# Arvida Group Limited FY26 Result — Market Release, 28 May 2026 Two-page issuer results release linking unaudited underlying EBITDA, mixed care-suite/apartment completions and portfolio growth to the year ended March 2026; should be read with the full financial annual report, doc-0194. ## Exact source and preserved capture - Catalogue ID: doc-0195; issuer: Arvida Group Limited. - Preserved original: [2026 - Arvida - FY26 Media Release.pdf](/pdfs/2026%20-%20Arvida%20-%20FY26%20Media%20Release.pdf). - Physical pages: 2; bytes: 601,596. - SHA-256: `f3ef67e6bbf395414d98b6cffb679410f3358eb641d405cfd86bc3e34847190f`. - Original access label: June 2026; retained without inventing an exact capture day. - Primary evidence review: 10 October 2026, separate from reporting, approval, production and publication dates. - [Current primary source](https://api.nzx.com/public/announcement/473462/attachment/469523/473462-469523.pdf); [issuer announcement on NZX](https://www.nzx.com/announcements/473462). - Original bytes independently matched to the current NZX attachment and its published SHA-256 signature. Release date and exchange publication: 28 May 2026 at 08:32 NZST; reporting year ended 31 March. PDF production is 27 May. Correct physical count: two, replacing 11. The old announcements.nzx.com attachment path returned 404; the current attachment URL was discovered in the issuer announcement’s public payload rather than guessed. ## What the source says This two-page market release is dated 28 May 2026 and summarises Arvida’s financial year ended 31 March 2026. NZX’s publication payload records 08:32 NZST that day; the PDF’s 27 May production metadata is separate. The current exchange attachment matches the preserved June 2026 original byte for byte. It is a concise issuer announcement, not an annual report, care audit or independent sector study. The release reports rounded net profit after tax of $97 million, assets of $5.0 billion and equity of $1.7 billion. Its $133 million underlying EBITDA, described as 10% higher, is explicitly unaudited non-GAAP; the footnote describes adjustments rather than providing a numeric reconciliation. Gross ORA resales of $303 million are a transaction measure rather than care-service revenue. The $335 million increase in investment-property carrying value should not be mistaken for the fair-value gain alone. The company reports completion of 55 care suites and 53 premium apartments at Bethlehem Shores and describes high care occupancy without a numerical rate, site denominator or independent care-quality evidence. The profile reports 34 retirement villages and notes the November 2024 Stonepeak acquisition. These are dated company statements; its demand and housing-market outlook is forward-looking. Use the release to locate the original results and ask how care delivery, development and financial measures relate. The companion annual report, doc-0194, supplies exact financial figures and audit scope, including a decline in reported profit and operating cash flow despite the adjusted-EBITDA increase. This release does not verify current vacancies, contracts, clinical outcomes or future demand. ## Findings and original page references - Dated 28 May 2026, covering the financial year ended 31 March; exchange publication was 28 May at 08:32 NZST. PDF production metadata is 27 May. The original has two physical pages, not 11 (pp. 1–2; exchange payload). - The release’s rounded figures are net profit after tax $97 million, total assets $5.0 billion and equity $1.7 billion; exact audited figures and comparatives appear in doc-0194 (p. 1). - Underlying EBITDA of $133 million is reported as 10% higher and explicitly unaudited non-GAAP. The footnote lists exclusions/additions, without a numeric reconciliation in this release (p. 1). - Gross value of ORAs resold was $303 million; this is not the company’s care-service revenue or a measure of cash retained after refunds and costs (p. 1). - Investment-property carrying value rose by $335 million to $4.5 billion. That total movement includes development activity and should not be equated with fair-value revaluation alone (p. 1; doc-0194 p. 17). - Bethlehem Shores completions comprise 55 care suites and 53 premium apartments. The mixed 108 total must not be recorded as 108 care beds (p. 1). - The release describes high care occupancy without giving a numerical occupancy rate. It supplies no facility-level staffing or clinical outcome audit (p. 1). - The profile reports 34 retirement villages and describes Stonepeak-managed funds acquiring Arvida in November 2024; this is dated corporate context, not proof of present-day roles or future financial outcomes (p. 2). ## Sections inspected - Release date, headline figures and financial performance (p. 1) - Financial position, Bethlehem Shores completion and outlook (p. 1) - Unaudited underlying-EBITDA adjustment definition (p. 1 footnote) - Company profile, ownership context and historic contact (p. 2) ## Practical uses and questions Read this announcement alongside doc-0194 to compare headline company measures with the statutory statements, and to identify follow-up questions about actual care access and completed versus future capacity. - Confirm available care level, entry assessment, fees and current certification directly for the proposed facility. - Read the annual-report evidence boundary before relying on rounded promotional results or care-occupancy language. ## Implications for care research and operator comparisons - An issuer’s demographic-demand outlook is not independent evidence of national care need or a public commitment to provide beds. - Reported development completions do not establish individual admission eligibility, staffing or current facility vacancies. - Keep ORA transaction values, carrying-value changes, audited profit and adjusted EBITDA separate. - Use the full report and later delivery evidence before treating an earnings headline or optimistic outlook as an operating outcome. ## Evidence boundary Two-page commercial issuer announcement; both pages inspected and visually checked. It describes audited results but contains no financial statements or independent auditor opinion. Underlying EBITDA is explicitly unaudited; its numeric reconciliation is not supplied. Rounded financial values, mixed suites/apartments, gross ORA resales and investment-property movement have different meanings. No numerical occupancy rate, survey method, clinical outcome study or current service-access guarantee is established. Demographic demand and housing-market outlook are forecasts/company views. Exact current NZX attachment matches preserved bytes; the legacy announcements.nzx.com attachment path returned404, so the discovered current public API URL is used. Original filename, category, PDF and June 2026 access preserved; reviewed 10 October 2026. This is a distinct source from doc-0194, not a duplicate annual report. No investment recommendation or current legal interpretation. Original reporting remains historical even where dated 2026. Company wording about demand, service quality, staffing or future growth does not independently establish current access or outcomes. This review preserves separate scope for financial opinions, issuer releases, adjusted measures, completed facilities and forecast projects; it does not replicate valuation models or certify individual clinical/legal claims. Page text/hashes, issuer archive and exchange captures, attachment discovery metadata, byte comparisons and visually inspected page proofs are retained in `artifacts/research/operator-fy26-source-audit-2026-10-10.json`. Public company report retained for source reference. No open reuse licence established; copyright remains with issuer and other rights holders.