Far East Consortium International Limited · HKEX:35
Far East Consortium International — 1H FY2026 Earnings Presentation
48 slides from Far East Consortium International's earnings presentation, November 2025
Slide 1: 2025/2026 Interim Results
2025/2026 Interim Results November 2025 Steadfast in Efforts Striving Forward 迎風而上 堅毅前行
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 Interim Results Summary 2. Review of Operations 3. Prospects 4. Appendices 3
Slide 4: 1. FY2026 Interim Results Summary
1. FY2026 Interim Results Summary Aspen at Consort Place, London 4
Slide 5: Key Theme of 1H FY2026
Key Theme of 1H FY2026 Delivering Value Through Diversified Segments in a Challenging Landscape • Adjusted revenue(1)(2) was approx. HK$4.9 bn and adjusted cash profit(1)(3) was approx. HK$203 mn • Property development: Adjusted revenue (1)(2) was approx. HK$3.2 bn ‒ Benefitted from settlement of Vi
Slide 6: Key Theme of 1H FY2026 (cont'd)
Key Theme of 1H FY2026 (cont’d) Reduction in Net Debts and Improvement in Adjusted Net Gearing Ratio(1) • Repayment of project loans and unsecured loans with cashflows from disposal of non-core assets and settlement of certain projects • Adjusted net gearing ratio(1) decreased to 64.9% as at 30.09.2
Slide 7: Results Affected by Various Impairment Losses
Results Affected by Various Impairment Losses HK$ mn 1H FY2026 1H FY2025 % change Revenue 3,756 5,172 -27.4% Adjusted revenue(1)(2) 4,940 5,248 -5.9% Adjusted gross profit (before depreciation and impairment)(1) 1,307 1,615 -19.1% Adjusted gross profit margin (before depreciation and impairment)(1)
Slide 8: Gross Profit Margin Remained Stable
Gross Profit Margin Remained Stable • Overall gross profit margin increased to 34.8% from 31.2% • Higher gross profit margin recorded from properties sale in Australia and the UK • Partially offset the drop in gross profit margin in hotel operations and management and car park operations and facilit
Slide 9: Managing Balance Sheet
Managing Balance Sheet • Net debt reduced by HK$1.2 bn while the adjusted total equity(6) impacted by several impairment losses • Adjusted net gearing ratio(6) decreased to 64.9% and proforma adjusted net gearing ratio before impairment(7) was 63.0% HK$ mn As at 30.09.2025 As at 31.03.2025 (1) Due w
Slide 10: Short Term Debts Analysis and Liquidity Management
Short Term Debts Analysis and Liquidity Management • Healthy improvement on short term bank loan, dropped 7.5% to approx. HK$10.7 bn vs 11.6 bn as at 31.03.2025 As at 30.09.2025 As at 31.03.2025 Bank loans and notes due within 1 year Status HK$ mn HK$ mn Secured and expected to be repaid Corporate,
Slide 11: Strategic Initiatives to Reduce Debt Level and Improve Gearing
Strategic Initiatives to Reduce Debt Level and Improve Gearing Accelerating the Completion of Property Development Project • Expedited the completion of several major developments including Victoria Riverside in Manchester • Victoria Riverside (Tower B, Tower C and Bromley Street) are substantially
Slide 12: Ample Access to Liquidity
Ample Access to Liquidity • Available existing liquidity of approximately HK$5.8 bn (cash position and undrawn facilities) exceeds the capex of approximately HK$1.0 bn • Total cumulative attr. presales and unbooked contracted sales of approx. HK$9.3 bn provides visibility on future cash inflow strea
Slide 13: 2. Review of Operations: Property Development
2. Review of Operations Property Development Red Bank Riverside, Manchester 13
Slide 14: Presales Offers Good Cash Flow Visibility
Presales Offers Good Cash Flow Visibility • Over HK$61.8 bn of development pipeline • Total cumulative attr. presales and unbooked contracted sales reached HK$9.3 bn As at 30.09.2025 Cumulative presales Expected attr. SFA(1) Expected attr. GDV(2) Cumulative presale Location Expected Completion Proje
Slide 15: 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 16: Recent Completion – Perth Hub, Perth
