Ryman Healthcare Limited - FY26 Annual Report
Ryman Healthcare Limited
Provider claim
Community provider
2026-10-10
Next review: 2027-04-10
Ryman’s New Zealand and Victorian operations; FY26 year ended 31 March 2026
High confidence
verified
Primary-source research review
Evidence boundary: All 130 physical pages read and visually reviewed; selected tables/footnotes independently checked in preserved PNG proofs. Confidence concerns source identity and faithful figures, not independent validation of provider outcomes. Current issuer PDF is byte-identical to the preserved original; NZX’s 130-page attachment has different bytes and one page 2 caption hyphen difference in extracted text, so is not claimed byte-identical. Use visible annual-report printed pages, not duplicated/clipped accounting-text extraction numbering. Financial audit assurance covers statements/notes, not the other annual-report narrative. Non-GAAP measures need their definitions; FY25 comparisons are restated. Mature NZ/AU occupancy lacks a published subset denominator; beds/units and organisation-wide people are not current vacancies, staffed capacity or care FTE. NPS 47 and 78% team response are distinct measures with incomplete methods. Product, clinical and environmental narratives are company claims; forecasts and targets are not completed outcomes. June policy expectations are historical: Ministry report released 17 August 2026, not proof of funding implementation. Current individual contracts, later project openings, future dividends and legal/medical/financial advice are not verified by this report. Original PDF/name/category and June 2026 access preserved; 5 June publication, 31 March period and 10 October evidence review remain distinct.
Short Answer
The report brings together a corporate portfolio overview, strategy, resident experience, workforce and environmental initiatives, audited consolidated financial statements and remuneration/governance reporting. Its accounts report a statutory loss despite improved adjusted operating earnings and positive aggregate free cash flow; the existing-operations component of that cash flow remains negative. Restated FY25 values and the note 2 reconciliation are essential for comparisons.
Use the company’s dated care occupancy and portfolio figures to frame questions, with mature-site and cross-country boundaries retained. Organisation-wide team members are not clinical staffing FTE; NPS and participation scores lack detailed survey denominators. Testimonials, product roll-outs and training claims are commercial narrative rather than independently evaluated clinical evidence. Future construction, demographic assertions and dividend/funding expectations require separate subsequent verification.
Why it matters
Trace dated operator scale, care occupancy and capital strategy against financial accounts; test mature-site, cross-country, non-GAAP and survey denominators before comparison, and seek current site-level evidence for service access.
Key Points
- •FY26 covers 1 April 2025–31 March 2026. NZX released the annual report on 5 June 2026 at 08:30 NZST; financial statements were authorised on 25 May. The preserved PDF has 130 physical pages, not 206 (inside cover; printed p. 45; NZX announcement 473909).
- •FY26 overview reports 47 villages including two under construction: NZ 38/Australia 9; 9,959 retirement units: NZ 8,379/Australia 1,580; and 4,686 aged-care beds: NZ 3,927/Australia 759. These are company portfolio counts, not current certified/staffed capacity or vacancies (printed p. 3).
- •Overview reports 15,547 residents (NZ 13,069/Australia 2,478) and 7,778 team members (NZ 6,072/Australia 1,706). Team members span the organisation; no care-worker-only/FTE or staffing-ratio denominator is established by this headline (printed p. 3).
- •FY26 care occupancy averaged 96.0% in mature care facilities across NZ and Australia, versus 96.3% FY25. The headline does not state the mature-facility/bed denominator, weighting or maturity cutoff; it is not all-company or national occupancy and cannot establish current vacancies (printed pp. 6–7).
- •Adjusted operating revenue was NZ$849.064m and Operating EBITDAF NZ$88.299m versus NZ$771.131m/NZ$45.524m FY25. These company non-GAAP measures differ from statutory total revenue NZ$855.590m; reconciliation appears in note 2 (printed pp. 42,49,53–54).
- •Statutory FY26 net loss after tax was NZ$171.345m versus restated FY25 loss NZ$513.747m. FY26 included a NZ$104.304m negative investment-property fair-value movement; PBTF loss NZ$73.309m is separately defined as non-GAAP (printed pp. 42,49,54).
Full Summary & Notes
Ryman Healthcare Limited’s integrated annual report for 1 April 2025–31 March 2026, released on 5 June 2026. Covers its New Zealand and Victorian retirement living and aged-care portfolio, care-centred strategy, workforce initiatives, governance and audited financial statements with restated FY25 comparisons. Separates non-GAAP earnings and cash-flow measures from statutory losses. Company occupancy, headcounts and survey results have defined or incomplete denominators; they do not establish current vacancies, staffed capacity or independently verified clinical outcomes.
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Document Details & Metadata
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