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Invesque Inc. Reports First Quarter 2024 Results

Invesque Inc. Reports First Quarter 2024 Results

Invesque Inc. 公佈2024年第一季度業績
PR Newswire ·  05/09 20:00

Divested $68 Million of Skilled Nursing Facilities During the Quarter,
Continuing to Focus on Seniors Housing Assets and Improving Balance Sheet

在本季度剝離了6800萬美元的熟練護理設施,
繼續關注老年人住房資產和改善資產負債表

TORONTO, May 9, 2024 /CNW/ - Invesque Inc. (TSX: IVQ.U) (TSX: IVQ) (the "Company") today reported its results for the three months ended March 31, 2024.

多倫多,2024年5月9日 /CNW/——Invesque Inc.(多倫多證券交易所股票代碼:IVQ.U)(多倫多證券交易所股票代碼:IVQ)(“公司”)今天公佈了截至2024年3月31日的三個月業績。

First Quarter and Subsequent Highlights

第一季度及後續亮點

As previously announced, completed the following sales during the first quarter of 2024:

正如先前宣佈的那樣,在2024年第一季度完成了以下銷售:

  • On January 31, 2024, sold a seniors housing community in South Carolina for gross proceeds of US$4.0 million.
  • On February 29, 2024, sold two skilled nursing facilities in Pennsylvania previously operated under a triple-net lease for gross proceeds of US$12.9 million.
  • On March 5, 2024, sold three skilled nursing facilities in Texas and Missouri previously operated under a triple-net lease for gross proceeds of US$55.5 million.
  • 2024年1月31日,出售了南卡羅來納州的一個老年人住房社區,總收益爲400萬美元。
  • 2024年2月29日,出售了賓夕法尼亞州的兩家熟練護理機構,此前以三網租賃方式運營,總收益爲1,290萬美元。
  • 2024年3月5日,出售了德克薩斯州和密蘇里州的三家專業護理機構,此前以三網租賃方式運營,總收益爲5,550萬美元。

As previously announced, on March 5, 2024, the Company executed an amendment to its credit agreement with KeyBank. Subject to the Company meeting specific conditions, including further repayment of the outstanding principal balance, the amendment provides for the reduction of several covenant requirements associated with the debt.

正如先前宣佈的那樣,該公司於2024年3月5日執行了與KeyBank的信貸協議修正案。該修正案規定減少與債務相關的幾項契約要求,前提是公司滿足特定條件,包括進一步償還未償還的本金餘額。

On April 15, 2024, IVQ Stock Holding Company, LLC ("ISHC") completed its previously announced acquisition of 16,982,283 common shares previously owned by affiliates of Tiptree, Inc. Following the transaction, Tiptree no longer owns or controls any shares in the Company.

2024年4月15日,IVQ股票控股有限責任公司(“ISHC”)完成了先前宣佈的對Tiptree, Inc.關聯公司以前擁有的16,982,283股普通股的收購。交易完成後,Tiptree不再擁有或控制該公司的任何股份。

Reported funds from operations ("FFO")1 of US$0.04 per common share for the three months ending March 31, 2024. The Company reported adjusted funds from operations ("AFFO")2 of US$0.04 per common share for the three months ending March 31, 2024.

申報的運營資金(“FFO”)1 截至2024年3月31日的三個月,每股普通股爲0.04美元。該公司報告了調整後的運營資金(“AFFO”)2 截至2024年3月31日的三個月,每股普通股爲0.04美元。

"In the past ninety days, the Company has made great strides on several fronts, including the execution of an important modification with our bank group, and a reduction of skilled nursing exposure. I look forward to working with Adlai and the team to further streamline and simplify our business." commented Quinn Haselhorst. Mr. Haselhorst will assume the Chief Financial Officer role for Invesque effective May 10, 2024.

“在過去的九十天中,公司在多個方面取得了長足的進步,包括對我們的銀行集團進行了重要的修改,以及減少了熟練護理人員的風險。我期待與阿德萊及其團隊合作,進一步精簡和簡化我們的業務。” 奎因·哈塞爾霍斯特評論道。哈塞爾霍斯特先生將自2024年5月10日起擔任Invesque的首席財務官一職。

______________________________

1 FFO is a measure used by management to evaluate operating performance. Please refer to the section "Non-IFRS Measures" in this press release for more information.