Recent Completion – Perth Hub, Perth Create an inner-city home in a vibrant destination that links exclusive apartment living with entertainment, restaurants, bars, cafes, shops, art, culture, recreation, education and transport. Each spacious, light-filled apartment boasts outstanding inclusions an
Slide 17: Aspen at Consort Place, London
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. Remaining Apartments Re
Slide 18: West Side Place, Melbourne
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 destinations. Rema
Slide 19: 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 11 + 4 25,000 sq.ft. (Total: 62+4) Remaining GDV Completion HK$564 mn(1) FY2022 (Total: HK$1.8 bn) Not
Slide 20: 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 21: 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 22: 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 23: 2. Review of Operations: Hotel Operations & Management
2. Review of Operations Hotel Operations & Management Dorsett Kai Tak, Hong Kong 23
Slide 24: Performance Highlights
Performance Highlights Total Revenue: 9.5% yoy, from HK$977M to HK$1070M Occupancy: Dorsett Group: 0.2 percentage points yoy, from 72.7% to 72.9% Palasino Group: 0.4 percentage points yoy, from 58.4% to 58.8% Average Room Rate: Dorsett Group: 5.2% yoy, from HK$745 to HK$784 Palasino Group: 1.3% yoy,
Slide 25: Hotel Operating Performance Analysis
Hotel Operating Performance Analysis Dorsett Group 1H FY2026 1H FY2025 YoY change Notes: Hong Kong (1) Excludes Dao by Dorsett AMTD Occupancy rate 83.4% 80.8% +2.6ppts Singapore and Dorsett Changi City Average room rate (HK$) 685 645 6.2% Singapore which are equity RevPAR (HK$) 571 521 9.6% accounte
Slide 26: Hotels Portfolio Update
Hotels Portfolio Update 26
Slide 27: New Hotel Opening: Dorsett Canary Wharf, London, United Kingdom
New Hotel Opening: Dorsett Canary Wharf, London, United Kingdom • Soft-opened in September 2025 • 237 rooms and suites • In one of the world’s leading financial districts • Easy access to rest of London, West End and airports 27
Slide 28: New Hotel Opening/New Brand: HubX Shanghai, China
New Hotel Opening/New Brand: HubX Shanghai, China • Dorsett’s first limited-service hotel in Chinese Mainland • Opened in September 2025 • 115 rooms, 24-hour book bar • Adjacent to Shanghai University, easy access to Shanghai Metro line 7 28
Slide 29: New Hotel Opening: Dao by Dorsett North London, United Kingdom
New Hotel Opening: Dao by Dorsett North London, United Kingdom • 68 serviced apartment units • Part of the historic Town Hall complex 29
Slide 30: Management Contract (Asset Light)
Management Contract (Asset Light) Dorsett Changi City Singapore Dorsett by Agora Osaka Sakai • Rebranded and launched in September 2024 • Opened in March 2025 • 313 rooms • Dorsett’s first franchise hotel in Japan • Ongoing progressive renovations as part of • 321 rooms and suites asset enhancement
Slide 31: Management Contract (Asset Light)
Management Contract (Asset Light) Dorsett Fiji Nanyang Technological University’s Dao by Dorsett Puteri Cove Executive Centre (Singapore) (Malaysia) • Opening in 1H FY2027 • Opening in 1H FY2027 • Target Opening: 2H FY2026 • 216 rooms and suites • 170 rooms and suites • 150 rooms and suites • Resort
Slide 32: Hotels in the Pipeline
Hotels in the Pipeline Dorsett Perth (Australia) Dorsett Brisbane (Australia) • Target Opening: 1H-2H FY2027 • 372 rooms and suites • 264 rooms and suites 32
Slide 33: Pipeline Hotels to Add to Growth Momentum
Pipeline Hotels to Add to Growth Momentum As at 30.9.2025 As at 31.3.2027 9,659 10,647 rooms rooms Continental Europe 572 Chinese Mainland 1,297 Australia 1,431 988 UK 696 Singapore 866 Malaysia 1,557 Hong Kong 3,240 Rooms as at 30.9.2025 Rooms as at 31.3.2027 33
Slide 34: 2. Review of Operations: Car Park Operations
