New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul><li>Oceania Healthcare (OCA) delivered results in line with lowered expectations, showing slight cost and net debt declines, but disappointing cash flow from existing operations.</li><li>Sales in general, and for The Helier in particular, have improved, with FY25 ORA sales being a record for OCA despite a soft housing market.</li><li>While the company delivered on major focus areas, several minor items fell short, leading to a reduction in earnings expectations.</li></ul>

Oceania Healthcare (OCA) delivered results in line with lowered expectations, showing slight cost and net debt declines, but disappointing cash flow from existing operations.Sales in general, and for The Helier in particular, have improved, with FY25 ORA sales being a record for OCA despite a soft housing market.While the company delivered on major focus areas, several minor items fell short, leading to a reduction in earnings expectations.

Oceania Healthcare FY25 Result The Painfully Slow Recovery Starts

<ul><li>Oceania Healthcare (OCA) is set to report its FY25 result on Thursday, 22 May 2025, with guidance being a key focus due to its recent trading update.</li><li>The market has been losing faith in OCA's care-focused business model, and the company must deliver on reducing head-office costs, reducing net debt, and planning to sell down its flagship Auckland village to regain confidence in FY26.</li><li>New management has highlighted NZ$10m-$15m of additional cost savings and expects improvement in care margins with operational improvements as a focus.</li></ul>

Oceania Healthcare (OCA) is set to report its FY25 result on Thursday, 22 May 2025, with guidance being a key focus due to its recent trading update.The market has been losing faith in OCA's care-focused business model, and the company must deliver on reducing head-office costs, reducing net debt, and planning to sell down its flagship Auckland village to regain confidence in FY26.New management has highlighted NZ$10m-$15m of additional cost savings and expects improvement in care margins with operational improvements as a focus.

Oceania Healthcare - FY25 Preview—Focus on the Future

<ul><li>Oceania Healthcare (OCA) has emphatically rebutted any suggestions that it needed more capital.</li><li>Sales remain soft but have not deteriorated; they are still growing year over year.</li><li>OCA has announced a cost-out program of NZ$10m-$15m, but will close its Nursing school, impacting EBITDA by ~6%.</li></ul>

Oceania Healthcare (OCA) has emphatically rebutted any suggestions that it needed more capital.Sales remain soft but have not deteriorated; they are still growing year over year.OCA has announced a cost-out program of NZ$10m-$15m, but will close its Nursing school, impacting EBITDA by ~6%.

<ul><li>Oceania Healthcare (OCA) released an unscheduled update to the market.</li><li>The key messages were: (1) soft but not deteriorating demand, (2) confidence in its capital structure, and (3) a reiteration of meaningful cost savings to come.</li><li>These messages are likely to alleviate concerns around its balance sheet that may have been priced into the stock, following Ryman Healthcare's (RYM's) capital raise. </li></ul>

Oceania Healthcare (OCA) released an unscheduled update to the market.The key messages were: (1) soft but not deteriorating demand, (2) confidence in its capital structure, and (3) a reiteration of meaningful cost savings to come.These messages are likely to alleviate concerns around its balance sheet that may have been priced into the stock, following Ryman Healthcare's (RYM's) capital raise. 

Oceania Healthcare - Worse than Hoped, Better than Feared

<ul><li>Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly.</li><li>OCA delivered yet another disappointing result, driven by higher costs, lower care fees and weak sales at The Helier. </li><li>OCA's development assets are shrinking, with no corresponding move in development debt. </li></ul>

Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly.OCA delivered yet another disappointing result, driven by higher costs, lower care fees and weak sales at The Helier. OCA's development assets are shrinking, with no corresponding move in development debt. 

Oceania Healthcare - 1H25 Result — Groundhog Day

Australia

Oceania Healthcare Limited provides healthcare services. The Company offers rest homes, hospitals, and independent living, as well as dementia, respite, and palliative care services. Oceania Healthcare serves patients in New Zealand.

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Oceania Healthcare (OCA AU)

Oceania Healthcare FY25 Result The Painfully Slow Recovery Starts

Oceania Healthcare (OCA) delivered results in line with lowered expectations, showing slight cost and net debt declines, but disappointing cash...

Forsyth Barr

Oceania Healthcare - FY25 Preview—Focus on the Future

Oceania Healthcare (OCA) is set to report its FY25 result on Thursday, 22 May 2025, with guidance being a key focus due to its recent trading update.

Forsyth Barr

Oceania Healthcare (OCA): Market update

Oceania Healthcare (OCA) has emphatically rebutted any suggestions that it needed more capital. Sales remain soft but have not deteriorated; they...

Forsyth Barr

Oceania Healthcare - Worse than Hoped, Better than Feared

The key messages were: (1) soft but not deteriorating demand, (2) confidence in its capital structure, and (3) a reiteration of meaningful cost...

Forsyth Barr

Oceania Healthcare - 1H25 Result — Groundhog Day

Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly. OCA delivered yet another...

Forsyth Barr

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