Fse Lifestyle Services Limited · HKEX:331
Fse Lifestyle Services — FY2026 Earnings Presentation
33 slides from Fse Lifestyle Services's earnings presentation, September 2026
Slide 1: FY2026 Annual Results Analyst Presentation
FY2026 ANNUAL RESULTS Year Ended 30 June 2026 ANALYST PRESENTATION Sep 2026 |1
Slide 2: Disclaimer
Disclaimer This presentation is prepared by FSE Lifestyle Services Limited (the “Company”) and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to sell, or to solicit an offer to buy or form any basis of investment decision
Slide 3: Business Segments
Business Segments FSE Lifestyle Services Limited (Stock code: 331) 100% 100% 100% Property Asset Management Supporting Services E&M Engineering (Hygiene) (Technical Services) (Property & Facility (Engineering and Management, Car Park Consultancy) Management, Asset Management Advisory, and Sales & Le
Slide 4: Financial Results: Reported earnings
1. Financial Results 1.1 Reported earnings Reported earnings ↓8% ($35M) from p/y $453M to $418M ($’M) 490 ↑5% ↑1% ↓28% 453 4 3 (42) 440 418 390 340 Property Asset Supporting Services: E&M Engineering: Management: - Projects delay 290 - Higher profit - Awarded new contribution mainly from (Caroline H
Slide 5: Turnover
1.2 Turnover Turnover ↓3% ($226M) from p/y $8,160M to $7,934M FY2026 FY2025 % ($’M) ($’M) Changes 1. Property Asset Management 719 701 3% Supporting Services - 2. Hygiene 2,403 2,536 -5% 3. Insurance 159 142 12% 4. Technical Services 1,232 1,163 6% 5. Environment 249 185 35% 6. Security & Concierge
Slide 6: Core Earnings Composition
1.3 Core Earnings Composition 22% 53% Property Asset Management Supporting Services E&M Engineering 25% Note: If computed based on turnover, the proportion would be Supporting Services 61%, Property Asset Management 9% and E&M Engineering 30% | 6
Slide 7: Market Position – Frost & Sullivan Report
2. Market Position – Frost & Sullivan Report (Sep 2026) 6 out of 7 business units ranked Top 1 & 2 |7
Slide 8: Remaining Works
3. Remaining Works Strong pipeline to foster sustainable growth ($’M) 16,000 15,031M 14,532M ↓16% 14,000 1,502M 1,784M 1 12,000 5,429M ↓14% 10,000 6,323M 8,000 6,000 4,000 8,100M 6,425M ↑26% 2,000 0 Jun 2025 Jun 2025 Jun 2026 Jun 2026 Property Asset Management Supporting Services E&M Engineering |8
Slide 9: Dividend History
4. Dividend History Proven Track Record of Consistently Returning Cash to Shareholders Since Listing Total dividend per share since IPO $3.559, representing 129% of IPO price 8.8 8.1 7.8 7.4 ($) 0.5 6.7 6.7 0.450 0.450 0.458 0.438 0.396 0.4 0.365 0.161 0.213 0.241 0.214 0.3 0.185 0.176 0.2 0.289 0.2
Slide 10: 10-Year Achievements: EPS CAGR
5. 10-Year Achievements 10% CAGR EPS FY2017-26 (Reported) ($) 1.29 1.20 1.09 0.06 0.99 0.91 0.01 0.80 0.76 0.68 0.45 0.52 0.44 0.11 0.53 0.39 0.13 0.16 0.17 0.40 0.21 0.18 0.21 0.18 0.51 0.53 0.47 0.18 0.19 0.23 0.18 0.00 FY2017 FY2018 FY2020 FY2021 FY2024 FY2025 FY2026 Acquisition of Acquisition of
Slide 11: 9% CAGR Turnover FY2017-26
9% CAGR Turnover FY2017-26 (Reported) ($’M) 9,000 8,448 8,160 7,934 8,000 7,000 6,453 4,333 4,070 6,000 774 4,157 5,000 4,927 4,882 568 1,171 2,920 4,000 3,700 2,172 3,000 1,931 1,993 2,000 4,115 4,090 3,777 2,759 1,000 1,769 1,763 2,142 0 FY2017 FY2018 FY2020 FY2021 FY2024 FY2025 FY2026 Acquisition
Slide 12: 13% CAGR Profit FY2017-26
13% CAGR Profit FY2017-26 (Reported) ($’M) 600 587 501 500 26 453 2 418 340 400 244 211 310 202 300 48 237 73 200 174 57 78 93 86 92 82 231 240 100 216 82 87 103 87 0 FY2017 FY2018 FY2020 FY2021 FY2024 FY2025 FY2026 Acquisition of Acquisition of Acquisition of Waihong & NCL Urban & Kiu Lok Nova, HKI
