Sienna Reports Second Quarter 2025 Financial Results and Publishes 2025 Impact Report
MARKHAM, Ontario, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX:SIA) today announced its financial results for the three and six months ended June 30, 2025.
Highlights
Average Same Property Occupancy in retirement segment up 150 basis points ("bps") year-over-year to 92.1% in Q2 2025 and further increased to 93.1% in July 2025
Revenue, Proportionate Basis, excluding One-Time Items, increased by 17.4% to $253.6 million in Q2 2025
Same Property Net Operating Income ("NOI"), excluding One-Time Items, up 8.2% to $45.1 million in Q2 2025
Retirement Segment up 12.3% year-over-year in Q2 2025
Long-Term Care ("LTC") Segment up 4.8% year-over year in Q2 2025
Adjusted Funds from Operations ("AFFO"), excluding One-Time Items, increased by 21.0%, and on a per share decreased 4.0% in Q2 2025
Completed $315 million in acquisitions in Alberta and Ontario during Q2 2025
Entered into $60 million purchase agreement for Credit River Retirement Residence in the Greater Toronto Area
Completed $80 million Northern Heights LTC redevelopment project in North Bay, Ontario
Published 2025 Impact Report highlighting Sienna's broad impact on its stakeholders
Recognized by Time Magazine as one of Canada's Best Companies in 2025
"During the second quarter, we continued to execute on our strategic growth initiatives, both through growth within our existing operations as well as acquisitions and developments," said Nitin Jain, President and Chief Executive Officer. "Sienna's recent recognition by Time Magazine as one of Canada's Best Companies in 2025 reflects not only our track record of sustainable growth, but also the meaningful impact we're making as we continue to invest in the future of Canadian senior living and its stakeholders."
2025 Growth Momentum
Sienna focuses its growth strategy on newer properties predominantly located in large urban markets. The table below lists all acquisitions completed in Q2 2025 or currently under contract:
Property Name / Type
Year Built
Location
Number of Beds/ Suites
Purchase Price ($M) (1)
Q2 2025 (closed)
Alberta Portfolio / LTC
2022/2023
Calgary, Edmonton, Medicine Hat, Fort Saskatchewan
540
181.6
Wildpine / Retirement
2019
Ottawa
165
48.0
Hazeldean Gardens / Retirement
2018
Ottawa
172
85.3
Total Closed in Q2 2025
314.9
Q3 2025 (under contract)
Cawthra Gardens / LTC
2003
Greater Toronto Area
192
32.6
Credit River / Retirement
2016
Greater Toronto Area
133
60.2
Total Closed and Under Contract
407.7
1. Purchase price excludes working capital and other adjustments.
Financial and Operating Results
The following table represents the Key Performance Indicators adjusted for One-Time Items for the periods ended June 30:
Three months ended June 30,
Six months ended June 30,
Thousands of Canadian dollars, except occupancy, share and ratio data
2025
2024
Change
2025
2024
Change
OCCUPANCY
Retirement - Average Same Property
92.1
%
90.6
%
1.5
%
92.3
%
90.3
%
2.0
%
Retirement - Average total occupancy
90.2
%
87.0
%
3.2
%
90.1
%
86.8
%
3.3
%
LTC - Average total occupancy
98.5
%
98.5
%
—
%
98.3
%
98.0
%
0.3
%
FINANCIAL
Revenue, Proportionate Basis, excluding One-Time Items
253,605
216,081
37,524
495,451
431,810
63,641
Same Property NOI, excluding One-Time Items
45,065
41,660
3,405
87,611
80,857
6,754
NOI, excluding One-Time Items
50,626