Sony Group Corporation · TSE:6758

Sony — Q3 2024 Earnings Presentation

31 slides from Sony's earnings presentation, Feb 13, 2025

  1. Slide 1: Q3 FY2024 Consolidated Financial Results

    Q3 FY2024 Consolidated Financial Results (Three months ended December 31, 2024) February 13, 2025 Sony Group Corporation

  2. Slide 2: Q3 FY2024 Consolidated Results

    Q3 FY2024 Consolidated Results Sony without Financial Services Consolidated (Bln Yen) Q3 FY23 Q3 FY24 Change Q3 FY23 Q3 FY24 Change 3,439.4 3,695.7 +256.3 3,747.5 4,409.6 +662.0 Sales*1 （+7%） （+18%） Operating income 386.1 423.0 +36.9 463.3 469.3 +6.0 （+10%） （+1%） Operating income margin 11.2% 11.4%

  3. Slide 3: Q3 FY2024 Consolidated Results: Year-on-year Change

    Q3 FY2024 Consolidated Results: Year-on-year Change Year-on-year Contributing Factors Change (+) Better／(-) Worse ・(+) Significant increases in Financial Services, G&NS and Music segments sales Sales +662.0 bln yen +18% On a constant currency basis*1, sales increased approximately 15% ・(+) Significa

  4. Slide 4: Adjusted Income (Q3, Sony without Financial Services)

    Adjusted Income (Q3・Sony without Financial Services) *1 (Bln Yen) Q3 FY23 Q3 FY24 Change from Q3 FY23 Before Non-recurring Before Non-recurring Before Adjusted Adjusted Adjusted adjustment (profit) / loss*2 adjustment (profit) / loss*2 adjustment +36.9 +36.9 Operating income 386.1 ー 386.1 423.0 － 42

  5. Slide 5: Non-Recurring Profit and Loss (Sony without Financial Services)

    Non-Recurring Profit and Loss (Sony without Financial Services) (Bln Yen) Q3 Q1-Q3 Q3 Q1-Q3 FY23 FY23 FY23 FY24 FY24 Items included in operating income Items included in operating income － +6.0 +6.0 － － (before adjustment) (before adjustment) Remeasurement gain resulting from the consolidation of a

  6. Slide 6: Adjusted Income (Q3, Consolidated)

    Adjusted Income (Q3・Consolidated) *1 (Bln Yen) Q3 FY23 Q3 FY24 Change from Q3 FY23 Before Non-recurring Before Non-recurring Before Adjusted Adjusted Adjusted adjustment (profit) / loss*2 adjustment (profit) / loss*2 adjustment +6.0 +6.0 Operating income 463.3 － 463.3 469.3 － 469.3 （+1%） （+1%） +35.5

  7. Slide 7: Non-Recurring Profit and Loss (Consolidated)

    Non-Recurring Profit and Loss (Consolidated) (Bln Yen) Q3 Q1-Q3 Q3 Q1-Q3 FY23 FY23 FY23 FY24 FY24 Items included in operating income Items included in operating income － +6.0 +25.8 － － (before adjustment) (before adjustment) Remeasurement gain resulting from the consolidation of a company previously

  8. Slide 8: Q3 FY2024 Results by Segment

    Q3 FY2024 Results by Segment (Bln Yen) Q3 FY23 Q3 FY24 Change FX Impact Game & Network Services Sales 1,444.4 1,682.3 +237.9 +35.9 (G&NS) Operating income 86.1 118.1 +31.9 -2.9 Sales 422.1 481.7 +59.6 +10.9 Music Operating income 76.1 97.4 +21.3 Sales 366.3 398.2 ＋31.9 +10.6 Pictures Operating incom

  9. Slide 9: Q1-Q3 FY2024 Consolidated Results

    Q1-Q3 FY2024 Consolidated Results (Bln Yen) Sony without Financial Services Consolidated Q1-Q3 FY23 Q1-Q3 FY24 Change Q1-Q3 FY23 Q1-Q3 FY24 Change 8,454.1 9,236.6 +782.5 9,539.8 10,326.8 +787.0 Sales （+9%） （+8%） Operating income 831.9 1,061.4 +229.5 979.4 1,203.5 +224.1 （+28%） （+23%） Operating incom

  10. Slide 10: Adjusted Income (Q1-Q3, Sony without Financial Services)

    Adjusted Income (Q1-Q3・Sony without Financial Services) * (Bln Yen) Change from Q1-Q3 FY23 Q1-Q3 FY24 Q1-Q3 FY23 Before Non-recurring Before Non-recurring Before Adjusted Adjusted Adjusted adjustment (profit) / loss adjustment (profit) / loss adjustment +229.5 +235.5 Operating income 831.9 -6.0 825.

