Oceania Healthcare (OCA) AGM 2026 summary

Opening remarks and agenda

• Meeting convened in person and online, with safety and participation protocols outlined.

• Quorum confirmed and meeting formally opened; agenda included annual report, director elections, auditor remuneration, and shareholder proposals.

Board and executive committee updates

• Board succession included the re-election of Elizabeth Coutts, election of Sarah Ottrey, and retirement of Sally Evans after eight years.

• Board renewal highlighted as deliberate and skills-led, with staggered director rotation.

• Board committees streamlined to four, with risk oversight merged into Audit & Risk and sustainability elevated to the full Board.

• Executive team restructured for clearer portfolios and productivity, with one leader at every site.

• Sally Evans recognized for her eight years of service and leadership in care and sustainability.

Financial performance review

• Record pro forma underlying EBITDA up 20.2% to NZD 97.7 million; sales volumes up 16% to 603 settlements.

• Net debt reduced by $121 million to $507 million; gearing at 30%, with NZD 200 million headroom.

• Free cash flow from operations improved by 64% to $(15.0)m, with a goal to turn positive in FY 2027.

• Cost savings of $13.2 million delivered in FY26, annualizing to $20 million in FY27, targeting $30 million by FY 2027.

• Care earnings per occupied bed increased 40%, with occupancy at 95.5%.