Japara announces a 34% drop in EBITDA - $33M for FY20

Following on Estia’s announcement last week of a drop of 18% EBITDA at $79M, Japara yesterday reported a $33M EBITDA, which equates to $22 per bed per day.

Occupancy had dropped to 89% last week, with 4 of their 51 aged care homes being located in Melbourne sitting at 88%, pulling down the average for the rest of the country sitting at 91%. The average across the year and their 4,496 beds was 92.2%.

With an EBITDA of $33M, we calculate that Japara achieved an operating revenue of $7,954 per resident across the 12 months, or $22 per day before interest, tax, depreciation and amortisation.

Against this income and 4,496 residents the company provided over 6,000 staff, which accounted for 74% of their revenue, up from 69% in FY19.

The company responded to the COVID challenge financially by taking a non-cash impairment charge against goodwill of $290M, plus they closed one home in Wyong (NSW) at a cost of $2.4M, resulting in a statutory net loss of $292M.