  11. Slide 11: Adjusted Income (Q1-Q3, Consolidated)

    Adjusted Income (Q1-Q3・Consolidated) * (Bln Yen) Change from Q1-Q3 FY23 Q1-Q3 FY24 Q1-Q3 FY23 Before Non-recurring Before Non-recurring Before Adjusted Adjusted Adjusted adjustment (profit) / loss adjustment (profit) / loss adjustment +224.1 +230.1 Operating income 979.4 -6.0 973.4 1,203.5 － 1,203.5

  12. Slide 12: Q1-Q3 FY2024 Results by Segment

    Q1-Q3 FY2024 Results by Segment (Bln Yen) Q1-Q3 FY23 Q1-Q3 FY24 Change FX Impact Game & Network Services Sales 3,170.4 3,618.8 +448.4 +154.6 (G&NS) Operating income 184.2 322.1 +137.9 +2.8 Sales 1,189.0 1,371.9 +182.9 +64.7 Music Operating income 230.5 273.7 +43.2 Sales 1,086.3 1,091.4 ＋5.0 +61.8 Pi

  13. Slide 13: FY2024 Consolidated Results Forecast

    FY2024 Consolidated Results Forecast (Bln Yen) Sony without Financial Services Consolidated FY24 FCT FY24 FCT FY23 FY23 November February Change November February Change +100 +490 11,265.0 11,800 11,900 13,020.8 12,710 13,200 Sales （+1%） （+4%） +25 +25 Operating income 1,035.3 1,165 1,190 （+2%） 1,208

  14. Slide 14: FY2024 Consolidated Results Forecast: Change from November Forecast

    FY2024 Consolidated Results Forecast: Change from November Forecast Change from Contributing Factors November (+) Better／(-) Worse forecast Sales +490 bln yen ・(+) Increases in Financial Services and G&NS segments sales +4% Operating income +25 bln yen ・(+) Increase in G&NS segment operating income

  15. Slide 15: FY2024 Results Forecast by Segment

    FY2024 Results Forecast by Segment (Bln Yen) FY24 FY24 Change from FY23 November FCT February FCT November FCT Game & Network Services Sales 4,267.7 4,490 4,610 +120 (G&NS) Operating income 290.2 355 380 +25 Sales 1,619.0 1,740 1,790 ＋50 Music Operating income 301.7 330 340 ＋10 Sales 1,493.1 1,510 1

  16. Slide 16: Game & Network Services Segment (G&NS Segment)

    Game & Network Services Segment (G&NS Segment) Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Q3 FY2024 (year-on-year) Operating Income  Sales: 237.9 bln yen (16%) significant increase (FX Impact: +35.9 bln yen) Adjusted OIBDA ·(+) Increase in sales of hardware due to an increase in uni

  17. Slide 17: Music Segment

    Music Segment Sales, Operating Income and Adjusted OIBDA Q3 FY2024 (year-on-year) Sales (Bln Yen)  Sales: 59.6 bln yen (14%) significant increase (FX Impact: +10.9 bln yen) Operating Income ・(+) Higher revenues from streaming services in Recorded Music and Music Publishing Adjusted OIBDA ・ (+) High

  18. Slide 18: Pictures Segment

    Pictures Segment Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Q3 FY2024 (year-on-year) Operating Income The following analysis is on a U.S. dollar basis Adjusted OIBDA  Sales: 31.9 bln yen (9%) increase (U.S. dollar basis: +145 mil USD / +6%) ·(+) Higher revenues from theatrical relea

  19. Slide 19: Entertainment, Technology & Services Segment (ET&S Segment)

    Entertainment, Technology & Services Segment (ET&S Segment) Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Q3 FY2024 (year-on-year) Operating Income  Sales: 31.2 bln yen (4%) decrease (FX Impact: +12.8 bln yen) Adjusted OIBDA ·(ー) Decrease in sales of televisions due to a decrease in un

  20. Slide 20: Imaging & Sensing Solutions Segment (I&SS Segment)

    Imaging & Sensing Solutions Segment (I&SS Segment) Sales, Operating Income and Adjusted OIBDA (Bln Yen) Q3 FY2024 (year-on-year) Sales Operating Income  Sales: Essentially flat (FX Impact: +17.3 bln yen) Adjusted OIBDA ·(ー) Decrease in sales of image sensors for mobile products ·(ー) Decrease in uni

