FY23 Full-Year Results Presentation
Regis Healthcare Limited | FY23 Full-Year Results Presentation
One-Off / Non-Recurring Items
The following one-off / non-recurring items are excluded from underlying EBITDA:
$ millions (before tax)
FY23
FY22
COVID-19 and other Government grant income
32.5
3.2
COVID-19 outbreak related expenses
(16.5)
(27.8)
Gain on disposal of non-current assets
11.7
Fair value gain on investment property
7.2
5.9
Increase in employee entitlements (Fair Work Commission decision)1
(7.3)
Write-off of capital work in progress and other one-off write-downs
(12.8)
(2.9)
Professional services costs incurred in relation to potential employee
underpayments program
(3.1)
(2.2)
Other net losses²
(0.1)
Total
11.6
(23.8)
COVID-19 Outbreak Related Expenses ($m)
4.5
23.3
13.0
3.5
H1 FY22
H2 FY22
H1 FY23
H2 FY23
COVID-19 Outbreak
COVID-19 outbreak and other grant income of $32.5 million (FY22: $3.2 million)
COVID-19 grant income of $31.4 million, of which $23.2 million has been approved
(18 August 2023)
•
$22.2m recognised as income but not yet received from Government
.
Expect outstanding claims to be settled during FY24
COVID-19 outbreak related expenses of $16.5 million (H2 FY23: $3.5 million) included:
$14.8 million of incremental staff costs / $1.7 million of PPE and other related costs
Property sale
$11.7 million gain on disposal of non-current assets
Investment property
► $7.2 million revaluation gain on investment property - independent valuation
Employee entitlements
$7.3 million adjustment to employee entitlements due to Fair Work Commission changes
to aged care worker modern award wage rates
Capital write-offs
$11.5 million prior period development projects not expected to continue
$1.3 million reduction in carrying amount of operating investment properties
1Represents increase to employee entitlements expense as at 30 June 2023 required to reflect the Fair Work Commission's decision to increase
modern award wage rates by 15% from 30 June 2023
2Other net losses includes $1.3 million incurred for regulatory penalties (including external advisors and additional costs) relating to the Sanction
and Notice to Agree (NTA) applied to Port Coogee on 11 August 2022 by the Aged Care Quality and Safety Commission (ACQSC) and $0.8
million incurred in relation to other one-off items, offset by $2.0 million recognised as gain on lease modification due to the early termination of
Regis' head office lease in Armadale, Victoria, which resulted in the re-measurement of the existing lease asset and liability as at 30 June 2023
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