In the first half of 2018 the CD PROJEKT Capital Group posted 168 million PLN in sales revenues and over 52 million PLN in net profit.
– Since we had no new product releases lined up for the first half of the year, the Group’s revenues and net result were driven by ongoing strong sales of The Witcher 3: Wild Hunt together with its expansions, as well as by sales carried out on GOG.com and GOG Galaxy – says Piotr Nielubowicz, Vice President and CFO of CD PROJEKT. – These results confirm that gamers still eagerly reach for our products – he adds.
Despite the lack of new releases, the recent months were a very busy period from the perspective of the Group’s further development. Immediately prior to the world’s largest gaming fair – Electronic Entertainment Expo (E3) in Los Angeles – during the culmination of the Microsoft conference CD PROJEKT unveiled a new trailer of Cyberpunk 2077.
– The trailer elicited very enthusiastic reactions from gamers worldwide and became the most watched content we had ever published. – notes Adam Kiciński, President of the CD PROJEKT Group. He then adds – At the fairs themselves – I’m referring here to E3 as well as Gamescom in Cologne – we held dozens of gameplay presentations for our business partners and media representatives from all over the world. We have received a trove of positive feedback and reviews, moreover yesterday we published a recording of the entire demo so that everyone can form their own opinion.
Thus far Cyberpunk 2077 has received over 100 awards, including from such prestigious media outlets as IGN, GameSpot and Game Informer.
In the first half of 2018 videogame development expenses, including expenses related to priming Cyberpunk for presentation at gaming fairs, and the upcoming releases of the full version of GWENT along with Thronebreaker – a standalone single-player GWENT campaign offering multiple hours of gameplay – reached 51 million PLN. The cumulative balance of R&D expenses increased to 197 million PLN.
From the business perspective, an important event occurring in the presented period was the launch of the CD PROJEKT RED Wrocław studio, built around the Strange New Things team which CD PROJEKT had acquired. The new studio cooperates with teams in Warsaw and Kraków on further development of Cyberpunk. In addition, in August CD PROJEKT added a new member company to its Capital Group – Spokko. This company will work on a heretofore unannounced project targeting mobile devices, with access to the Group’s intellectual property along with its creative and commercial muscle.
The full financial statement and report on CD PROJEKT Capital Group activities can be found on the Company website at www.cdprojekt.com.