Far East Consortium International Limited · HKEX:35
Far East Consortium International — FY2025 Earnings Presentation
48 slides from Far East Consortium International's earnings presentation, June 2025
Slide 1: FY2025 Annual Results
FY2025 Annual Results June 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. FY2025 Annual Results Summary 2. Review of Operations 3. Prospects 4. Appendices 3
Slide 4: 1. FY2025 Annual Results Summary
1. FY2025 Annual Results Summary Aspen at Consort Place, London 4
Slide 5: Key Theme of FY2025
Key Theme of FY2025 Growth in Adjusted Revenue(1)(2) with Positive Adjusted Cash Profit(1)(3) • Adjusted revenue(1)(2) up 3.8% to HK$10.6 bn and adjusted cash profit(1)(3) was HK$266 mn • Property development: Adjusted revenue (1)(2) up 5.3% to approx. HK$7.2 bn vs HK$6.8 bn in FY2024 Key handovers:
Slide 6: Key Theme of FY2025 (cont'd)
Key Theme of FY2025 (cont’d) Profitability Mainly Impacted by Certain One-Off and Non-Cash Items • Net loss attr. to shareholders recorded at approx. HK$1,275 mn, impacted by: ➢ Finance costs of approx. HK$1,034 mn ➢ Impairment loss on properties for sale amounted to approx. HK$311 mn ➢ Share of imp
Slide 7: Despite Full Year Results Affected by Several Non-Operating Expense Factors
Despite Full Year Results Affected by Several Non-Operating Expense Factors HK$ mn FY2025 FY2024 % change Revenue 9,572 10,204 -6.2% Adjusted revenue(1)(2) 10,593 10,204 +3.8% Adjusted gross profit (before depreciation and impairment)(1) 3,045 3,152 -3.4% Adjusted gross profit margin (before depreci
Slide 8: Gross Profit Margin Remained Stable
Gross Profit Margin Remained Stable • Overall gross margin slightly increased to 31.8% from 30.9% • Car park business improvement in adjusted gross profit margin due to termination underperforming contracts FY2025 FY2024 Gross profit Gross profit Gross profit Gross profit Revenue (after depreciation
Slide 9: Managing Balance Sheet
Managing Balance Sheet • Tangible results in monetising non-core assets and business • Net debt reduced by HK$1.3 bn while the adjusted total equity(6) impacted by several impairment losses • Adjusted net gearing ratio(6) decreased to 67.6% and proforma adjusted net gearing ratio before impairment(7
Slide 10: Short Term Debts Analysis and Liquidity Management
Short Term Debts Analysis and Liquidity Management • Healthy improvement on short term bank loan, dropped approx. HK$1.1 bn or 8.5% vs 31 Mar 2024 As at 31.3.2025 As at 31.3.2024 Bank loans and notes due within 1 year Status HK$ mn HK$ mn Secured and expected to be repaid Corporate, hospitality and
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 Projects • Expedited the completion of several major developments, with a total expected attributable GDV of approx. HK$2.2 bn, including Perth Hub in Perth, Australia and Queen’s Wharf
Slide 12: Ample Access to Liquidity
Ample Access to Liquidity • Available existing liquidity of approximately HK$7.3 bn (cash position and undrawn facilities) far exceeds the capex of approximately HK$1.4 bn • Total cumulative attr. presales and unbooked contracted sales of approx. HK$8.9 bn provides visibility on future cash inflow s
Slide 13: 2. Review of Operations
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$61.0 bn of development pipeline • Total cumulative attr. presales and unbooked contracted sales reached HK$8.9 bn • Projects expected to complete in FY2026 with expected attr. GDV approx. HK$12.0 bn, of which approx. HK$5.1 bn was presold As at 31.