2 AFFO is a measure used by management to evaluate operating performance. Please refer to the section "Non-IFRS Measures" in this press release for more information.

______________________

1 FFO 是管理層用來評估運營績效的衡量標準。有關更多信息,請參閱本新聞稿中的 “非國際財務報告準則指標” 部分。

2 AFFO 是管理層用來評估運營績效的衡量標準。有關更多信息,請參閱本新聞稿中的 “非國際財務報告準則指標” 部分。

Financial Highlights

財務要聞


Three months ended March 31,

(in thousands of U.S dollars, except per share values)

2024


2023





Revenue

$ 43,642


$ 49,541

Net income (loss)

$ (6,244)


$ (15,598)

FFO (1)

$ 2,504


$ 6,903

FFO per share

$ 0.04


$ 0.12

AFFO (1)

$ 2,081


$ 6,571

AFFO per share

$ 0.04


$ 0.12


截至3月31日的三個月

(以千美元計,每股價值除外)

2024


2023





收入

43,642 美元


49,541 美元

淨收益(虧損)

美元 (6,244)


$ (15,598)

FFO (1)

2,504 美元


6,903 美元

每股 FFO

0.04 美元


0.12 美元

AFFO (1)

2,081 美元


6,571 美元

每股 AFFO

0.04 美元


0.12 美元

Balance Sheet and Portfolio Highlights

資產負債表和投資組合亮點

(in thousands of U.S. dollars, except number of properties)

March 31, 2024


December 31, 2023





Total assets

$749,343


$828,283

Number of properties3

58


66

Debt

$521,299


$588,245

(以千美元計,房產數量除外)

2024年3月31日


2023年12月31日





總資產

749,343 美元


828,283 美元

房產數量3

58


66

債務

521,299 美元


588,245 美元

______________________________

3 Excludes two medical office buildings and three seniors housing communities held for sale as of March 31, 2024. Excludes two medical office buildings and one seniors housing community held for sale as of December 31, 2023.

______________________

3 不包括截至2024年3月31日待售的兩棟醫療辦公樓和三個老年人住房社區。不包括截至2023年12月31日待售的兩棟醫療辦公樓和一棟老年人住房社區。

About Invesque
The Company is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy. The Company currently capitalizes on this opportunity by investing in a portfolio of income-generating predominantly private pay seniors housing communities. The Company's portfolio includes investments primarily in independent living, assisted living, and memory care, which are operated under long-term leases and joint venture arrangements with industry-leading operating partners. The Company's portfolio also includes investments in owner-occupied seniors housing properties in which the Company owns the real estate, the licensed operations, and provides management services through Commonwealth Senior Living, LLC, a Delaware limited liability company.

關於 Invesque
該公司是一家北美醫療保健房地產公司,其投資理念的重點是北美人口老齡化將繼續使用醫療保健服務在整體經濟中所佔的比例越來越大。該公司目前通過投資以私人付費爲主的老年人住房社區的投資組合,利用這一機會。該公司的投資組合主要包括對獨立生活、輔助生活和記憶護理的投資,這些投資是根據長期租賃和與行業領先的運營合作伙伴的合資協議運營的。該公司的投資組合還包括投資自住的老年人住房物業,公司擁有房地產、持牌業務,以及通過特拉華州有限責任公司聯邦老年生活有限責任公司提供管理服務。

Forward-Looking Information
This press release (this "Press Release") contains certain forward-looking information and/or statements ("forward-looking statements"), that reflect and are provided for the purpose of presenting information about management's current expectations and plans relating to the future, including, without limitation, the disposition by the Company of assets. Forward-looking information is typically identified by terms such as "anticipate," "believe," "continue," "expect," "expectations," "look," "may," "plan," "should," "will," and other similar expressions that do not relate solely to historical matters and suggest future outcomes or events. Readers should not place undue reliance on forward-looking statements and are cautioned that forward-looking statements may not be appropriate for other purposes. Forward-looking statements in this Press Release are based on current beliefs, expectations, and certain assumptions and are subject to significant known and unknown risks, uncertainties, and other factors that are beyond the Company's ability to predict or control and may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. These risks include the inability of the Company to divest certain assets on terms favorable to the Company or at all. The Company's actual results may differ because of various factors, including without limitation, the risks described in the Company's current annual information form and management's discussion and analysis, available on SEDAR+ at , which risks may be dependent on market factors and not entirely within the Company's control. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for various reasons. These forward-looking statements reflect current expectations as of the date of this Press Release and speak only as of the date of this Press Release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.

