The CD PROJEKT posted 255 million PLN in sales revenues and a net profit of 119 million for the first half of 2017.
The financial result of the CD PROJEKT Group for the first half of the year is in large part due to continued sales of games from The Witcher series, currently celebrating its 10th anniversary.
This year marks the 10th anniversary of The Witcher series, with The Witcher 3 once again ranking at the very top of the Best PC Games list published by PC Gamer. Over the past decade we have built a strong brand and released excellent games, as attested to by our financial result for the first half of 2017 – says Piotr Nielubowicz, Vice President and CFO.
This year’s result is also affected by the Group’s newest product – GWENT: The Witcher Card Game, which entered its public beta testing phase in May. The corresponding impact on the Group’s financials is felt primarily in the GOG.com segment, where all revenues from the game’s PC edition are aggregated.
In the first half of 2017 the Group spent 33 million PLN on development of new videogames, including Cyberpunk 2077 and GWENT: The Witcher Card Game. By the end of June the cumulative balance of expenditures on future releases reached 97 million PLN. The Company also paid out its first-ever dividend, in the amount of 101 million PLN.
From the business perspective, the highlight of the recent period was the launch of GWENT open beta tests, coupled with further development of the game itself. Since 29 August the game is present on the Chinese market, where a closed beta is in progress. In April CD PROJEKT established a regional office in Shanghai, charged with coordinating the Group’s publishing and promotional activities in China.
In late August, at the gamescom fair in Cologne, CD PROJEKT unveiled its e-sports strategy. A series of professional tournaments will be organized, culminating in a grand final in 2019. The total prize pool is 850 thousand USD.
The first GWENT tournament held in May clearly demonstrated that our card game makes for an excellent e-sports spectacle. We intend to deliver top-quality entertainment for gamers and spectators alike, keeping them enthralled and engaged with the community. Our e-sports approach is unique in that we offer a single, global challenge to players from all around the world – remarks Adam Kiciński, CEO of CD PROJEKT.
The full financial statement along with the management report on CD PROJEKT Capital Group activities can be found on the Company website: