瑞银快照：莱曼医疗保健2025财年业绩

ab 29 May 2025 Global Research First Read Ryman Healthcare UBS SnapShot: FY25 Result ONE LINER Sales volumes and FCF ahead of UBSe. But, FY26E sales guidance below cons. KEY NUMBERS Care and village fees $571m (+12% YoY), vs. UBSe$ 559m. Deferred Management Fee $155m (+11% YoY), vs. UBSe$ 138m. Operating expenses (IFRS) $751m (+6% YoY) vs. UBSe$ 700m. FCF - $94m (vs. -$ 187m in FY24) vs. UBSe -$101m. No div. (UBSe 0.0cps). RESULT HIGHLIGHTS 1) Total build rate 950 vs. UBSe 937; 2) New units sold 416 (+7% YoY) ...