Increase in Promisia Facility Valuations for FY25

MKTUPDTE

Wed, May 07 2025 12:00 pm

Promisia Healthcare Limited (NZX:PHL) is pleased to advise the market of an increase in the aggregate value of its facilities as at 31 March 2025.

Promisia engaged CBRE to undertake valuations on three of its facilities — Nelson Street, Aldwins House, and Ranfurly Manor — as at 31 March 2025 as part of its usual financial reporting processes. Those valuations have now been received, and the aggregate result is a valuation increase of approximately $3.7 million to $54.45 million for these three facilities. This represents a 7% increase from 31 March 2024.

The key drivers behind this increase are continued operational efficiencies across Ranfurly Manor and Aldwins House, including a noticeable year-on-year increase in occupancy at both facilities; and at Nelson Street, the approval and ongoing conversion of the dementia wing. This uplift reflects the strength of Promisia’s ownership model, capturing the direct benefits of operational improvements and capital value uplift.

For Promisia’s newly acquired Cromwell assets (Ripponburn and Golden View), valuations undertaken in October 2024 will continue to be used as the basis for the 31 March 2025 year-end reporting.

Promisia is currently completing its full year results, which will be released to market on or before 30 May 2025 and will contain further information.

ENDS

Authority for this announcement:
Francisco Rodriguez Ferrere – Chief Financial Officer, Promisia Healthcare Limited

For media or investor assistance, please contact:
Francisco Rodriguez Ferrere, Chief Financial Officer, Promisia Healthcare Limited
Phone: +64 21 245 1801 or email: [email protected]

About Promisia Healthcare
Promisia is a New Zealand based aged care and retirement living provider, with a focus on delivering quality personalised care. Our aim is to be the aged care provider of choice in our communities. Our facilities are located in well-established and well serviced towns and metropolitan areas. Our goal is to profitably grow our business in a sustainable manner, delivering quality care to our residents, peace of mind to their families and whanau, and excellent value to our villages, community and shareholders. Promisia is listed on the NZX (NZX: PHL). http://www.promisia.co.nz.