Cd Projekt S.a. · GPW:CDR
Cd Projekt — Q1 2025 Earnings Presentation
17 slides from Cd Projekt's earnings presentation, May 28, 2025
Slide 1: CD PROJEKT GROUP Q1 2025 Earnings
CD PROJEKT GROUP Q1 2025 Earnings 28 MAY 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 E
Slide 2: 2
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Slide 3: Cyberpunk 2077: Phantom Liberty copies sold
*as of 28 May 2025 - Cyberpunk 2077: Phantom Liberty (copies of the expansion sold separately & in the Ultimate Edition bundle) 3
Slide 4: Cyberpunk 2 has entered pre-production phase
CYBERPUNK 2 HAS ENTERED PRE-PRODUCTION PHASE 4
Slide 5: 10 Years of The Witcher 3
10 YEARS OF THE WITCHER witd\{fwunT
Slide 6: The Witcher 3: Wild Hunt copies sold
*as of 28 May 2025 - The Witcher 3: Wild Hunt copies sold (base game & GOTY version // not including expansions sold separately) 6
Slide 7: Revenue from The Witcher 3: Wild Hunt
*as of 28 May 2025 - revenue from The Witcher 3: Wild Hunt (base game & GOTY version & expansions sold separately) 7
Slide 8: Development teams engaged in ongoing projects
Development teams engaged in ongoing projects No. of developers February 28, 2025 411 84 49 17 124 22 707 April 30, 2025 422 96 48 19 131 14 730 The Witcher 4 Cyberpunk 2 Sirius Hadar Shared Services* Other projects** *e.g. Localization, Quality Assurance, Data, Insights & Experiences, Artificial Int
Slide 9: Financial Results of the Group
Financial Results OF THE CD PROJEKT GROUP 9
Slide 10: CD PROJEKT GROUP — Profit and loss account
CD PROJEKT GROUP — Profit and loss account CD PROJEKT GROUP RED GOG eliminations Q1 2025 vs. Q1 2025 vs. Q1 2024 Q1 2025 Q1 2025 Q1 2025 Q1 2025 Q1 2024 [PLN] Q1 2024 [%] Sales revenue 226 785 226 305 181 101 48 682 -3 478 -480 0% Sales of products and services 186 219 181 201 179 079 420 1 702 -5 01
Slide 11: CD PROJEKT GROUP – assets
CD PROJEKT GROUP – assets Assets 31.12.2024 31.03.2025 change change % Non-current assets 1 574 164 1 729 873 155 709 10% Expenditure on development projects 695 421 785 199 89 778 13% – New development during Q1 2025 103 814 – Amortization during Q1 2025 14 036 Other financial assets * 292 137 329 8
Slide 12: CD PROJEKT GROUP – equity and liabilities
CD PROJEKT GROUP – equity and liabilities Equity and liabilities 31.12.2024 31.03.2025 change change % Equity 2 800 667 2 892 578 91 911 3% Liabilities 241 757 226 553 -15 204 -6% Liabilities 120 827 84 999 -35 828 -30% Deferred income 16 840 19 106 2 266 13% Provisions 104 090 122 448 18 358 18% To
Slide 13: CD PROJEKT RED research, development & product maintenance costs
CD PROJEKT RED Research, development & product maintenance costs 120 000 100 000 80 000 60 000 40 000 20 000 0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new projects (P&L - G&A costs) Development expenditures
Slide 14: CD PROJEKT GROUP changes in cash, deposits & bonds
CD PROJEKT GROUP Changes in cash, deposits & bonds 3 036 -99 711 -36 314 39 722 24 308 86 003 116 755 1 489 078 1 472 034 Cash flow excluding development expenses during Q1 2025: +116 775k PLN Total increase including development expenses during Q1 2025: +17 044k PLN Cash, deposits Net profit Amortiza
Slide 15: Board recommendation concerning dividend payout
BOARD RECOMMENDATION CONCERNING DIVIDEND PAYOUT 99 910 510 PLN - TOTAL DIVIDEND 1 PLN - DPS 15
Slide 16: Thank you
Thank you ir@cdprojekt.com karolina.gnas@cdprojekt.com 16
Slide 17: 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