Slide 15: Aspen at Consort Place, London
Aspen at Consort Place, London (Recent Completion in phases) 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 loca
Slide 16: Hyll on Holland, Singapore
Hyll on Holland, Singapore Close to lifestyle destinations and recreational enclaves known to locals and expats, such as Orchard Road, Holland Village and Dempsey Hill. Apartments Expected attr. SFA 319 194,000 sq.ft. Expected attr. GDV Completion HK$3.0 bn FY2025 Notes: (1) The Group has 80% intere
Slide 17: Perth Hub, Perth
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 and high spec finishes
Slide 18: 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 19: Project Updates – Queen's Wharf Residences (Tower 5), Brisbane
Project Updates – Queen’s Wharf Residences (Tower 5), Brisbane Offered revised agreements with a price increment to original buyers in December 2024, with over 60% of buyers accepting the agreements with the revised pricing. Apartments Expected attr. SFA 847 350,000 sq.ft. Expected attr. GDV Expecte
Slide 20: 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 21: Mount Arcadia and Manor Parc, Hong Kong
Mount Arcadia and Manor Parc, Hong Kong Mount Arcadia situated at the mid-level of the mountain. It is blessed with the breathtaking and ever- changing landscape vistas. Manor Parc is located in Tong Yan San Tsuen, Yuen Long. Offering a privileged lifestyle with exceptional luxury, enjoy an elegant
Slide 22: Upcoming Completion in FY2026 – Victoria Riverside, Manchester
Upcoming Completion in FY2026 – 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 an
Slide 23: Upcoming Completion in FY2026 – The Pavilia Forest, Hong Kong
Upcoming Completion in FY2026 – 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. Apartments Expected
Slide 24: Recent Launch – Red Bank Riverside, Manchester
Recent Launch – Red Bank Riverside – Falcon and Kingfisher, Manchester Minutes from Central Manchester, the energy of the city meets the calming waterfront of the River Irk and new City River Park, where sustainable, modern homes will weave between acres of outdoor spaces and a vibrant high street.
Slide 25: 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 26: 2. Review of Operations: Hotel Operations & Management
2. Review of Operations Hotel Operations & Management Dorsett Kai Tak, Hong Kong 26
Slide 27: Hotel Operating Performance Analysis
Hotel Operating Performance Analysis Dorsett Group FY2025 FY2024 YoY change Notes: Hong Kong (1) Excludes Dao by Dorsett AMTD Occupancy rate 84.1% 88.1% -4.0ppts Singapore and Dorsett Changi City Average room rate (HK$) 704 730 -3.6% Singapore which are equity RevPAR (HK$) 592 643 -7.9% accounted. M
Slide 28: Recent Opening – Dorsett Kai Tak, Hong Kong
Recent Opening – Dorsett Kai Tak, Hong Kong Marina Escapade in a New Urban Hub • With stunning views of Victoria Harbour, the Dorsett flagship hotel is located next to Kai Tak Sports Park, just 15 mins from CBD • The hotel capitalises on MICE and major sports and cultural events taking place at the
Slide 29: Recent Opening – Dorsett by Agora Osaka Sakai
Recent Opening – Dorsett by Agora Osaka Sakai A Stylish Gateway to Culture and Comfort • Dorsett's first franchise hotel in Japan debuted on 25 Mar 2025 • A collaboration with the local government, supporting Sakai City's revitalisation plan • Most rooms offer seaside views of Sakai Old Port area •
Slide 30: Asset-Light Strategy – Dorsett Changi City Singapore
Asset-Light Strategy – Dorsett Changi City Singapore In the Heart of East Singapore Seamlessly Blending Business and Leisure • The third hotel in Singapore owned and managed by the Group • Conveniently located near Singapore Changi Airport, Changi City Point and Singapore Expo Showcased the Group’s
Slide 31: Asset-Light Strategy – Dorsett Fiji
Asset-Light Strategy – Dorsett Fiji Dorsett's Inaugural Presence in the South Pacific • Hotel management agreement has been signed • Plans are underway for the construction of a 216-key resort featuring convention and meeting spaces, along with extensive facilities • Target to open in FY2028 Hotel r
