReportApprovalDate: 2024-06-25
- firstPublicReleaseDay: Not established
- pdfProductionDate: 2024-06-25
- currentUploadPathMonth: 2026-08
- publicationPrecision: Exact report approval/date; public-release day not established

The 49 physical PDF pages are mostly paired spreads. Citations identify physical pages and the corresponding printed numbers; 89 was an incorrect catalogue count. The current upload path includes 2026/08, while the report itself is dated June 2024. Its first public-release day remains unestablished.

## What the report establishes

The Radius Way is Radius Residential Care Limited’s annual report for the year ended 31 March 2024, dated and approved as an annual report on 25 June 2024. It contains 49 physical PDF pages, predominantly paired-page spreads; the printed report runs through page 95 and a closing cover. Financial statements were authorised and audited on 29 May. The report’s date does not independently establish its first public-release day. Both the legacy issuer PDF and the current Radius Health archive download match the preserved original byte for byte; the current 2026 upload path is not a 2026 edition.

The company reports 23 care homes, four retirement villages, 1,789 care beds and 148 villas, with 87% of beds classified as high acuity. Resident satisfaction of 85% and a Facility Managers employee NPS of 74% are company survey measures with no response counts or rates supplied here. RConnect and a nascent Radius Home Support service are described alongside community stories and planned expansion; these descriptions do not verify present-day referrals or funded service availability.

The headline $20.9 million underlying EBITDA and $7.4 million Available Funds from Operations are unaudited non-GAAP measures. The financial statements instead report profit before tax of $3.599 million and a loss after tax of $8.488 million, including a material deferred-tax adjustment. Baker Tilly Staples Rodway’s unmodified opinion concerns the financial statements on printed pages 41–73; it does not assure the wider care and workforce narrative. The separate voluntary climate statement was planned for July 2024.

This historical edition helps readers ask about staffing, care mix, audit evidence, fees and support pathways. It does not demonstrate today’s bed availability, facility quality, contract terms or delivery of plans. The current issuer archive also lists FY2026 reports.

## Findings and page references

- The annual report is dated 25 June 2024 for the year ended 31 March 2024. Financial authorisation and audit are dated 29 May 2024; first public-release day was not established (physical pp. 2, 22, 41).
- The preserved file has 49 physical PDF pages, mostly spreads; printed numbering reaches 95 before the closing cover. The earlier catalogue count of 89 was incorrect (physical pp. 2, 48–49).
- FY2024 profile: 23 care homes, four retirement villages, 1,789 care beds and 148 villas. High-acuity beds account for 87% of the reported bed mix, not 87% of all older people (physical p. 4; printed pp. 6–7).
- Underlying EBITDA of $20.9 million and AFFO of $7.4 million are explicitly unaudited non-GAAP measures; the report directs readers to a separate May 2024 results presentation for reconciliation (physical p. 5; printed pp. 8–9).
- The audited statements show $3.599 million profit before tax and an $8.488 million loss after tax; tax expense was $12.087 million, including an $11.339 million deferred-tax adjustment (physical pp. 21, 32–33; printed pp. 41, 62–65).
- Reported resident satisfaction was 85%; employee NPS of 74% refers to Facility Managers. Response counts/rates and fieldwork dates are not established here (physical pp. 11–12; printed pp. 20–23).
- RConnect is described as supplying 150 personnel; Radius Home Support had provisional certification and its first private client, with broader service expansion planned. These are FY2024 company claims, not verified current funded access (physical p. 17; printed pp. 32–33).
- Reported operating cash flow of $14.100 million includes ORA resident-loan receipts and repayments; it is not a stand-alone cash measure of care-service profitability (physical p. 23; printed pp. 44–45).
- Baker Tilly Staples Rodway’s unmodified opinion is on printed financial pages 41–73; other annual-report information is outside its audit opinion/assurance conclusion (physical pp. 38–41; printed pp. 74–80).
- A separate voluntary climate statement was planned for July 2024; the report says assurance over its first GHG inventory was not obtained. Financial audit should not be presented as climate assurance (physical p. 25; printed pp. 48–49).

## Sections inspected

- Report date, contents and care/village profile (physical pp. 2–5; printed pp. 2–9)
- Chair/CEO and financial review (physical pp. 6–10; printed pp. 10–19)
- People, community activity, RConnect, home support and shop (physical pp. 11–18; printed pp. 20–35)
- Historical board and management (physical pp. 19–20; printed pp. 36–39)
- Financial statements and notes (physical pp. 21–37; printed pp. 40–73)
- Independent financial opinion (physical pp. 38–41; printed pp. 74–80)
- Governance, interests, shareholding and directory (physical pp. 41–49; printed pp. 81–95 and closing cover)

## Practical use

Use historical care mix, staffing-bureau and community-support reporting to develop provider-specific questions, and compare statutory results with the issuer’s adjusted metrics and clearly bounded assurance.

- Ask for the latest facility audit/certification, actual staffing and fees; a historic satisfaction percentage cannot establish individual care outcomes.
- Confirm current home-support availability, funding, assessment and referral arrangements directly with the provider and relevant agency.

## Research and operator comparisons

- One operator’s bed mix and survey measures do not establish national care access or comparative clinical quality.
- Private home-support expansion described in an annual report does not establish implementation, public funding or eligibility.
- Separate audited profit/loss and ORA cash movements from underlying EBITDA, AFFO and per-bed adjusted metrics.
- Staffing-bureau, certification and workforce claims need current facility-specific corroboration before operational planning.

## Evidence boundary

Commercial issuer primary evidence for the year ended 31 March 2024; all 49 physical spread pages inspected. Printed and physical numbering differ. Report date 25 June is established, but its first public-release day was not independently established. Financial authorisation/audit date 29 May is separate. The financial opinion excludes wider narrative; adjusted metrics are unaudited and their separate results-presentation reconciliation was not reviewed. Resident and Facility Manager survey denominators and response counts/rates are not disclosed here. Care certifications, staffing, contracts, roles, home-support plans and July 2024 climate publication plans remain historical claims, not current legal/service/clinical assurance. The separate climate statement and any later outcomes were not certified by this review. Current and legacy issuer PDF bytes both match the retained original; 2026 hosting directory is not publication. Preserve original filename, bytes and June 2026 access history. Review performed 10 October 2026; issuer now lists FY2026 editions. No investment recommendation or universal legal interpretation of the report’s ORA/accounting terms.

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.