Far East Consortium International Limited · HKEX:35
Far East Consortium International — FY2026 Earnings Presentation
54 slides from Far East Consortium International's earnings presentation, June 2026
Slide 1: FY2026 Annual Results
FY2026 Annual Results June 2026 Strength Beyond Cycle 堅韌篤行
Slide 2: Disclaimer
Disclaimer This document has been prepared by Far East Consortium International Limited (the “Company”) solely for information purposes. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to purchase or subscrib
Slide 3: Table of Contents
Table of Contents 1. FY2026 Annual Results Summary 2. Review of Operations 3. Prospects 4. Appendices 3
Slide 4: 1. FY2026 Annual Results Summary
1. FY2026 Annual Results Summary Collyhurst Village, Manchester 4
Slide 5: Key Theme of FY2026
Key Theme of FY2026 Milestone Delivery and Future Revenue Visibility Adjusted revenue(1)(2) stood at approx. HK$10.0 bn; and adjusted cash profit(1)(3) was approx. HK$109 mn Property development: Adjusted revenue stood at HK$6.4 bn • Total cumulative attr. presales and unbooked contracted sales amou
Slide 6: Key Theme of FY2026 (con't)
Key Theme of FY2026 (con’t) Continuous Improvement in Debt Level and Adjusted Net Gearing Ratio(1) • 3-Year Deleveraging Track Record: Total debts reduced by HK$8.8 bn since 31.3.2023 • Adjusted net gearing ratio(1) down to 63.0% as at 31.3.2026 vs 67.6% as at 31.3.2025 As at As at As at As at HK$ m
Slide 7: Post Year-End Strategic Disposals
Post Year-End Strategic Disposals • Contracted to unlock approx. HK$1.5 bn post year-end London office Hotel & Townhall The Ritz-Carlton, Perth The Ritz-Carlton, Melbourne 50% Stake 49.9% Stake Consideration GBP 12.3 mn Consideration GBP 47.2 mn Consideration AUD 100 mn Consideration AUD 58.2 mn Cas
Slide 8: Performance Underpinned by Fewer Project Completions and Prudent Impairment Losses
Performance Underpinned by Fewer Project Completions and Prudent Impairment Losses HK$ mn FY2026 FY2025 % change Revenue 6,606 9,572 -31.0% Adjusted revenue(1)(2) 10,009 10,705 -6.5% Adjusted gross profit (before depreciation and impairment)(1) 2,445 3,045 -19.7% Adjusted gross profit margin (before
Slide 9: Gross Profit Margin Remained Resilient Despite Decrease in Top Line
Gross Profit Margin Remained Resilient Despite Decrease in Top Line • Overall gross profit margin increased to 37.0% from 31.8% • Higher gross profit margin recorded from properties sale in Australia and the UK • Overall hotel performance in HK and Australia improved • Partially offset the drop in g
Slide 10: Disciplined Deleveraging and Continuous Focus on Balance Sheet Strength
Disciplined Deleveraging and Continuous Focus on Balance Sheet Strength • Net debt reduced by 7.9% to approx. HK$19.8 bn while the adjusted total equity(6) slightly dropped to approx. HK$31.4 bn • Adjusted net gearing ratio(6) reduced to 63.0% HK$ mn As at 31.3.2026 As at 31.3.2025 Due within 1 year
Slide 11: Short Term Debts Analysis and Liquidity Management
Short Term Debts Analysis and Liquidity Management • Healthy improvement on short term bank loan, dropped to approx. HK$10.1 bn As at 31.3.2026 As at 31.3.2025 Bank loans and notes due within 1 year Status HK$ mn HK$ mn Secured and expected to be repaid Corporate, hospitality and car park loans 5,34
Slide 12: Targeted Capital Management Initiatives Steadily Lower Debt and Gearing
Targeted Capital Management Initiatives Steadily Lower Debt and Gearing Accelerating the Completion of Property Development Projects • Cash inflow from FY26 newly completed developments, after construction loan repayment in full: Victoria Riverside (Tower B, C & Bromley Street) and Pavilia Forest •
Slide 13: Maintaining Financial Flexibility and Ample Access to Liquidity
Maintaining Financial Flexibility and Ample Access to Liquidity • Available existing liquidity of approx. HK$5.3 bn (cash position and undrawn facilities) exceeds the capex of approx. HK$1.1 bn • Total cumulative attr. presales and unbooked contracted sales of approx. HK$8.4 bn provides visibility o
Slide 14: 2. Review of Operations
2. Review of Operations Property Development 640 Bourke Street, Melbourne 14
Slide 15: Presales Offers Good Cash Flow Visibility
Presales Offers Good Cash Flow Visibility Notes: • Over HK$58.8 bn of development pipeline (1) The figures represent approximate saleable floor area, • Total cumulative attr. presales and unbooked contracted sales reached HK$8.4 bn which may vary subject to finalisation of development (1) (2) plans.
