Cd Projekt S.a. · GPW:CDR
Cd Projekt — FY2021 Earnings Presentation
20 slides from Cd Projekt's earnings presentation, Apr 14, 2022
Slide 1: CD PROJEKT Group FY 2021 Earnings
CD PROJEKT Group FY 2021 Earnings 14 April 2022 Adam Kiciński // President, Joint CEO Piotr Nielubowicz // Member of the Board, CFO Michał Nowakowski // Member of the Board, SVP Business Development
Slide 2: Year of Pivotal Internal Changes
YEAR OF PIVOTAL INTERNAL CHANGES RED 2.0 in progress - building agile teams and internal competences Building two independent teams to work on 2 AAA projects Strengthening the role of CTO followed by changes to the Management Board Refocus on staff well-being and priority given to HR activities 2
Slide 3: * 15.02-20.02
3 * 15.02-20.02
Slide 4: 18+ Million Copies Sold
18+ MILLION COPIES SOLD* * as of 14 April 2022; retail sales to gamers (sell-through); company estimates based on information collected from distributors 4
Slide 5: Development Teams Engaged in Ongoing Projects
DEVELOPMENT TEAMS ENGAGED IN ONGOING PROJECTS 31 December 2020 30 June 2021 31 December 2021 28 February 2022 Support for Cyberpunk 2077 + next-gen version GWENT-related projects SPOKKO CP Expansion Other projects, incl. new game in The Witcher IP The Molasses Flood 5
Slide 6: New Outposts to Reach for Talent Pool and Complement Our Competences
NEW OUTPOSTS TO REACH FOR TALENT POOL AND COMPLEMENT OUR COMPETENCES 6
Slide 7: Strategic Partnership with Epic Games Using Unreal Engine
A STRATEGIC PARTNERSHIP WITH EPIC GAMES USING UNREAL ENGINE IN OUR UPCOMING GAMES 7
Slide 8: Witcher: A New Saga Begins
oe WITCHER A NEW SAGA BEGINS
Slide 9: 65+ Million Copies Sold
65+ MILLION COPIES SOLD, INCLUDING 40+ MILLION OF THE WITCHER 3: WILD HUNT* * as of 14 April 2022; sell-in figures 9
Slide 10: Production Plans for 2022
PRODUCTION PLANS FOR 2022 Development work on Cyberpunk 2077 expansion Development work on a new Witcher game based on Unreal Engine 5 Further support for Cyberpunk 2077 Development work on the next-gen version of The Witcher 3: Wild Hunt Development work at The Molasses Flood on an unannounced proj
Slide 11: A Netflix Original Anime Series
A NETFLIX ORIGINAL ANIME SERIES MTZ ED GERUNNER SA & PROJEKT RED" S< NETFLIN. | CoMING 2022 "1
Slide 12: Financial Results of the CD PROJEKT Group
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 2021 2020 2021 2021 2021 eliminations vs. 2020 Sales revenues 2 138 875 888 172 701 739 199 983 -13 550 -58% Revenues from sales of products 1 839 932 691 564 678 507 8 264 4 793 -62% Revenues from sales of services 2 242 5 865 8 10
Slide 14: CD PROJEKT S.A. – Sales and Costs Provisions
CD PROJEKT S.A. – SALES AND COSTS PROVISIONS (EXCLUDING PROVISIONS FOR BONUSES) Sales* Costs** Provisions in place at the end of 2020 194 537 34 131 New provisions created in 2021 42 635 94 955 Total provisions consumed during 2021 136 236 74 435 Provisions dissolved in 2021 100 936 17 838 Provision
Slide 15: CD PROJEKT Group – Assets
CD PROJEKT GROUP – ASSETS ASSETS 31.12.2020 31.12.2021 change change% Fixed assets 759 999 905 846 145 847 19% Expenditures on development projects 406 798 350 195 -56 603 -14% Other financial assets* 51 588 178 540 126 952 246% Shares in subsidiaries excluded from consolidation 8 195 38 520 30 325
Slide 16: CD PROJEKT Group – Equity and Liabilities
CD PROJEKT GROUP – EQUITY AND LIABILITIES EQUITY AND LIABILITIES 31.12.2020 31.12.2021 change change% Equity 2 183 177 1 894 356 -288 821 -13% Liabilities 707 122 264 379 -442 743 -63% Liabilities 172 432 137 610 -34 822 -20% Deferred revenues 48 721 37 972 -10 749 -22% Provisions 485 969 88 797 -39
Slide 17: CD PROJEKT RED — Product Research, Development & Service Costs
CD PROJEKT RED — PRODUCT RESEARCH, DEVELOPMENT & SERVICE COSTS 160 000 Service costs – released products (P&L – Selling costs) Research costs – new projects (P&L – G&A costs) Development expenditures – new products (Assets – capitalised) 120 000 80 000 40 000 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020
Slide 18: CD PROJEKT Group — Cash Flow
CD PROJEKT GROUP — CASH FLOW 3 000 000 -113 606 2 250 000 -396 472 86 965 -155 401 1 036 886 1 500 000 -503 694 -503 694 2 121 208 908 750 000 874 688 1 154 001 Cash, deposits Net profit for Change in Change in Depreciation Expenditures Dividend Other Cash, deposits and T-bonds the period receivable
Slide 19: Thank You
THANK YOU IR@CDPROJEKT.COM KAROLINA.GNAS@CDPROJEKT.COM 19
Slide 20: 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