Palasino Holdings Limited 百樂皇宮控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2536） 截至二零二五年三月三十一日止財政年度 業績公告 業 績 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 百樂皇宮控股有限公司（「本 公 司」）董事會（「董 事 會」）欣然宣佈本公司及其附屬 公 司（統 稱「本 集 團」）截至二零二五年三月三十一日止財政年度（「二 零 二 五 年 財 年」）的 經 審 核 綜 合 業 績，連 同 截 至 二 零 二 四 年 三 月 三 十 一 日 止 財 政 年 度（「二 零 二 四 年 財 年」）的 比 較 數 字 如 下： 業務概覽 – 1 – • 本 集 團 是 於 中 歐 營 運 的 集 團，集 博 彩 及 休 閒 於 一 身，在 高 級 管 理 層 的 領 導 下 於 捷 克 共 和 國、德 ...

Revenue and Profitability - The group's revenue increased from approximately HKD 278 million in the first half of FY2024 to approximately HKD 282 million in the first half of FY2025, representing a growth of about HKD 4 million or 1%[8] - The total net profit for the group was approximately HKD 16 million in the first half of FY2025, compared to HKD 17 million in the same period of FY2024[8] - The overall net revenue remained stable at approximately HKD 210 million, showing no significant change compared to the previous year[15] - The company reported a net profit for the period of HKD 15,349 thousand, contributing to retained earnings of HKD 417,455 thousand as of September 30, 2024[114] - The company reported a basic earnings per share of HKD 1.95, down from HKD 2.15 in the previous year[109] Gaming Revenue - Gaming revenue from slot machines increased by approximately HKD 2 million or 1%, totaling HKD 196 million in the first half of FY2025, compared to HKD 194 million in the same period of FY2024[15] - The total gaming revenue for the first half of fiscal year 2025 was HKD 210,233 thousand, slightly up from HKD 209,213 thousand in the first half of fiscal year 2024[21] - The gaming tax for the first half of FY2025 was approximately HKD 72 million, an increase of about HKD 5 million or 7% from HKD 67 million in the first half of FY2024[19] - The increase in revenue was primarily driven by an increase in the number of slot machines and the number of players[12] - The total revenue for the gaming segment was HKD 196,118,000 for the six months ended September 30, 2024, compared to HKD 194,279,000 in 2023, reflecting a slight increase of 0.9%[122] Hotel and Related Services - Hotel, restaurant, and related services revenue rose by approximately HKD 2 million or 2%, reaching HKD 86 million in the first half of FY2025, compared to HKD 84 million in the same period of FY2024[16] - The total hotel and related services revenue for the first half of fiscal year 2025 was HKD 85,544 thousand, a 1.8% increase from HKD 84,008 thousand in the same period of fiscal year 2024[24] - The average room revenue increased by 4% from HKD 703 to HKD 731 in the first half of fiscal year 2025[28] - The hotel, restaurant, leasing, and related services revenue reached HKD 85,975,000, up 2.3% from HKD 84,008,000 in the previous year[126] Operating Expenses - Operating expenses remained stable at approximately HKD 195 million, with a slight decrease of HKD 0.2 million or 0% compared to the previous period[33] - Other operating expenses increased by HKD 13 million or 29% to HKD 60 million, primarily due to increased online gaming expenses and higher utility costs[36] - Employee benefits expenses slightly decreased by HKD 1 million or 1% to HKD 95 million in the first half of FY2025[35] - The company incurred other operating expenses of HKD 71,405,000, which is an increase from HKD 56,656,000 in the prior year[109] Capital and Equity - Total equity attributable to owners increased by 9% to HKD 550 million as of September 30, 2024[40] - The company's net asset value increased to HKD 550,209 thousand as of September 30, 2024, up from HKD 502,854 thousand, marking a growth of 9.4%[112] - The company’s total cost of properties as of September 30, 2024, was HKD 771,616,000, compared to HKD 733,414,000 as of March 31, 2024[141] Cash Flow and Investments - Cash and bank balances totaled approximately HKD 296 million as of September 30, 2024, down from HKD 305 million[40] - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 3,164,000, a significant decrease from HKD 20,877,000 in the same period of 2023, representing a decline of approximately 84.8%[117] - The net cash used in investing activities was HKD 24,390,000 for the six months ended September 30, 2024, compared to HKD 19,643,000 in 2023, indicating an increase of 24.4%[117] Shareholder Information - As of September 30, 2024, Dan Sri Dato' Chiu Tak Cheong holds a total of 1,540,570,310 shares in FEC, representing approximately 54.68% of the issued share capital[1] - Major shareholder Ample Bonus holds 581,318,000 shares, representing 72.07% of the issued share capital[89] - The stock option plan adopted on March 4, 2024, is valid for ten years from the listing date, with no options granted, agreed to be granted, exercised, canceled, or expired as of September 30, 2024[3] Future Outlook - The company anticipates a challenging macroeconomic environment for FY2025/2026, with inflation and interest rates showing positive trends, but geopolitical tensions and increased gaming tax rates may impact profitability[56] - The company plans to expand its gaming area and increase the number of slot machines to enhance revenue sources, with ongoing preparations for a new casino in Mikulov, Czech Republic, in the first half of FY2026[56] Corporate Governance - The company has adopted the corporate governance code as a benchmark for its governance practices[97] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[98]

