# Findings Report — Prompt 09: Arvida Group Watch

**Date:** 7 June 2026, 19:40 NZST
**Prompt:** #9 — Arvida Group Watch
**Category:** Provider Watch
**Searched:** arvida.co.nz, nzx.com, stonepeak.com, businessdesk.co.nz

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## Summary

Arvida FY26 Annual Report (year ended 31 March 2026) was released on **27 May 2026**. This report is **not yet in the KB** — the KB currently has FY24 and FY25 only. The FY26 report is the first full-year report under Stonepeak private ownership (acquisition completed November 2024). Findings are **HIGH VALUE** and warrant adding to the KB.

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## Key Findings

### 1. FY26 Annual Report Released (27 May 2026)

**Source:** https://www.arvida.co.nz/investors/results-and-reports (accessed 7 Jun 2026)
**Also on NZX:** https://www.nzx.com/announcements/473462 (accessed 7 Jun 2026)

**Financial Highlights (year ended 31 March 2026):**
| Metric | FY26 | FY25 | Change |
|--------|------|------|--------|
| Total assets | $5.0B | $4.7B | +$0.3B |
| Total equity | $1.72B | $1.62B | +$0.1B |
| Revenue (care + DMF + other) | $262.7M | $253.7M | +3.5% |
| Underlying EBITDA | $133M | ~$121M | +10% |
| Reported NPAT | $97.3M | $100.8M | -3.5% |
| Investment property | $4.5B | $4.15B | +$335M |
| Gross value of ORAs resold | $303M | ~$302M | flat |
| Interest-bearing loans | $1.11B | $998M | +$111M |
| Residents' loans | $1.91B | $1.81B | +$102M |

### 2. Operations at a Glance

| Metric                 | Value                             |
| ---------------------- | --------------------------------- |
| Retirement communities | 34 (down from 35 — 2 divestments) |
| Units and care beds    | ~5,700                            |
| Residents              | ~6,750                            |
| Team members           | ~2,900                            |
| Market share           | ~8% (4th largest operator in NZ)  |
| Net Promoter Score     | +42                               |
| Operating cash flow    | $108M                             |

### 3. Development Pipeline

| Project           | Location              | Units                                   | Status                         |
| ----------------- | --------------------- | --------------------------------------- | ------------------------------ |
| Bethlehem Shores  | Tauranga              | 55 care suites + 53 apartments          | **Completed** (FY26 milestone) |
| Lincoln Plains    | New community         | ~190 villas + 36 care suites            | Launched                       |
| Mayfair Village   | North Shore, Auckland | 57 apartments                           | Well progressed                |
| Waikanae Beach    | Kapiti Coast          | ~172 homes & care suites                | Enabling works started         |
| Pipeline capacity | Various               | 6,750+ future development opportunities | Established                    |

### 4. Portfolio Changes

- **Two divestments in Christchurch:** St Allisa and Mayfair (part of capital recycling strategy)
- **Ownership:** Stonepeak (private equity) since November 2024 — acquisition completed
- **Bond:** NZ$125M bond (ARV010) still listed on NZX Debt Market
- **Syndicated bank facility:** $1.1 billion framework

### 5. Interim Results (HY26 — 6 months to 30 Sep 2025)

**Source:** https://www.nzx.com/announcements/463618 (accessed 7 Jun 2026)

- Revenue: $131.9M (+5% YoY)
- Operating EBITDA: $43.7M (-1% YoY)
- Reported net loss: $8.2M (due to lower fair value gain vs prior period)
- Care occupancy: 94%
- Development: 200-220 new units expected by FY26 close

### 6. CEO Commentary

- CEO Jeremy Nicoll: "strong resale settlement volumes despite weak residential housing market"
- Chair & CEO: "performance improved into the latter part of the year, with stronger sales activity and operational momentum positioning the Group positively heading into FY27"
- New People Strategy delivering "consistent way of working across our care centres"

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## KB ACTION

### Findings File Created

- ✅ `17_Automated_Research\02_FINDINGS\2026-06-07_1940_Prompt09_ArvidaGroupWatch.md`

### New KB Files Created/Downloaded

- ✅ **`2026 - Arvida - FY26 Annual Report.pdf`** downloaded to `11_Market_and_Industry_Reports/` (1.6 MB)
- ✅ **`2026 - Arvida - FY26 Media Release.pdf`** downloaded to `11_Market_and_Industry_Reports/` (0.6 MB)

### Source Brief Needed

- **Create:** `2026 - Arvida - Source Brief - FY26 Annual Report.md` in `11_Market_and_Industry_Reports/`
- This should follow the same format as the other provider source briefs (Oceania, Radius, Ryman)

### Registry Updated

- ✅ Prompt 9 marked DONE in `01_PROMPT_REGISTRY.md`

### Cross-References

- Stonepeak acquisition: affects competitive dynamics in provider landscape (see 2026 Provider Comparison Matrix)
- Bethlehem Shores completion: relevant to Bay of Plenty ageing brief (09_Housing_and_Property)
- Divestments of St Allisa and Mayfair: relevant to Christchurch regional health context
- Bond ARV010 still listed on NZX: relevant for investor tracking

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## Source URLs Accessed

1. https://www.arvida.co.nz/investors/results-and-reports — FY26 Annual Report (7 Jun 2026)
2. https://www.nzx.com/announcements/473462 — FY26 Result full-year announcement (7 Jun 2026)
3. https://www.nzx.com/announcements/463618 — HY26 Interim Results (7 Jun 2026)
4. https://www.nzx.com/announcements/470615 — Director Appointment Apr 2026 (7 Jun 2026)
5. https://stonepeak.com/news/stonepeak-completes-acquisition-of-arvida — Acquisition completion (7 Jun 2026)
6. https://www.arvida.co.nz/investors — Arvida Investor Centre overview (7 Jun 2026)

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## Value Rating

🟠 **HIGH** — FY26 Annual Report is a new addition not yet in the KB. Contains comprehensive financials, development pipeline data, and first full-year report under Stonepeak ownership.