Resultant Growth in Revenue
Turnover & CAGR since 2013
Strong top line growth – only slowly benefiting the bottom line
Covid Recovery
▪ The Investment in upgrading and investing in new homes has led to a steady rise in gross assets at Greensleeves. ▪ At the same time, turnover has risen from £20.1m to £79.9m in 10 years (4x), supported by rising resident numbers and fees.
18.9%
90,000
20.0%
79,970
18.0%
80,000
15.6%
16.0%
15.4%
14.0%
16.0%
14.6%
65,155
70,000
13.7%
14.0%
60,000
54,168
53,662
11.9%
14.6%
12.0%
47,865
50,000
10.0%
39,604
▪ It has been accompanied by a rise in underlying EBITDA from £2.4m to £8.5m (3.5x) over the same period.
40,000
34,646
8.0%
20,137
28,806
30,000
23,986
6.0%
20,000
4.0%
▪ Extraordinaries and home openings have impacted the reported bottom line though they are now expected to decline significantly in 2024/25.
5.1%
10,000
2.0%
0
0.0%
2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Underlying EBITDA* (£000’s)
Gross Assets (Balance Sheet) Since 2014 (£000’s)
9,000
8,498
140,000
8,000
119,761 117,013
111,692
7,347
120,000
7,000
106,013
96,031
6,000
100,000
5,000
73,894
69,572
80,000
68,492
4,180
4,000
3,996
4,913
60,000
46,001
43,065
3,000
2,826
36,722
3,415
40,000
2,000
1,000
20,000
0
-
2017/18
2018/19
2019/20
2020/21
2021/22
2022/23
2023/24
12
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
*Adjusted for development drag and exceptional items
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