Condensed Interim Consolidated Financial Statement of the CD PROJEKT Group for Q1 2024

The CD PROJEKT Group’s financial results for the first quarter of 2024 demonstrate robust growth and a strengthened market position. The company reported a consolidated net profit of 100.1 million PLN, representing a 44.2% increase compared to the same period in 2023. Total sales revenue reached 226.8 million PLN, driven primarily by the sustained commercial performance of Cyberpunk 2077 and its Phantom Liberty expansion, alongside the digital distribution operations of GOG.COM. North America remains the company’s most significant geographic market, accounting for over 70% of total export sales.

The Group maintains a solid financial foundation, characterized by total equity of 2.5 billion PLN and total financial assets—including cash, bank deposits, and Treasury bonds—rising to approximately 1.59 billion PLN. This liquidity supports the company’s ongoing transition to Unreal Engine 5 and the parallel development of multiple projects within the Cyberpunk and The Witcher franchises. Development expenditure remains the largest component of non-current assets, reflecting a strategic commitment to long-term production goals and the integration of multiplayer elements into core intellectual properties.

Operational efficiency is supported by the utilization of R&D tax relief and the implementation of agile production methodologies. While the company faces inherent seasonality in its revenue cycles and remains mindful of the geopolitical climate, its financial outlook remains stable. The Management Board has proposed a dividend of 1.00 PLN per share for the 2023 financial year, underscoring confidence in the Group’s capital structure. These results, prepared in accordance with IFRS, confirm that the company is effectively balancing current revenue generation with the intensive investment required for its future development pipeline.