Slide 13: Property Asset Management Turnover
6. Key Segment Highlights Property Asset Management Turnover $719M ↑3% (p/y $701M) ($’M) 696 708 701 719 700 664 600 353 351 351 365 500 334 400 300 200 343 357 330 350 354 100 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half | 13
Slide 14: Property Asset Management Core Earnings
Property Asset Management Core earnings $94M ↑4% (p/y $90M) (excluding grants) ($’M) 100 90 94 84 85 81 80 48 45 60 39 41 42 40 20 42 43 43 45 46 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half Note: The earnings excluded the unallocated corporate expenses and finance costs | 14
Slide 15: Over 350 property and facility management contracts
Property Asset Management FSE Property Asset Management Over 350 property and facility management contracts Tenders Submitted: $3,100M* Contracts awarded: $221M Over Remaining works: $1,502M 300 Extremely competitive market. property and facility K11 Masterpiece management Kai Tai Court Heightened c
Slide 16: Supporting Services Turnover
Supporting Services Turnover $4,826M ↑2% (p/y $4,737M) ($’M) 5,000 4,737 4,826 4,322 4,000 3,600 2,437 3,153 2,422 2,253 3,000 1,835 1,594 2,000 2,315 2,389 1,000 1,765 2,069 1,559 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half | 16
Slide 17: Supporting Services Core Earnings
Supporting Services Core earnings $231M ↑1% (p/y $229M) (excluding grants) ($’M) 250 231 229 210 200 192 181 111 112 150 87 114 81 100 105 118 119 50 100 96 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half Note: The earnings excluded the unallocated corporate expenses and finance costs |
Slide 18: Supporting Services Contracts and Remaining Works
Supporting Services Jun 2026 Jun 2026 Tender Contracts Remaining submitted* awarded Works ($M) ($’M) ($’M) Supporting Services Hygiene 11,656 1,716 2,585 Insurance 65 146 35 Technical Services 5,212 1,277 1,603 Environment 1,198 269 193 Security & Concierge 1,274 420 1,013 Total 19,405 3,828 5,429 *
Slide 19: Over 300 hygiene service contracts
Supporting Services (i) Hygiene - Waihong Over 300 hygiene service contracts Turnover: $2,403M (p/y: $2,536M) Highly competitive market with cut-throat margins. Shifting focus to grow both residential and Department of Health - commercial portfolios with higher Tung Chung Crescent Kowloon East & Wes
Slide 20: Insurance - Nova
Supporting Services (ii) Insurance - Nova HK and Beijing Nova - Over 9,000 insurance service contracts Turnover: $159M (p/y: $142M) With Beijing Nova, enhance cross-border services across the GBA through a tri-location Citybus Limited Macau University of Science licensing advantage and Tech Foundati
Slide 21: Over 2,500 technical service contracts
Supporting Services (iii) Technical Services - Far East/Turning Over 2,500 technical service contracts Turnover: $1,232M (p/y: $1,163M) Successfully winning 40 energy-efficiency contracts with contract sum $0.6B Shifting focus to government and small-to- HKYWCA HQ QE Hospital - EMSD Term Contract me
Slide 22: Over 1,300 environment service contracts
Supporting Services (iv) Environment – FSE Environmental Solutions Over 1,300 environment service contracts Turnover: $249M (p/y: $185M) Includes 3 business lines: Environment – Water/air treatment Smart – EV & IoT EV Infrastructure at Water Feature System Green – Landscape Lei King Wan at KTSP Cont
Slide 23: Over 450 security & concierge service contracts
