FinancialCD Projekt
CD Projekt Group Q1 2024 Earnings
28 May 202417 pages~10 min full read
CD Projekt Group reported a 30% year-on-year revenue increase to 174.8 million PLN, with a net profit of 86.0 million PLN and a net profitability margin of 44.1%.
The Cyberpunk 2077 expansion generated 75.4 million PLN in revenue, helping to offset a 41% decline in Witcher-related sales.
Development capacity expanded significantly, with the total number of active developers across projects including Polaris, Orion, Sirius, and Hadar rising from 403 to 630.
The company's financial position strengthened, with total assets growing 4% to 2.72 billion PLN and cash, bank deposits, and bonds increasing 10% to 1.45 billion PLN.
As of April 30, 2024, Cyberpunk 2077 maintained a 95% positive review rating on Steam, indicating strong player sentiment.
Gross profit reached 120.5 million PLN, while EBIT improved to 71.0 million PLN for the first quarter of 2024.
The presentation delivers CD Projekt Group’s financial and operational results for the first quarter of 2024, emphasizing revenue growth, profitability improvements, and development activity across its flagship titles. Sales revenue reached 174.8 million PLN, a 30 % increase year‑on‑year, while sales of products and services climbed 42 % to 131.0 million PLN. The Cyberpunk 2077 expansion contributed 75.4 million PLN, offset by a 41 % decline in Witcher‑related sales. Gross profit rose to 120.5 million PLN, and EBIT improved to 71.0 million PLN, delivering a net profit of 86.0 million PLN and a net profitability margin of 44.1 %, up from 39.7 % in the prior quarter.
Balance‑sheet metrics show total assets expanding 4 % to 2.72 billion PLN, driven by a 10 % rise in cash, bank deposits and bonds to 1.45 billion PLN. Equity increased by 4 % to 2.51 billion PLN, while liabilities grew modestly. Development resources intensified, with the number of active developers rising from 403 to 630 across Cyberpunk 2077, Polaris, Orion, Sirius, Hadar and shared‑services projects. Steam data indicate that 95 % of Cyberpunk 2077 reviews were positive as of 30 April 2024, reflecting strong post‑release sentiment despite earlier review‑bombing linked to external events.
The analysis draws on internal financial statements prepared in accordance with Polish accounting standards, supplemented by Steam review statistics and head‑count records. Geographic coverage is global, with all monetary figures reported in Polish złoty, and the time frame spans Q1 2024 compared with the corresponding quarter of 2023. Overall, the quarter demonstrates robust revenue expansion, heightened profitability, and increased development capacity,
