CD PROJEKT Group: Q1 2025 Earnings Presentation

Key insights

5 takeaways

01
CD PROJEKT reported a Q1 2025 net profit of 86 million PLN, representing a 14% year-over-year decrease and a 38% net profitability margin.See it on page 10
02
The company maintains a strong financial position with 1.49 billion PLN in cash, bank deposits, and bonds, supporting a recommended dividend payout of 1 PLN per share.See it on page 15
03
Development expenditure reached 785 million PLN by the end of Q1 2025 as the company shifts resources toward its next generation of titles.See it on page 14
04
The Witcher 3: Wild Hunt has reached 60 million units sold with 2.4 billion PLN in total revenue, while the Cyberpunk 2077: Phantom Liberty expansion has sold 10 million copies.See it on page 6
05
As of April 30, 2025, the company employs 730 developers, with the largest teams focused on the next Witcher installment (422 staff) and the Cyberpunk franchise (96 staff).See it on page 8

Summary

The CD PROJEKT Group’s Q1 2025 earnings presentation outlines the financial performance and operational status of the company as of May 28, 2025. The primary objective of the document is to provide stakeholders with a transparent overview of the group’s fiscal health, ongoing development pipeline, and long-term product milestones. The company reports a net profit of 86 million PLN for the first quarter of 2025, reflecting a 14% decrease compared to the same period in the previous year, alongside a net profitability margin of 38%.

Key performance indicators highlight the enduring commercial success of the company’s core intellectual properties. As of late May 2025, The Witcher 3: Wild Hunt has reached 60 million copies sold, generating 2.4 billion PLN in total revenue. Additionally, the Cyberpunk 2077: Phantom Liberty expansion has achieved 10 million copies sold. These figures underscore the company's strategy of maintaining long-term engagement with its established franchises.

Operational focus remains heavily centered on future development, with a total of 730 developers engaged across various projects as of April 30, 2025. The largest internal teams are dedicated to the next installment of The Witcher series (422 developers) and the Cyberpunk franchise (96 developers). Capital expenditure on development projects rose to 785 million PLN by the end of the quarter, signaling significant investment in the company's future product pipeline.

The group maintains a strong liquidity position, with cash, bank deposits, and bonds totaling approximately 1.49 billion PLN. Reflecting this stability, the board has recommended a dividend payout of 1 PLN per share, totaling nearly 100 million PLN. The presentation serves as a formal update for investors, emphasizing the company's transition from current product maintenance to the active development of its next generation of titles.