Supporting Services (v) Security & Concierge – General Security/Perfect Event Over 450 security & concierge service contracts Turnover: $783M (p/y: $711M) Stable business supported by more regular guarding services and event services Perfect Event Services undertook 110 mega MTR Properties AsiaWorld
Slide 24: Security & Concierge Events
Supporting Services (v) Security & Concierge – General Security/Perfect Event HKJC Racecourses HKCEC AGM Events Music Concerts Hang Lung Properties WinterFest 2025 Exhibition Events Property Sale Events | 24
Slide 25: E&M Engineering Turnover
E&M Engineering Turnover $2,389M ↓12% (p/y $2,722M) ($’M) 4,000 3,459 3,462 3,118 3,000 2,722 1,869 1,746 2,389 1,670 2,000 1,297 1,355 1,000 1,590 1,716 1,448 1,425 1,034 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half | 25
Slide 26: E&M Engineering Core Earnings
E&M Engineering Core earnings $111M ↓27% (p/y $153M) (excluding grants) ($’M) 201 200 188 160 153 150 98 94 66 111 84 100 51 50 94 103 87 76 60 0 FY2022 FY2023 FY2024 FY2025 FY2026 First half Second half Note: The earnings excluded the unallocated corporate expenses and finance costs | 26
Slide 27: Over 190 E&M Engineering service contracts
E&M Engineering FSE Engineering/Majestic/Young’s Over 190 E&M Engineering service contracts Tenders Submitted: $20,597M* New and Renewed contracts: $3,475M Remaining works: $8,100M Most awarded tenders in FY2026 were Kwu Tung North Area 24 上海市黃浦區尚賢坊 contributed by HKHA, HKHS, AAHK and URA, represent
Slide 28: Capital Strength and Resilience
7. Capital Strength and Resilience Healthy liquidity profile to support growth and funding certainty As at 30 Jun 2026 Banking Facilities Cash and Banks Debt Maturity Profile $1,270M $722M, 87% (in HK$M) Jul-26 30 Total Total Oct 26* 319 $3,001M $829M * We have converted $219M into term loan maturin
Slide 29: Why Invest In FSE Lifestyle?
8. Why Invest In FSE Lifestyle? Continuous return to shareholders while positioning for growth Defensive and Resilient Financial Results and Contract Portfolio - Sustained core earnings $418m - New contract award $7.5b - Strong order book $23.5b - Healthy remaining works $15.0b High Dividend Yield,
Slide 30: Strong Governance & Northern Metropolis Opportunities
Strong Governance & Capital Management - High caliber management team - Continuous cost optimisation - Zero net gearing - Ample facilities and liquidity, low funding costs Ample Business Opportunities in Northern Metropolis (“NM”) Securing over $2.3B in NM E&M contracts (Tin Shui Wai, Kwu Tung, Sheu
Slide 31: Continuous M&A and Collaboration; Conclusion
Continuous M&A and Collaboration Pursuing organic growth opportunities while accelerating strategic M&A efforts with high-quality targets i. The Acquisition of BJ Nova was completed on 27 Dec 2024, active participant in PRC insurance industry. ii. Investing in a 27% interest in Townlife Holding Comp
Slide 32: Final Dividend FY2026 Schedule
9. Final Dividend FY2026 Schedule Closure of Financial Dividend per Ex-dividend Register of Dividend Period Share Date Ordinary Payment Date Shareholders 1 Jul 2025 $0.189 (Interim) on or about to 2 Dec 2026 4 to 7 Dec 2026 $0.176 (Final) 18 Dec 2026 30 Jun 2026 | 32
Slide 33: Q&A
SAASBSARRHReRRARSN—thrtinG SRS teRBE Ts (WAR [Al Al ESAT AR Q&A ‘p 2 + SARA) FSE LIFESTYLE SERVICES LIMITED www.fse.com.hk (BeLmmeMM: 331) PK Oe ODGBK ECE & SWMFE2 FRUSER OMNZSE BRIGWS BARNER SSRN ATZERS OMAN HMRI MERE | BSOELE
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