Ryman Healthcare raises NZ$1bn, cuts debt amid heavy losses

Ryman Healthcare reported operating revenue of NZ$771.1m, up 12.1% from the previous year, with operating EBITDAF rising 207% to NZ$45.5m.

However, the company recorded a net loss of NZ$436.8m and an IFRS loss before tax and fair value movements of NZ$384.6m.

A NZ$1.0bn equity raise reduced net interest-bearing debt by NZ$840m to NZ$1.665bn, lowering gearing from 37.3% to 28.1%. The company targets releasing over NZ$500m cash from operations over the next 3-5 years.