2. Review of Operations Car Park Operations Care Park, Victoria 34
Slide 35: Ongoing Car Park Portfolio Optimisation Amid Increasing Cost Pressures
Ongoing Car Park Portfolio Optimisation Amid Increasing Cost Pressures • Revenue decreased 9.7% YoY to approx. HK$343 mn • Adjusted gross profit margin decreased to 20.1% primarily driven 30.09.2025 31.03.2025 by the increase in property holding cost No. of No. of No. of No. of • Continuously to pha
Slide 36: 2. Review of Operations: Gaming Operations
2. Review of Operations Gaming Operations PALASINO Furth im Wald, Czech Republic 36
Slide 37: Palasino – Stable Contribution to Earnings
Palasino – Stable Contribution to Earnings Steady Growth in Business • Revenue reached HK$218 mn, recorded a YoY increase of 11.4% • Adjusted gross profit margin increased to 42.4% driven by increased visitation following Austria marketing campaign • Currently holds a controlling stake of 71.62% in
Slide 38: Investment in QWB Project
Investment in QWB Project • Initial phase of the high-end casino, The Star Brisbane, opened to the public on 29 Aug 2024 • The Star Grand Hotel and gaming facilities with premium gaming rooms were unveiled with positive responses • Remaining F&B outlets, retail and dining spaces and the other two ho
Slide 39: 3. Prospects
3. Prospects Queen’s Wharf Residences, Brisbane 39
Slide 40: Outlook
Outlook Prudent Financial Management • Gearing ratio and leverage are expected to be further improved • Accelerating the completion of property development • Disposal of non-core assets to continue • Unlocking hotel revaluation surplus at the opportune time Visible Cashflow from both Property Develo
Slide 41: Thank You
Thank You Questions & Answers For more information, please contact: Investor Relations Department: ir@fecil.com.hk Or visit the Company’s website: www.fecil.com.hk FEC Official WeChat 41
Slide 42: 5. Appendices
5. Appendices Red Bank Riverside, Manchester 42
Slide 43: Significant Hidden Value in FEC's Hotel Portfolio
Significant Hidden Value in FEC’s Hotel Portfolio Market Value @ Revaluation City / Country Description Rooms 31.03.2025 (1) Surplus Note: (HK$ mn) (HK$ mn) (1) Based on the independent valuations Hotels in operation carried out as at 31 Mar 2025, except Hong Kong for (i) Lushan Resort, HubX Shangha
Slide 44: Details of Major Investment Properties
Details of Major Investment Properties Total GFA Total GFA Current Investment Properties (sq. ft.) Pipeline Investment Properties (sq. ft.) FEC Building, Central, Hong Kong 3,000 Queen's Wharf Brisbane (1), Brisbane 96,400 FEC Building, Nathan Road, Hong Kong 38,700 Long-lease Residences, Baoshan Di
Slide 45: 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$572 mn lower as at 30 Sep 2025; while loss attributable to shareholders would have been HK$9.2 mn higher
Slide 46: Key Sustainability Highlights
Key Sustainability Highlights • Undertook an updated climate-related risks and opportunities assessment aligned with the Taskforce on Climate-related • Established the Dorsett Scholar Financial Disclosure Association Managing Our Environmental • Digitised data collection process by using an • Signed
Slide 47: Enhance ESG Efforts to Create Long-Term Value
Enhance ESG Efforts to Create Long-Term Value Strengthen Governance to Improve ESG Performance Formed key internal committees within the ESG Working Group to support the ESG Steering Committee Create strategic ESG Direction for the Group Developed KPI’s with Executing the sustainability Refining Gro
Slide 48: Reputable Awards for IR and ESG Work
Reputable Awards for IR and ESG Work 1H FY2026 Hong Kong Investor Relations Association FinanceAsia’s 2025 Asia’s Best 11th IR Awards 2025 Companies Poll • Best ESG (E) • Best Small-cap Company in Hong Kong (Gold) • Best Investor Meeting • Best Annual Report FY2025 China Financial Market’s China Fin
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