Infrastructure investment and strategic mergers have underpinned genU’s growing national impact in the past year despite a challenging operating environment.
Our 2022-23 results have been formally unveiled at genU’s Annual General Meeting today.
Delivering the report, Board Chair Michael Stanford said genU’s assets decreased in the past year with funds used to put in place new strategic projects and programs.
He said that while genU faced challenges like rising costs and reduced funding in the last 12 months, it had taken important steps to transform digitally and align its services around client needs.
“The strategic restructure and investment in new initiatives will help streamline operations and delivery nationally,” Mr Stanford said.
“The integration of Anglicare Tasmania and Li-Ve Tasmania into our organisation is expected to boost disability services and assets, while our review of core businesses will ensure ongoing growth and sustainability.
“Overall, genU is well positioned for the future as we complete our current strategic plan and develop our vision for 2025-2030.”
In the 2022-23 financial year genU assisted 65,500 people through our diverse support, training, employment and care services.
genU provided 1.08 million hours of disability service to 5,100 people in the past 12 months. We placed more than 4,800 candidates in temporary or permanent work and supported more than 15,000 job seekers facing barriers to employment. genU Training also upskilled or reskilled more than 9,600 learners nationally.
Our successful Business Enterprise programs continue to expand, employing 225 supported employees across Geelong, Colac and Rosebud. Strategic partnerships and new commercial contracts, including Ford Australia and Bulla Ice-cream, have fuelled the growth, which will see a second Business Solutions and Food Services site established in North Geelong.
In our community aged care business, genU is now servicing more than 750 Home Care Package clients and more than 330 Commonwealth Home Support Programme clients. While the growth has primarily been within Victoria, South Australia has seen the number of packages double in the past six months.
genU also reinvested $10.9 million into the community through capital infrastructure projects. This has included investments in our Barwarre Gardens and St Laurence Park retirement villages.
Total revenue reported for 2022-23 was $409.6 million, which was lower than last year’s $422.1 million. This was attributable to factors including a national decline in employment service caseloads, increased cost of service delivery, reduced government funding, and a tightening labour market.
While genU reported a deficit, the business has invested significantly in a multi-year digital strategy to enhance capability and service delivery, capital investment in its Barwarre Gardens and St Laurence Park retirement villages, and costs associated with genU’s Tasmanian business acquisitions, which will seed future growth in the State.
genU chief Executive Officer Clare Amies said the organisation’s expansion and growing impact required careful planning and investment to remain sustainable. She said that despite structural changes and operating challenges, the dedication of genU staff continues to produce positive outcomes across all areas of the business.
“We want to ensure our people have the tools and training they need to remain current, and the systems and supports that will enable them to be innovative and responsive to our clients’ needs,” Ms Amies said.
“In doing so we can be confident that the organisation is positioned to meet the evolving needs of current and future clients, the increasing funding body governance expectations, and the growth in our size and complexity.
“I thank all staff and supporters for helping genU deliver another successful year of important and innovative services that empower people to reach their full potential.”