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SONY GROUP CORPORATION, First Half Net Income Increases by 37%, July-September Net Income Increases by 69%

Fri Nov 8, 2024 3:30 pm JST Earnings

6758 SONY GROUP CORPORATION 【IFRS】

Earnings Report

SONY GROUP CORPORATION <6758> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 570 billion yen, an increase of 36.5% compared to the same period last year. The progress rate against the 980 billion yen full-year plan was 58.2%, also surpassing the four-year average of 52.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 25.9% from the same period last year to 409 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 69.2% from the same period last year, reaching 338 billion yen. The operating profit margin drastically improved from 9.3% in the same period last year to 15.7%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 4,855,224 734,268 720,395 542,775 87.8 56.5 Nov 1, 2022 IFRS
Apr - Sep, 2023 5,792,275 516,051 533,629 417,650 67.7 42.1 Nov 9, 2023 IFRS
Apr - Sep, 2024 5,917,246 734,183 767,114 570,134 93.8 57.5 Nov 8, 2024 IFRS
YoY +2.2% +42.3% +43.8% +36.5% +38.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 10 May 14, 2024 IFRS
Apr - Sep, 2024 Results 5,917,246 734,183 767,114 570,134 93.8 10 Nov 8, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 12,610,000 1,310,000 1,335,000 980,000 162.9 20 Aug 7, 2024 IFRS
Mar, 2025 New 12,710,000 1,310,000 1,335,000 980,000 162.9 20 Nov 8, 2024 IFRS
Revision Rate +0.8% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 7,228,493 692,780 735,033 552,923 89.8 9 May 14, 2024 IFRS
Oct - Mar, 2024 Guidance 6,792,754 575,817 567,886 409,866 68.1 10 Nov 8, 2024 IFRS
YoY -6.0% -16.9% -22.7% -25.9% -24.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 10,974,373 1,302,389 1,274,496 1,005,277 162.7 15 Apr 28, 2023 IFRS
Mar, 2024 13,020,768 1,208,831 1,268,662 970,573 157.7 17 May 14, 2024 IFRS
Mar, 2025 Guidance 12,710,000 1,310,000 1,335,000 980,000 162.9 20 Nov 8, 2024 IFRS
YoY -2.4% +8.4% +5.2% +1.0% +3.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,828,623 263,009 257,595 200,105 32.4 9.3 Nov 9, 2023 IFRS
Oct - Dec, 2023 3,747,527 463,338 458,555 363,918 59.0 12.4 Feb 14, 2024 IFRS
Jan - Mar, 2024 3,480,966 229,442 276,478 189,005 30.7 6.6 May 14, 2024 IFRS
Apr - Jun, 2024 3,011,649 279,106 316,867 231,638 38.0 9.3 Aug 7, 2024 IFRS
Jul - Sep, 2024 2,905,597 455,077 450,247 338,496 55.7 15.7 Nov 8, 2024 IFRS
YoY +2.7% +73.0% +74.8% +69.2% +71.8%

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