前瞻性信息
本新聞稿(本 “新聞稿”)包含某些前瞻性信息和/或陳述(“前瞻性陳述”),這些前瞻性信息和/或陳述(“前瞻性陳述”),其提供目的在於提供有關管理層當前預期和未來計劃的信息,包括但不限於公司對資產的處置。前瞻性信息通常由 “預期”、“相信”、“繼續”、“期望”、“期望”、“看”、“可能”、“計劃”、“應該”、“將” 等術語來識別,這些術語不僅與歷史問題有關,還暗示了未來的結果或事件。讀者不應過分依賴前瞻性陳述,並注意前瞻性陳述可能不適用於其他目的。本新聞稿中的前瞻性陳述基於當前的信念、預期和某些假設,受重大已知和未知風險、不確定性和其他因素的影響,這些因素超出了公司的預測或控制能力,可能導致實際結果或事件與此類陳述所表達或暗示的結果存在重大差異,因此,不應被視爲對未來業績或結果的保證,也不一定能準確表明此類結果是否會實現。這些風險包括公司無法以對公司有利的條件或根本無法剝離某些資產。公司的實際業績可能因各種因素而有所不同,包括但不限於公司當前年度信息表中描述的風險以及管理層的討論和分析(可在SEDAR+上查閱),這些風險可能取決於市場因素,並不完全在公司的控制範圍內。儘管管理層認爲這些前瞻性陳述中反映的預期有合理的依據,但由於各種原因,實際業績可能與前瞻性陳述所暗示的結果有所不同。這些前瞻性陳述反映了截至本新聞稿發佈之日的當前預期,僅代表截至本新聞稿發佈之日的預期。除非適用法律要求,否則公司不承擔任何公開更新或修改任何前瞻性陳述的義務。

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers are cautioned not to place undue reliance on any such forward-looking statements, which are given as of the date hereof, and not to use such forward-looking statements for anything other than the intended purpose. Further, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements contained in this Press Release are expressly qualified by this cautionary statement.

無法保證前瞻性陳述會被證明是準確的,因爲實際結果和結果可能與這些前瞻性陳述中表達的結果和結果存在重大差異。提醒讀者不要過分依賴截至本文發佈之日給出的任何此類前瞻性陳述,也不要將此類前瞻性陳述用於預期目的以外的任何用途。此外,除非適用法律明確要求,否則公司沒有義務公開更新或修改任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因。本新聞稿中包含的前瞻性陳述受本警示聲明的明確限制。

Non-IFRS Measures
The Company reports its financial results in accordance with International Financial Reporting Standard ("IFRS"). Included in this Press Release are certain non-IFRS financial measures as supplemental indicators used by the Company's management to track the Company's performance. These non-IFRS measures are NOI, FFO, and AFFO. The Company believes that these non-IFRS financial measures provide useful information to both the Company's management and investors in measuring the financial performance and financial condition of the Company. These measures do not have a standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. For a full definition of these measures, please refer to the Financial Measures section of the March 31, 2024, MD&A available on the Company's website and on SEDAR at , which information is incorporated herein by reference, and the full reconciliation of which is included below.

非國際財務報告準則指標
公司根據國際財務報告準則(“IFRS”)報告其財務業績。本新聞稿中包括某些非國際財務報告準則財務指標,作爲公司管理層用來追蹤公司業績的補充指標。這些非國際財務報告準則指標是NOI、FFO和AFFO。公司認爲,這些非國際財務報告準則財務指標爲公司管理層和投資者提供了衡量公司財務業績和財務狀況的有用信息。這些衡量標準不具有《國際財務報告準則》規定的標準化含義,因此可能無法與其他公司提出的類似衡量標準相提並論,也不應將其解釋爲根據國際財務報告準則確定的其他財務指標的替代方案。有關這些措施的完整定義,請參閱2024年3月31日的財務措施部分,MD&A可在公司網站和SEDAR上查閱,該信息以引用方式納入此處,其完整對賬情況如下所示。

FFO Table

FFO 表


Three months ended March 31,


2024

2023

Net loss from continuing operations for the period

$ (5,834)

$ (11,013)