  21. Slide 21: Financial Services Segment

    Financial Services Segment Financial Services Revenue, Operating Income and Adjusted OIBDA Q3 FY2024 (year-on-year) Financial Services Revenue (Bln Yen)  Revenue: 406.7 bln yen (130%) significant increase Operating Income ·(+) Significant increase in revenue at Sony Life Adjusted OIBDA (400.8 bln y

  22. Slide 22: Financial Services Segment

    Financial Services Segment Sony Life Operating Income Breakdown Adjusted Net Income*3 Group Consolidated ESR*6 Insurance Service Result*1 Sony Life ESR Investment Result Other*4 Economic value-based capital Other Result Other*2 Economic value-based risk post-tax FY23 （Bln Yen） （Bln Yen） Adjusted ROE

  23. Slide 23: Financial Services Segment: Reconciliations to Adjusted Net Income

    Financial Services Segment (Bln Yen) Reconciliations from Net Income to Adjusted Net Income FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Pre-tax net income (loss) (Operating Income)*1 54.5 15.7 77.3 26.1 30.0 65.7 46.4 Post-tax net income (loss) 38.5 10.7 55.0 19.8 21.5 46.7 32.7 SFGI related adjustments - - -

  24. Slide 24: Reconciliation Table for Adjusted EBITDA (Q3)

    Reconciliation Table for Adjusted EBITDA (Q3) (Bln Yen) Sony without Financial Consolidated Services Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Net income attributable to Sony Group Corporation’s stockholders 308.9 341.1 363.9 373.7 Net income attributable to noncontrolling interests 3.3 1.8 3.5 1.8 Income tax

  25. Slide 25: Results and Reconciliation Table for Adjusted OIBDA by Segment (Q3)

    Results and Reconciliation Table for Adjusted OIBDA by Segment (Q3) (Bln Yen) Q3 FY23 Q3 FY24 Change Depreciation Depreciation Operating Non-recurring Adjusted Operating Non-recurring Adjusted Adjusted and and Income (profit) / loss*2 OIBDA Income (profit) / loss*2 OIBDA OIBDA Amortization*1 Amortiz

  26. Slide 26: Reconciliation Table for Adjusted EBITDA (Q1-Q3)

    Reconciliation Table for Adjusted EBITDA (Q1-Q3) (Bln Yen) Sony without Financial Consolidated Services Q1-Q3 FY23 Q1-Q3 FY24 Q1-Q3 FY23 Q1-Q3 FY24 Net income attributable to Sony Group Corporation’s stockholders 727.5 843.0 781.6 943.9 Net income attributable to noncontrolling interests 4.5 7.4 4.9

  27. Slide 27: Results and Reconciliation Table for Adjusted OIBDA by Segment (Q1-Q3)

    Results and Reconciliation Table for Adjusted OIBDA by Segment (Q1-Q3) (Bln Yen) Q1-Q3 FY23 Q1-Q3 FY24 Change Depreciation Depreciation Operating Non-recurring Adjusted Operating Non-recurring Adjusted Adjusted and and Income (profit) / loss*2 OIBDA Income (profit) / loss*2 OIBDA OIBDA Amortization*

  28. Slide 28: Reconciliation Table for Adjusted EBITDA

    Reconciliation Table for Adjusted EBITDA (Bln Yen) Sony without Consolidated Financial Services FY23 FY23 Net income attributable to Sony Group Corporation’s stockholders 896.6 970.6 Net income attributable to noncontrolling interests 9.4 9.9 Income taxes 239.1 288.2 Interest expenses / (income), ne

  29. Slide 29: Forecast for Adjusted OIBDA by Segment

    Forecast for Adjusted OIBDA by Segment (Bln Yen) FY24 FY24 Change from FY23 November February November FCT FCT FCT Depreciation Operating Non-recurring Adjusted Adjusted Adjusted Adjusted and Income (profit) / loss*2 OIBDA OIBDA OIBDA OIBDA Amortization*1 Game & Network Services (G&NS) 290.2 117.7 －

  30. Slide 30: Notes

    Notes Notes about Adjusted OIBDA and Adjusted EBITDA Adjusted OIBDA (Operating Income Before Depreciation and Amortization) and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) are calculated by the following formulas: Adjusted OIBDA = Operating income + Depreciation

  31. Slide 31: Cautionary Statement

    Cautionary Statement Statements made in this material with respect to Sony’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. Forward-looking statements include, but are not limite

Sony Group — Q3 2024 Earnings Presentation on 6ix