CD PROJEKT Group of Companies shared with investors the financial report for July-September. Judging by the published data, the holding’s business is going uphill again.
What’s in the report?
According to published data:
- The group’s total sales for three months amounted to 245.5 million zlotys ($54.2 million);
- this is 70% more than the group earned over the same period a year earlier;
- net profit for the quarter amounted to 98.7 million zlotys ($21.8 million);
- its annual growth reached 504%.
Important: Cyberpunk 2077 provided most of the revenue.
The company has never had such indicators for the third quarter before. As a rule, the company’s revenue did not reach 100 million zlotys ($22 million). In addition, most of it was used to cover costs.
This time, the profitability of the group reached the level of 40%, despite the fact that the product costs in CD PROJEKT doubled in annual terms to 79.2 million zlotys ($17.4 million). Of these, just over 60 million zlotys (($13.2 million) went directly to the development of new products.
How did this become possible?
“The quarter turned out to be stressful for us,” Pyotr Nielubowicz, the company’s chief financial officer, comments on its results in a video timed to coincide with the publication of the report.
- In September, the company published patch 1.6 for Cyberpunk 2077, which introduced both a significant number of fixes and new content to the game.
- Fans of the project received an official tool for creating modifications to the project — REDmod.
- The first and last large—scale DLC for Cyberpunk 2077 – Phantom Liberty was announced. The company also shared his story trailer.
- The 10-episode anime series Edgerunners, whose events take place in the world of the game, was released on Netflix (it was very warmly received by critics and audiences, and also entered the top 10 most watched shows on Netflix in 19 countries).
All together, it directly affected the sales of Cyberpunk 2077, allowing it not only to get back into the top 10 best-selling games on Steam, but also to reach the mark of 20 million copies sold, and the company as a whole to earn a record amount for the third quarter in the history of CD PROJEKT.
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We will find out how the market will react to the financial results of the company only tomorrow morning, when the exchange opens.