Slide 16: Recent and Upcoming Completion – Victoria Riverside, Manchester
Recent and Upcoming Completion – Victoria Riverside, Manchester Set just a stone’s throw from Manchester City Centre, Victoria Riverside is home to 634 new apartments and townhouses. Along Dantzic street will see new life breathed into the railway arches providing dedicated space for cafes, venues a
Slide 17: Recent Completion – Aspen at Consort Place, London
Recent Completion – Aspen at Consort Place, London Located in the Canary Wharf area in London, Cosort Place is a mixed-use development. The availability of local transport, underground, buses and Crossrail (starting 2020), make Consort Place easily accessible from various London prime locations. Rem
Slide 18: JV Revenue Contributor – The Pavilia Forest, Hong Kong
JV Revenue Contributor – The Pavilia Forest, Hong Kong The development is at the heart of the Hong Kong, providing residents with access to upgraded infrastructure. Its location offers a tranquil sea view for rest and relaxation away from the hustle and bustle of the city. Remaining Apartments Remai
Slide 19: JV Revenue Contributor – Queen's Wharf Residences (Tower 4), Brisbane
JV Revenue Contributor – Queen’s Wharf Residences (Tower 4), Brisbane With support from the Brisbane government, Queen’s Wharf Residences is a once-in-a-generation renewal project across Australia. The project occupies 10% of CBD footprint and offers a broad range of tourism, education, commercial,
Slide 20: JV Revenue Contributor – Dorsett Place Waterfront Subang, Malaysia
JV Revenue Contributor – Dorsett Place Waterfront Subang (Towers A and B), Malaysia Dorsett Place Waterfront Subang is located adjacent to the esteemed 5-star hotel Dorsett Grand Subang. Facing Subang Ria Recreational Lake, it is ideal for individuals seeking a peaceful retreat amid beautiful landsc
Slide 21: Inventory – West Side Place, Melbourne
Inventory – West Side Place, Melbourne These four towers make up of West Side Place, a major mixed-use development located next to our existing Upper West Side development. It is proudly positioned in Melbourne’s CBD grid and in immediate proximity to transportation links and premier shopping destin
Slide 22: Mount Arcadia, Hong Kong
Mount Arcadia, Hong Kong Mount Arcadia situated at the mid-level of the mountain. It is blessed with the breathtaking and ever-changing landscape vistas. Remaining Apartments & Houses Remaining SFA 8+4 22,000 sq.ft. (Total: 62+4) Remaining GDV Completion HK$556 mn(1) FY2022 (Total: HK$1.7 bn) Note:
Slide 23: Recent Launch – 640 Bourke Street, Melbourne
Recent Launch – 640 Bourke Street, Melbourne Located in the Melbourne CBD grid which is the next stage of our regeneration of Melbourne’s western CBD. The façade builds upon the rich tapestry of Melbourne city towers, equally referencing a modernist agenda against a colour palette derived from the h
Slide 24: Upcoming Launch – Sai Ying Pun, Hong Kong
Upcoming Launch – Sai Ying Pun, Hong Kong The Group acquired the development right for a land at Sai Ying Pun in Hong Kong through a tender conducted by URA. The development would enhance the overall accessibility and connectivity of the area and at the same time create synergy with the adjoining re
Slide 25: Upcoming Launch – Ho Chung, Hong Kong
Upcoming Launch – Ho Chung, Hong Kong Located in Ho Chung, Sai Kung, directly opposite the former ATV studio lot, the project enjoys a seafront position along Sai Kung's natural coastline. Sai Kung offers a beautiful, countryside-like environment reminiscent of overseas suburbs, while still providin
Slide 26: New Rental Development – Long-leased Residences, Shanghai
New Rental Development – Long-leased Residences, Shanghai Located adjacent to Shanghai University, the development is designed to serve students and young professionals by providing affordable, sustainable housing. To enhance land use efficiency in a rational, economical, and effective manner, while
Slide 27: 2. Review of Operations: Hotel Operations & Management
