- Solid revenues and net profit driven by strong sales of Cyberpunk 2077 and the Phantom Liberty expansion
- CD PROJEKT carries on with dynamic development, with a new dev team in Boston tasked with work on a new game set in the Cyberpunk universe
- The Management Board of the Company has recommended allocating nearly 100 million PLN toward a dividend
CD PROJEKT posted strong results for 2023. Consolidated sales revenues topped 1 230 million PLN, with a net profit of 481 million PLN. This represents an improvement by 29% and 39% respectively, compared to the reference period. 2023 was the second best year in the entire history of the CD PROJEKT Group. The Group’s net profitability in 2023 was 39%.
– Update 2.0 and the Phantom Liberty expansion for Cyberpunk 2077 were released in September and met with enthusiastic reception on the part of gamers and gaming media alike. This resulted in strong sales of both titles. In just over three years our cumulative revenues from sales of games which comprise the Cyberpunk franchise exceeded 3 billion PLN, further attesting to the strength of this IP – remarks Piotr Nielubowicz, CFO of CD PROJEKT – The success of Phantom Liberty and reinvigoration of positive sentiment surrounding the base game are crucial for further growth of CD PROJEKT, which is rooted in building strong, widely recognized brands.
The Studio’s new Boston-based team, founded by persons responsible for the success of Phantom Liberty, began operating in late 2023. This team will be tasked with development of Project Orion – another large game set in the Cyberpunk universe, currently in the conceptual phase.
– We intend to work on multiple projects in the framework of our franchises – including projects which go beyond the video game field. In the case of Cyberpunk the next challenge, following on the heels of the excellent reception of the Cyberpunk: EDGERUNNERS anime series, will be a live-action project developed in collaboration with the renowned Anonymous Content production studio – says Michał Nowakowski, Joint CEO of CD PROJEKT.
The achieved earnings bolster the financial resources of the CD PROJEKT Group. Despite having invested nearly 273 million PLN on development of new projects and paying out nearly 100 million PLN in a dividend, by the end of 2023 the value of the Group’s financial reserves – cash, bank deposits and T-bonds – grew to over 1.3 billion PLN. Secure financial status enables us to focus on development work. Polaris – the first instalment of the new Witcher trilogy – is currently the furthest along in development, with over 400 people involved in the project.
On 28 March the Management Board of the Company recommended allocating nearly 100 million PLN from the net profit obtained in 2023 toward a dividend, at 1 PLN per share.
The full financial statement of the CD PROJEKT Group can be found at https://www.cdprojekt.com/en/investors/result-center/.