Estia Health Provides Operational and Financial Update

  • Jul 13, 2020 AEST
  • Team Kalkine

Estia Health Ltd (ASX:EHE) provided update on key operational and financial matters.

Non-Cash Impairment:

Due to COVID-19, the company expects to report a non-cash impairment charge, mainly on goodwill evolving from historical acquisitions in FY2020 ended 30 June 2020 in between A$124 million to A$148 million.

Occupancy:

The full year occupancy in mature homes was 93.2%. The new homes at Southport & Maroochydore ended the FY2020 with occupancy rates of 100% and 70.6% respectively.

Net Bank Debt:

Under the EHE’s A$330 million bank facility, net bank debt was A$99.4 million at 30 June 2020.

EHE confirmed that it has no instance of COVID-19 in the present times amongst its past or current residents at the. Moreover, strict protocols and testing is in place.

 


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