2. Review of Operations Hotel Operations & Management Dorsett Canary Wharf London, London 27
Slide 28: Performance Highlights
Hotel & Leisure Segment Results Performance Highlights FY2026 vs FY2025 Total Division Revenue Dorsett Group GOP HK$2,381M YoY Growth HK$734M YoY Growth from HK$2,077M from HK$580M Occupancy Average Room Rate RevPAR DORSETT GROUP DORSETT GROUP DORSETT GROUP 73.4% 72.9% HK$870 HK$785 HK$638 HK$572 PA
Slide 29: Hotel Operating Performance Analysis
Hotel Operating Performance Analysis Dorsett Group FY2026 FY2025 YoY change Hong Kong Occupancy rate 89.3% 84.1% +5.2ppts Average room rate (HK$) 761 704 8.1% RevPAR (HK$) 679 592 14.7% Malaysia Occupancy rate 60.7% 61.2% -0.5ppts Average room rate (MYR) 236 227 4.0% RevPAR (MYR) 144 139 3.6% Chines
Slide 30: Hotel Operating Performance Analysis
Hotel Operating Performance Analysis Dorsett Group(1) FY2026 FY2025 YoY change Occupancy rate 73.4% 72.9% +0.5ppts Average room rate (HK$) 870 785 10.8% RevPAR (HK$) 638 572 11.5% Revenue (HK$ mn) 2,218 1,918 15.6% Palasino Hotel Group FY2026 FY2025 YoY change Occupancy rate 52.4% 52.4% - Average ro
Slide 31: New Hotel Opening & New Brand: HubX Shanghai, Mainland China
New Hotel Opening & New Brand: HubX Shanghai, Mainland China • Dorsett’s new brand in Mainland China • Catering for growing youth market • With 24-hour book bar, guest laundry facilities, car charging points, café, robot delivery service • 440m to Shanghai University, and next to metro station Total
Slide 32: New Hotel Opening: Dorsett Canary Wharf, London
New Hotel Opening: Dorsett Canary Wharf, London, United Kingdom • Located in London's financial district: Canary Wharf financial hub • Blends modern luxury with heritage charm • Canary House Restaurant led by celebrity chef Paul Wong • Qi Bo Sky Bar with dual terraces • 15 mins from London City Airp
Slide 33: New Hotel Opening: Dao by Dorsett North London
New Hotel Opening: Dao by Dorsett North London, United Kingdom The second Dao by Dorsett in the UK • 68 serviced apartment units, designed with elements of original historic offices of the town council • Part of a restored, heritage Town Hall complex • Located at the heart of Crouch End, adjacent to
Slide 34: New Hotel Opening: Dao by Dorsett Puteri Cove, Malaysia
New Hotel Opening: Dao by Dorsett Puteri Cove, Malaysia • Apartment-style accommodation, ideal for families and business travellers • With swimming pool, gym, kids' play area, and meeting facilities • Located in Puteri Harbour, Johor • 10 mins away from second link to Singapore • 33km to Senai Inter
Slide 35: Hotels in Pipeline: NTU Executive Centre (Singapore)
Hotels in Pipeline: Nanyang Technological University’s Executive Centre (Singapore) • Located on Nanyang Technology University Campus • Modern guest rooms and suites • Versatile meeting facilities for seminars and conferences • Access to the new club house Total hotel rooms 170 Target Opening August
Slide 36: Hotels in Pipeline: Dorsett Perth (Australia)
Hotels in Pipeline: Dorsett Perth (Australia) • Located at Perth CBD, adjacent to RAC Arena • 1 minute from Perth public transport hub • 30 mins from Perth Airport Total Hotel rooms 264 Target Opening FY2027 FEC Owned 36
Slide 37: Hotels in Pipeline: Dorsett Brisbane (Australia)
Hotels in Pipeline: Dorsett Brisbane (Australia) • Located in Queen’s Wharf Brisbane • Pedestrian bridge to Southbank • 30 mins from Brisbane Airport Total Hotel rooms 372 FEC Owned 37
Slide 38: Hotels in Pipeline: Dorsett Fiji
Hotels in Pipeline: Dorsett Fiji • First Dorsett Hotel in South Pacific Region • Resort with meeting facilities Total Hotel rooms 216 Target Opening 2028 Management Contract 38
Slide 39: Value Enhancing Projects
Value Enhancing Projects Dorsett Changi City Singapore Dao by Dorsett AMTD Singapore • Located next to Singapore EXPO, Singapore’s largest • Located In the heart of Singapore’s vibrant CBD convention and exhibition venue, and near Singapore • Contemporary lifestyle aparthotel that offers a unique Ch
Slide 40: Pipeline Hotels to Add to Growth Momentum
