Slide 1: H1 FY21 Earnings
H1 FY21 EARNINGS October 29, 2020 1
Slide 2: Disclaimer
DISCLAIMER Yves Guillemot, Chairman and Chief Executive Officer Frédérick Duguet, Chief Financial Officer D I S C L A I M E R This slide show may contain estimated financial data, information on future projects and transactions and future financial results/performance. Such forward-looking data are
Slide 3: Agenda
AGENDA H1 FY21 PERFORMANCE Q 3 & F Y 2 1 TA R G E T S 3
Slide 4: Q2 Outperformance Highlights
Q2 OUTPERFORMANCE HIGHLIGHTS Q2 Net Bookings: 345 M€ vs target of 290 M€ Higher-than-expected perf. led by: ▪ Depth of back catalog ▪ Strength of Live services Robust activity on PC and consoles: ▪ 100 million unique players in H1 ▪ R6 Siege: solid player acquisition in Q2, 65 million registered pla
Slide 5: H1 FY21 Performance
H1 FY21 PERFORMANCE Presentation of impact of mobile reclassification on net bookings and gross margin H1 FY21 – As reported H1 FY21– Pro forma Q2 FY21– As reported Q2 FY21 – Pro forma NET BOOKINGS 754.7 M€ 733.3 M€ 344.7 M€ 334.0 M€ +14.2% yoy +10.9% yoy -0.6% yoy -3.7% yoy DIGITAL NET BOOKINGS 655
Slide 6: H1 FY21: Non-IFRS P&L
H1 FY21: NON-IFRS P&L in € millions, except for per share data H1 2020-21 H1 2019-20 % % IFRS15 Sales 757.0 697.5 Deferred revenue related to IFRS15 standard (2.2) (36.4) Net bookings 754.7 661.1 Gross profit based on net bookings 652.8 86.5 564.3 85.4 Non-IFRS R&D expenses (258.5) (34.3) (284.9) (4
Slide 7: H1 FY21: R&D
H1 FY21: R&D In € millions H1 2020-21 H1 2019-20 Depreciation of in-house software-related production 99.7 157.5 Depreciation of external software-related production and licenses 1.5 2.3 Royalties 16.7 11.3 Non Capitalized R&D & others* 140.6 113.9 Total R&D P&L 258.5 284.9 Capitalized in-house soft
Slide 8: H1 FY21: IFRS / Non-IFRS Reconciliation
H1 FY21 : IFRS / NON-IFRS RECONCILIATION In € millions H1 2020-21 H1 2019-20 except for per share data IFRS Adjustment Non IFRS IFRS Adjustment Non IFRS IFRS15 Sales 757.0 757.0 697.5 697.5 Deferred revenue related to IFRS15 standard (2.2) (2.2) (36.4) (36.4) Net bookings 754.7 661.1 Total Operating
Slide 9: H1 FY21: Cash Flows & Closing Cash Position
H1 FY21 : CASH FLOWS & CLOSING CASH POSITION In € millions H1 2020-21 H1 2019-20 Non-IFRS Opening cash position (100.6) (293.8) Cash flows from operation (146.0) (104.1) Change in WCR 73.3 83.5 Cash flows from operating activities (72.8) (20.6) Net investment in capital assets (42.8) (50.1) Net free
Slide 10: Agenda
AGENDA H1 FY21 PERFORMANCE Q 3 & F Y 2 1 TA R G E T S 10
Slide 11: FY21: Updated Targets
FY21: UPDATED TARGETS Q3 FY21e Q3 FY21 NET BOOKINGS: between 860 M€ and 960 M€ FY21 NET BOOKINGS: 2,200*- 2,350* M€ NON-IFRS OPERATING INCOME: between 420 M€ and 520 M€ *including 50M of new mobile reclassification 420 M€ 520 M€ • Far Cry 6 and Rainbow Six Quarantine postponed FY21e due to WFH in or
Slide 12: The Most Ambitious Line-up of the Industry
THE MOST AMBITIOUS LINE-UP OF THE INDUSTRY Q3 Q4 • Amazon Luna • Nintendo Switch • PC • PS4 • PS4 • PS5 • PS5 • Stadia • Stadia • Xbox One • Xbox One • Xbox Series X/S • Xbox Series X/S OCT. 29TH 2020 NOV. 12TH 2020 JAN. 21ST 2021 • Amazon Luna • Amazon Luna • PC • Nintendo Switch • PS4 • PC • PS5 •