Financial Performance - For the six months ended September 30, 2024, the group recorded a revenue increase of 1%, primarily driven by a 1% rise in slot machine business revenue[7]. - The group’s profit attributable to owners for the six months ended September 30, 2024, was approximately HKD 16 million, compared to HKD 15 million for the same period in 2023[7]. - Adjusted EBITDA for the six months ended September 30, 2024, was approximately HKD 43 million, a decrease of about HKD 9 million compared to HKD 52 million for the same period in 2023[9]. - The net profit attributable to the company's owners for the six months was HKD 15,693,000, compared to HKD 17,054,000 in the prior year, showing a decrease of 8.0%[18]. - Basic earnings per share decreased to HKD 1.95 from HKD 2.15, reflecting a decline of 9.3%[18]. - The total comprehensive income for the period was HKD 24,777,000, a significant increase from a loss of HKD 2,362,000 in the same period last year[18]. - Adjusted net profit for the first half of fiscal year 2025 is approximately HKD 15,140, down from HKD 31,506 in the first half of fiscal year 2024, representing a decrease of about 52%[134]. - Adjusted EBITDA for the first half of fiscal year 2025 is approximately HKD 30,387, compared to HKD 52,203 in the first half of fiscal year 2024, indicating a decline of around 42%[135]. Revenue and Business Segments - Total revenue from gaming, hotel, dining, leasing, and related services reached HKD 282,093,000, up from HKD 278,287,000, indicating an increase of 1.0% year-over-year[16]. - The group reported gaming revenue of HKD 196,118,000 for the six months ended September 30, 2024, compared to HKD 194,279,000 for the same period in 2023, reflecting a growth of 0.9%[16]. - The hotel, restaurant, and leasing business contributed HKD 85,975,000 in revenue, compared to HKD 84,008,000 in the previous year, marking a growth of 2.2%[40]. - Revenue from external customers in the Czech Republic was HKD 219,861,000, up from HKD 217,992,000, reflecting an increase of 0.9%[38]. - Revenue from external customers in Germany increased to HKD 39,619,000 from HKD 38,758,000, a growth of 2.2%[38]. - Revenue from external customers in Austria rose to HKD 22,613,000 from HKD 21,537,000, representing a growth of 5.0%[38]. Assets and Equity - Total equity increased from approximately HKD 503 million as of March 31, 2024, to approximately HKD 550 million as of September 30, 2024[10]. - Non-current assets increased to HKD 441,923,000 as of September 30, 2024, compared to HKD 411,329,000 as of March 31, 2024, marking a growth of 7.4%[20]. - The group's total assets less current liabilities amounted to HKD 672,190,000, up from HKD 626,651,000, indicating an increase of 7.3%[24]. - Total assets rose from approximately HKD 739 million on March 31, 2024, to approximately HKD 763 million on September 30, 2024[106]. Expenses and Taxation - The group incurred gaming tax expenses of HKD 71,727,000, which is an increase from HKD 67,351,000 in the previous year, representing a rise of 5.3%[16]. - The total gaming tax for the first half of FY2025 was approximately HKD 72 million, an increase of 7% from HKD 67 million in FY2024, reflecting a tax rate increase from 23% to 30% for table games[80]. - The group incurred a total tax expense of HKD 6,173 million, down from HKD 9,844 million in the previous year, reflecting a decrease of approximately 37%[50]. Operational Developments - The group completed the acquisition of the Mikulov property in the Czech Republic in February 2024, which is being prepared for conversion into a casino[5]. - The group is actively seeking similar opportunities for physical entertainment venues in other jurisdictions in Europe and Asia to expand its business[6]. - The group is considering potential acquisitions and partnerships to further penetrate the Polish gaming market following the acquisition of Palasino Poland in July 2023[5]. - The group plans to open its fourth entertainment venue in the Czech Republic in the first half of fiscal year 2026 and seeks new opportunities through acquisitions or bidding for new gaming licenses[131]. Employee and Operational Costs - The company employed 672 employees as of September 30, 2024, a decrease from 690 employees on March 31, 2024, with employee costs for the first half of the fiscal year 2025 amounting to approximately HKD 95 million[122]. - Employee benefits expenses slightly decreased by about HKD 1 million or 1% to approximately HKD 95 million in the first half of fiscal year 2025[99]. - Other operating expenses increased by approximately HKD 13 million or 29% to HKD 60 million, primarily due to increased online gaming expenses and rising utility costs[100]. Market Position and Future Outlook - The group aims to provide a diverse and attractive range of slot machine products to enhance player experience and reduce wait times for available equipment[85]. - The group anticipates a challenging macroeconomic environment for the fiscal years 2025/2026, with inflation and interest rates showing a positive trend[130]. - The company plans to maintain and strengthen its market position in the Czech Republic through acquisitions or new business ventures[127]. Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code as a standard for its corporate governance practices[140]. - The Audit Committee, composed of four independent non-executive directors, has reviewed the accounting principles and practices adopted by the company[141].