Russia and Belarus Accounted for 5.4% of CD Projekt RED Revenues

CD Projekt RED has publicly assessed the financial implications of its withdrawal from the Russian and Belarusian markets following the onset of the conflict in Ukraine. The company’s primary thesis is that the cessation of sales in these regions will not have a significant negative impact on its overall operations or earnings for the 2022 fiscal year.

Data from the 2021 fiscal year indicates that the aggregate revenue share from Russia and Belarus accounted for 5.4% of sales within the CD Projekt RED segment and 3.7% of GOG sales between March 2021 and February 2022. While the company has terminated collaborations with Russian suppliers—including moving the development of The Witcher 3 next-gen upgrade in-house—it views the weakening of the Polish currency against the euro and the US dollar as a mitigating factor, given that the majority of its sales are exports.

Broader financial results for 2021 show a period of contraction, with total sales revenue reaching PLN 888 million, a 58.4% year-over-year decline, and net profit falling 81% to PLN 219 million. Despite these figures, the company maintains a strong intellectual property portfolio, with Cyberpunk 2077 surpassing 18 million units sold since its 2020 launch and The Witcher franchise exceeding 65 million total copies sold. While the company remains cautious regarding long-term forecasts due to ongoing geopolitical uncertainty, it currently characterizes the impact of its market exit as manageable.