Add/(deduct):



Change in fair value of investment properties

(4,092)

(164)

Property taxes accounted for under IFRIC 21

4,451

9,058

Depreciation and amortization expense

3,458

3,626

Amortization of tenant inducements

61

61

Accretion expense and amortization of non-cash adjustments to the 2016 Convertible Debentures

2,148

725

Change in fair value of financial instruments

381

2,937

Transaction Costs

276

Debt extinguishment costs

Loss on sale of property, plant and equipment

(8)

(12)

Impairment of property, plant and equipment

1,376

Deferred income tax recovery

(889)

Allowance for credit losses on loans and interest receivable

260

1,047

Change in non-controlling interest liability in respect of the above

2

(35)

Adjustments for equity accounted entities

1,302

824




FFO from continuing operations

$ 2,892

$ 7,054

FFO from discontinued operations

(388)

(151)




Total FFO

$ 2,504

$ 6,903

Weighted average shares, including fully vested deferred shares: Basic

56,658,322

56,746,431




Funds from operations per share

$ 0.04

$ 0.12


截至3月31日的三個月


2024

2023

該期間持續經營業務的淨虧損

美元 (5,834)

$ (11,013)

加/(扣除):



投資物業公允價值的變化

(4,092)

(164)

根據IFRIC 21覈算的財產稅

4,451

9,058

折舊和攤銷費用

3,458

3,626

租戶激勵措施的攤銷

61

61

2016年可轉換債券的增值費用和非現金調整攤銷

2,148

725

金融工具公允價值的變化

381

2,937

交易成本

276

債務清償成本

不動產、廠房和設備銷售損失

(8)

(12)

不動產、廠房和設備的減值

1,376

遞延所得稅的回收

(889)

貸款和應收利息信貸損失備抵金

260

1,047

與上述有關的非控股權益責任的變動

2

(35)

對權益記賬實體的調整

1,302

824




來自持續業務的 FFO

2,892 美元

7,054 美元

已終止業務的 FFO

(388)

(151)




總計 FFO

2,504 美元

6,903 美元

加權平均份額,包括完全歸屬的遞延股份:基本

56,658,322

56,746,431




每股運營資金

0.04 美元

0.12 美元

AFFO Table

AFFO 桌子


Three months ended March 31,


2024

2023

Cash flows provided by (used in) operating activities

$ 640

$ (4,482)

Change in non-cash working capital

3,514

9,197

Less: interest expense

(10,597)

(9,919)

Less: change in non-controlling interest liability

(124)

(67)

Plus: loss from joint ventures

(1,206)

(24)

Plus: interest paid

9,414

11,102

Less: interest received

(170)

(144)

Plus: debt extinguishment costs

(412)

(9)

Plus: realized loss on currency exchange

7

(5)

Plus: amortization of lease asset

36

(62)

Plus: current income tax

551

Plus: non-cash portion of non-controlling interest expense

14

(38)

Plus: adjustments for equity accounted entities

1,322

834

Plus: deferred share incentive plan compensation

15

340

Less: capital maintenance reserve

(372)

(703)




AFFO

$ 2,081

$ 6,571

Weighted average shares, including fully vested deferred shares: Basic

56,658,322

56,746,431




Funds from operations per share

$ 0.04

$ 0.12


截至3月31日的三個月


2024

2023

由(用於)經營活動提供的現金流

640 美元

美元 (4,482)

非現金營運資本的變化

3,514

9,197

減去:利息支出

(10,597)

(9,919)

減去:非控股權益負債的變動

(124)

(67)

另外:合資企業的損失

(1,206)

(24)

另外:已付利息

9,414

11,102

減去:收到的利息

(170)

(144)

另外:債務清償成本

(412)

(9)

另外:貨幣兌換的已實現虧損

7

(5)

另外:租賃資產的攤銷

36

(62)

另外:當期所得稅

551

另外:非控股利息支出的非現金部分

14

(38)

另外:對權益賬戶實體的調整

1,322

834

另外:遞延股票激勵計劃薪酬

15

340

減去:資本維護準備金

(372)

(703)




AFFO

2,081 美元

6,571 美元

加權平均份額,包括完全歸屬的遞延股份:基本

56,658,322

56,746,431




每股運營資金

0.04 美元

0.12 美元

SOURCE Invesque Inc.

來源 Invesque Inc.

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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