Pipeline Hotels to Add to Growth Momentum As at 31.3.2026 As at 31.3.2027 9,803 10,791 rooms rooms Continental Europe 572 Chinese Mainland 1,335 Australia 1,431 988 UK 696 Singapore 972 Malaysia 1,557 Hong Kong 3,240 Rooms as at 31.3.2026 Rooms as at 31.3.2027 40
Slide 41: 2. Review of Operations: Car Park Operations
2. Review of Operations Car Park Operations Care Park, Victoria 41
Slide 42: Operational Efficiency Drive Amid Cost Challenges
Operational Efficiency Drive Amid Cost Challenges • Revenue at HK$666 mn, down 6.6% YoY 31.3.2026 31.3.2025 • Adjusted gross profit margin(2) dropped to 17.3%, primarily due to increase in property holding cost, including land tax No. of No. of No. of No. of Car Park Bays Car Park Bays • Completed t
Slide 43: 2. Review of Operations: Gaming Operations
2. Review of Operations Gaming Operations PALASINO Mikulov, Czech Republic 43
Slide 44: Palasino – Stable Contribution to Earnings
Palasino – Stable Contribution to Earnings Steady Growth in Business • Revenue reached HK$448 mn, increased 9.6% YoY • Adjusted gross profit margin at 39.7% • Driven by increases in table games hold percentage and slot volumes deriving from continual advertising campaigns and promotions • Palasino M
Slide 45: Queen's Wharf Brisbane Assets Swap
Queen’s Wharf Brisbane Assets Swap • Completed the DBC transaction on 31 Mar 2026 and recorded a gain of approx. HK$726 million • 50/50 clean restructured JV with CTFE CONSOLIDATED & TO OBTAIN TO EXIT & DIVEST Destination Brisbane Consortium (DBC) Destination Gold Coast Consortium (DGCC) • Included
Slide 46: Investment in QWB Project
Investment in QWB Project Queen’s Wharf Brisbane Project Details FEC holds a 50% stake as at 31.3.2026 The QWB Project consists of: • Three world-class hotels, namely The Star Grand Hotel, The Rosewood Brisbane, Dorsett Brisbane • A high-end casino with private gaming area • 99 years gaming license
Slide 47: 3. Prospects
3. Prospects Queen’s Wharf Brisbane, Brisbane 47
Slide 48: Outlook
Outlook Prudent Financial Management • Gearing ratio and leverage are expected to be further improved • Accelerating sale and completion of property development • Disposal of non-core assets to continue • Unlocking hotel revaluation surplus at the opportune time Visible Cashflow from both Property D
Slide 49: Thank You
Thank You Questions & Answers For more information, please contact: Investor Relations Department: ir@fecil.com.hk Or visit the Company’s website: www.fecil.com.hk FEC Official WeChat 49
Slide 50: 4. Appendices
4. Appendices 640 Bourke Street, Melbourne 50
Slide 51: Significant Hidden Value in FEC's Hotel Portfolio
Significant Hidden Value in FEC’s Hotel Portfolio Market Value Revaluation City / Country Description Rooms as at 31.03.2026 Surplus (HK$ mn) (HK$ mn) Hotels in operation Hong Kong 1 Dorsett Wanchai Hong Kong Amid Wanchai and Causeway Bay 454 3,660 3,465 2 Cosmo Hotel Hong Kong In Hong Kong's prime
Slide 52: Impact of Foreign Exchange Rates
Impact of Foreign Exchange Rates • Movement in foreign currencies impacted balance sheet position and profitability • Assuming exchange rates remained constant, net asset value would have been HK$988 mn lower as at 31.3.2026; while loss attributable to shareholders would have been HK$31.1 mn lower f
Slide 53: Key Sustainability Highlights
Key Sustainability Highlights • Achieved a 28% reduction in energy consumption at Silka Seaview following retrofit works Managing Our • Continued phase-out of single-use plastics, reducing the use of over 267,000 plastic bottles since 2025 Environmental Footprint • Aligned with updated HKEX ESG Code
Slide 54: Reputable Awards for IR and ESG Work
Reputable Awards for IR and ESG Work FY2026 The Institute of ESG & Benchmark’s 5th Edition of the ESG Achievement Awards 2023/2024 • Outstanding Sustainability Vision Awards Distinction • Outstanding ESG Awards Listed Company – Platinum Award • Outstanding Sustainable Dividend Award 20+ years Hong K
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