Cd Projekt S.a. · GPW:CDR
Cd Projekt — FY2024 Earnings Presentation
23 slides from Cd Projekt's earnings presentation, Mar 25, 2025
Slide 1: CD PROJEKT GROUP FY 2024 Earnings
CD PROJEKT GROUP FY 2024 Earnings 25 MARCH 2025 Michał Nowakowski | J O I N T C H I E F E X E C U T I V E O F F I C E R , M E M B E R O F T H E B O A R D Piotr Nielubowicz | C H I E F F I N A N C I A L O F F I C E R , M E M B E R O F T H E B O A R D Karolina Gnaś | V I C E P R E S I D E N T , I N V
Slide 2: A New Saga Begins
A NEW SAGA BEGINS
Slide 3: The Witcher 4 took over The Game Awards 2024
The Witcher 4 took over The Game Awards 2024… Most watched trailers from The Game Awards 2024 on the IGN channel* (thousands of views) 8 167 2 765 962 574 509 439 413 148 The Witcher 4 *the data covers the 72-hour period following the The Games Awards 2024, aggregated by CD PROJEKT RED 3
Slide 4: …and dominated the press coverage after The Game Awards 2024
…and dominated the press coverage - being the most talked-about game after The Game Awards 2024 Titles with the most press coverage after The Game Awards 2024* *the data covers the 72-hour period following the The Games Awards 2024, aggregated by Fancensus 4
Slide 5: Overwhelmingly positive reviews
95% GAMES AWARDS OVERWHELMINGLY POSITIVE REVIEWS* *from the last 30 days before March 25th 5
Slide 6: *as of the end of November 2024 *as of the end of November 2024
*as of the end of November 2024 *as of the end of November 2024 6
Slide 7: Coming to Macs 2025
RPK COMING TO MACS 2025 5 fe @steaw @ store
Slide 8: New Cyberpunk animation project on Netflix & more coming soon
New Cyberpunk animation project on Netflix & more coming soon 8
Slide 9: Long-term outlook update
Long-term outlook update The Witcher 4 Sirius The Witcher Remake Project stage: Production Project stage: Pre-production Project stage: Concept Orion Project stage: Concept Hadar NEW IP Project stage: IP concept phase Unannounced projects - including one developed by The Fool’s Theory 9
Slide 10: Development teams engaged in ongoing projects
Development teams engaged in ongoing projects No. of developers October 31, 2024 400 64 42 18 107 19 650 February 28, 2025 411 84 49 17 124 22 707 The Witcher 4 Orion Sirius Hadar Shared Services* Other projects** *e.g. Localization, Quality Assurance, Data, Insights & Experiences, Artificial Intelli
Slide 11: Strategic partnership with Scopely
We’ve entered into a strategic partnership with Scopely to develop a game set within one of CD PROJEKT’s IPs x
Slide 12: Financial Results
Financial Results OF THE CD PROJEKT GROUP 12
Slide 13: CD PROJEKT GROUP — Profit and loss account
CD PROJEKT GROUP — Profit and loss account CD PROJEKT GROUP RED GOG eliminations 2024 vs. 2024 vs. 2023 2024 2024 2024 2024 2023 [PLN] 2023 [%] Sales revenue 1 230 199 985 030 801 635 199 338 -15 943 -245 169 -20% Sales of products and services 1 043 446 801 635 793 960 1 112 6 563 -241 811 -23% – CP
Slide 14: Net profit vs. costs and expenses
CD PROJEKT GROUP Net profit vs. costs and expenses 14 All figures in PLN thousands
Slide 15: Long-term perspective
CD PROJEKT GROUP Long-term perspective .3 x 2 .5 x 2 15 All figures in PLN thousands
Slide 16: CD PROJEKT GROUP – assets
CD PROJEKT GROUP – assets Assets 31.12.2023 31.12.2024 change change % Non-current assets 1 450 685 1 574 164 123 479 9% Expenditure on development projects 527 182 695 421 168 239 32% – New development during 2024 274 373 – Depreciation during 2024 -106 134 Other financial assets * 455 907 292 137 -
Slide 17: CD PROJEKT GROUP – equity and liabilities
CD PROJEKT GROUP – equity and liabilities Equity and liabilities 31.12.2023 31.12.2024 change change % Equity 2 403 223 2 800 667 397 444 17% Liabilities 210 277 241 757 31 480 15% Liabilities 103 914 120 827 16 913 16% Deferred income 15 485 16 840 1 355 9% Provisions 90 878 104 090 13 212 15% Tota
Slide 18: Changes in cash, deposits & bonds
CD PROJEKT GROUP Changes in cash, deposits & bonds 119 767 -98 169 20 325 -78 504 78 504 -249 311 469 874 590 301 -99 911 1 472 034 1 309 459 Cash flow excluding R&D costs/expenses and dividend during 2024: +590 301k PLN Total increase including R&D costs/expenses and dividend during 2024: +162 575k
Slide 19: Research, development & product maintenance costs
CD PROJEKT RED Research, development & product maintenance costs 100 000 75 000 50 000 25 000 0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new projects (P&L - G&A costs) Development expe
Slide 20: CD PROJEKT GROUP – incentive program B
CD PROJEKT GROUP – incentive program B Consolidated net profit goals of the motivational program to align top managers goals with the CD PROJEKT Group Objectives 4 000 000 3 000 000 2 000 000 84% 52% remaining remaining 1 000 000 0 2023-2026 2024-2027 2025-2028 2023 FY Net profit 2024 FY Net profit Rem
Slide 21: Celebrating years of The Witcher 3: Wild Hunt in Concert
2 CELEBRATING 10 YEARS OF THE WITCHER 3: WILD HUNT IN CONCERT
Slide 22: Thank you
Thank you ir@cdprojekt.com karolina.gnas@cdprojekt.com
Slide 23: Legal Disclaimer
Legal Disclaimer This presentation was created by CD PROJEKT S.A. (“CD PROJEKT”). Data contained in this presentation is valid as of the day of its preparation. Consequently, this presentation will not be subject to changes, updates or modifications to account for events which might occur after this