CD PROJEKT Group H1 2025 Earnings Transcript

Key insights

7 takeaways

01
CD PROJEKT Group reported H1 2025 net profit of 155 million PLN and sales revenue of 443 million PLN, a 4% increase year-over-year.See it on page 3
02
The company maintains a strong liquidity position with 1.43 billion PLN in cash, deposits, and bonds as of June 2025.See it on page 4
03
Development of the next Cyberpunk title (Cyberpunk 2) moved into pre-production in Q2 2025, while The Witcher 4 reached a technical demonstration milestone on Unreal Engine 5.See it on page 1
04
The company expanded its platform reach by launching Cyberpunk 2077: Ultimate Edition on Nintendo Switch 2 and Apple Silicon-based Macs.See it on page 2
05
The workforce grew by 10% to nearly 800 developers to support accelerated production schedules for major projects.See it on page 2
06
The group is expanding its transmedia strategy with a confirmed partnership with Studio TRIGGER to produce a second season of the Cyberpunk: Edgerunners anime for Netflix.See it on page 2
07
EBIT for H1 2025 reached 168 million PLN, marking a 20% growth compared to the same period in 2024.See it on page 3

Summary

The CD PROJEKT Group’s H1 2025 earnings report outlines a period of strategic expansion, characterized by significant technological milestones and the diversification of its core franchises. The company’s primary objective is to leverage technological innovation, multiplatform availability, and transmedia storytelling to strengthen brand value and broaden its global audience. Key operational highlights include the technical demonstration of The Witcher 4 on Unreal Engine 5 and the launch of Cyberpunk 2077: Ultimate Edition as a day-one title for the Nintendo Switch 2, alongside a new port for Apple Silicon-based Mac computers.

Financially, the group reported H1 2025 sales revenue of 443 million PLN, a 4% increase over the same period in 2024. EBIT reached 168 million PLN, representing a 20% year-over-year growth, while net profit stood at 155 million PLN. The company maintained a robust financial position with 1.43 billion PLN in cash, deposits, and bonds as of June 2025. Development expenditures rose as the company accelerated work on major projects, including The Witcher 4 and Cyberpunk 2, the latter of which transitioned into pre-production during the second quarter.

The workforce grew by 10% to nearly 800 developers to support these initiatives. Beyond gaming, the company is deepening its transmedia footprint, notably through the announcement of a new standalone anime series, Cyberpunk: Edgerunners 2, in partnership with Studio TRIGGER for Netflix. While the company continues to invest heavily in new development, it remains focused on long-term brand sustainability, balancing internal growth with strategic external collaborations to maintain its position at the forefront of the gaming industry.