Slide 32: Upcoming Openings – UK
Upcoming Openings – UK Expanding Dorsett’s Presence with Two Distinctive London Hotels • Dorsett’s UK portfolio will be expanded with Dorsett Canary Wharf and Dao by Dorsett North London, offering distinctive stays for business and leisure travellers • Located in prime London districts—Canary Wharf’
Slide 33: Pipeline Hotels to Add to Growth Momentum
Pipeline Hotels to Add to Growth Momentum • 2 new hotels under construction in the UK with approx. 300 As at 31.3.2025 As at 31.3.2027 rooms in the next 12 months 9,423 10,716 • Our flagship hotel in Hong Kong, Dorsett Kai Tak, soft opened on 26 Sep 2024 rooms rooms • Dorsett’s first franchise hotel
Slide 34: 2. Review of Operations: Car Park Operations
2. Review of Operations Car Park Operations Care Park, Victoria 34
Slide 35: Efforts to Streamline Car Park Portfolio
Efforts to Streamline Car Park Portfolio with Reduction in Non-profitable Contracts • Strategic measure to phase out underperforming car parks, revenue decreased 2.6% YoY to approx. HK$713 mn 31.3.2025 31.3.2024 • Adjusted gross profit margin increased to 28.3% reflecting No. of No. of No. of No. of
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$409 mn, recorded a YoY increase of 1.6% • Currently holds a controlling stake of 71.62% in Palasino as at 31 Mar 2025 • Target to open new Mikulov casino in FY2026/1H FY2027 630 HK$1,420 Slot 57 24.3% As at Avg
Slide 38: Investment in QWB Project with first phase opening
Investment in QWB Project with first phase opening • Initial phase of the high-end casino, The Star Brisbane, opened to the public on 29 Aug 2024 • The Star Grand Hotel and gaming facilities with premium gaming rooms were unveiled with positive responses • Remaining F&B outlets, retail and dining sp
Slide 39: 3. Prospects
3. Prospects Queen’s Wharf Residences, Brisbane 39
Slide 40: Outlook
Outlook Prudent Financial Management • Gearing expected to improve further • Accelerating the completion of property development to lower debt level • Disposal of non-core assets to continue • Perpetual bond will be redeemed at opportune time as capital structure and gearing levels improve Visible C
Slide 41: Reputable Awards for IR and ESG Work
Reputable Awards for IR and ESG Work FY2025 FinanceAsia’s 2025 Asia’s Best Companies Poll The Institute of ESG & Benchmark’s ESG • Best Small-cap Company in Hong Kong (Gold) Achievement Awards 2023/2024 • Best Sustainable Vision Award – Merit China Financial Market’s China Financial • Outstanding ES
Slide 42: Thank You
Thank You Questions & Answers For more information, please contact: Investor Relations Department: ir@fecil.com.hk Or visit the Company’s website: www.fecil.com.hk FEC Official WeChat 42
Slide 43: 5. Appendices
5. Appendices Red Bank Riverside, Manchester 43
Slide 44: Significant Hidden Value in FEC's Hotel Portfolio
Significant Hidden Value in FEC’s Hotel Portfolio Market Value @ Revaluation City / Country Description Rooms 31.03.2025 Surplus (HK$ mn) (HK$ mn) Hotels in operation Hong Kong 1 Dorsett Wanchai Hong Kong Amid Wanchai and Causeway Bay 454 3,660 3,457 2 Cosmo Hotel Hong Kong In Hong Kong's prime busi
Slide 45: Details of Major Investment Properties
Details of Major Investment Properties Total GFA Total GFA Current Investment Properties (sq. ft.) Pipeline Investment Properties (sq. ft.) (1) FEC Building, Central, Hong Kong 3,000 Queen's Wharf Brisbane , Brisbane 198,200 FEC Building, Nathan Road, Hong Kong 38,700 Long-lease Residences, Baoshan
Slide 46: Impact of Foreign Exchange Rates
Impact of Foreign Exchange Rates • Movement in foreign currencies impacted balance sheet position • Assuming exchange rates remained constant, net asset value would have been HK$115 mn higher as at 31 Mar 2025; while loss attributable to shareholders would have been HK$17.8 mn higher for FY2025 Rate
Slide 47: 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 48: 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
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