Oceania Healthcare reports $37.6m EBITDA, assets grow

Oceania Healthcare has reported unaudited underlying EBITDA of $37.6 million for the six months ending September 30, 2023.

The company's total assets increased by 6% to $2.7 billion, with net assets reaching $1 billion.

Operating cashflow increased by 53% compared to the previous year.

Oceania also divested, closed, and exited leasehold interests at six care centers and villages.

The company's development margin decreased in the period, but it expects stronger margins as it sells new apartment developments.

Oceania has decided not to pay an interim dividend in order to invest in growth and portfolio transformation.