Vital announces FY25 Third Quarter Update

FY25 Third Quarter Update
Northwest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust (Vital), has today released Vital’s FY25 Third Quarter Update.

Highlights for the quarter
• Distributions of 2.4375cpu for Q3 (9.75 cpu annually)
• 2% Distribution reinvestment plan issue price discount introduced
• Market leading WALE of ~19 years maintained
• Diversified tenant base with no single tenant representing more than 19% of rent (no Healthscope exposure)
• No debt expiring until March 2027 following a debt term extension completed in April 2025
• NZ$11.5m Wakefield Hospital capacity expansion initiated at an accretive yield on cost of ~7.0%

FY25 Third Quarter Distribution
Vital is pleased to reconfirm FY25 distribution guidance of 9.75 cents per unit (cpu) and announce a third quarter distribution of 2.4375 cpu. Imputation credits of 0.6316 cpu are attached to this distribution. The record date is 5 June 2025 and payment will be made on 19 June 2025.
Vital's Distribution Reinvestment Plan (DRP) will remain available for investors, providing an option to reinvest distributions for additional Vital units, without paying brokerage, commissions or other transaction costs. DRP units will be priced in accordance with the DRP terms and conditions, less a 2% discount. Correctly completed DRP elections to elect to participate or change an existing participation instruction are required to be received by Vital’s Registrar by 5.00pm 6 June 2025.
Proceeds raised under the DRP will be applied to funding incremental capital works with key hospital operating partners such as the NZ$11.5m project at Wakefield Hospital that was announced today (refer below for further details).

Development Update
Vital currently has NZ$64.5m left to spend on its committed development pipeline of NZ$252.2m. This pipeline includes the NZ$11.5m expansion works at Wakefield Hospital. The Wakefield Hospital project is an incremental brownfield development expected to deliver investors compelling value add outcomes at one of Vital’s top performing properties. This continues Vital’s long standing partnership with Evolution Healthcare in the transformation of this property since its acquisition in 2017.
Refer to the attached FY25 Third Quarter update and the separate FY25 Third Quarter Distribution announcement for further details.

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ENQUIRIES
Chris Adams
Co-Head, ANZ, Northwest Healthcare Properties Management Limited
Tel +61 408 665 332, Email [email protected]
Michael Groth
Chief Financial Officer, Northwest Healthcare Properties Management Limited
Tel +61 409 936 104, Email [email protected]

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Announcement PDF