CD Projekt, a prominent player in the video gaming sector, has unveiled its financial results for 2024, reflecting a successful year despite the absence of major title launches. The Polish gaming studio reported consolidated sales revenues of approximately 985 million PLN, paired with a net profit of nearly 470 million PLN, marking a formidable year that, while showing a slight decrease from the previous year, nonetheless confirms the company's solid footing in the industry.
According to Piotr Nielubowicz, CFO of CD Projekt, “Despite the lack of major launches, the past year was the third best in the Group’s history in terms of net profit.” This statement underscores the company’s resilience and capability to thrive on the continued popularity of its existing franchises, particularly the blockbuster Cyberpunk 2077.
In its financial overview, CD Projekt noted that its net profit dipped by 2% compared to 2023, yet the impressive profitability rate stood at around 48%. Much of this success is attributable to the runaway success of Cyberpunk 2077, which, along with its expansion Phantom Liberty, amassed nearly 600 million PLN in revenue, significantly bolstering the company’s financial health. As of November 2024, cumulative sales of Cyberpunk 2077 surpassed 30 million copies sold, while the Phantom Liberty expansion had sold over 8 million copies.
Michał Nowakowski, Joint CEO of CD Projekt, elaborated on this success: “Both of our franchises wrapped up an excellent year. Naturally, the results of the CD Projekt Group are primarily driven by sales of Cyberpunk 2077: the base game, along with its Phantom Liberty expansion, generated nearly 600 million PLN in earnings.” The sustained interest in Cyberpunk 2077, even well after its initial launch, reflects the impact of engaged community support and the company's commitment to continuous updates and enhancements.
The Witcher franchise has also proven to be a steady revenue generator for CD Projekt. Even ten years after its launch, The Witcher 3: Wild Hunt continues to capture player interest, contributing to reliable financial performance. Plans for the future were also discussed, as the company announced that the much-anticipated The Witcher 4, previously known as Project Polaris, has officially entered full-scale production with high expectations for its release before the end of 2026. The excitement surrounding the first trailer, unveiled at The Game Awards in December, was met with acclaim from both fans and media, particularly for its depiction of Ciri as the new main protagonist.
Furthermore, the gaming giant is also venturing into new territory, announcing a new animated project linked to the Cyberpunk universe, currently in development for Netflix. This expansion of its intellectual properties demonstrates CD Projekt’s innovative approach to engaging its audience across multiple platforms.
As CD Projekt reflected on its achievements, it also highlighted how its financial reserves increased by over 160 million PLN over the course of the year, now totaling to approximately 1.47 billion PLN in liquid assets. This financial solidity is bolstered despite record expenditures on development projects and shareholder dividends of around 100 million PLN.
Analysts have noted a growth in CD Projekt's share price, rising over 90% within the last year, which further validates investor confidence in the company's future potential and the upcoming releases that could maintain and likely win greater market share.
The anticipation surrounding The Witcher 4 continues to evoke interest as the 2025 gaming calendar approaches, marked by the tenth anniversary of The Witcher 3. Fans are eagerly awaiting further updates on both the forthcoming titles and the success of existing games. The impact of these developments on future revenues remains eagerly speculated among investor circles.
In summary, despite a challenging year with the absence of new major game releases, CD Projekt has managed to report substantial results that keep it firmly seated as a leading force within the gaming industry. With a strong focus on previously successful titles and exciting forthcoming projects, CD Projekt's strategic direction appears promising as it gears up for the years ahead.
