CD Projekt makes $33 million net profit in H1 2017, joins FTSE Emerging Markets index

#1
CD Projekt has published its financial results for the first half of this year. In that period they've generated a net profit of 118.5 million PLN ($33 million), beating the consensus/expectations by 21.5%. The Witcher series continues to generate profits for the company. Indeed CDPR generated majority of the profit, with GOG responsible for just over $3.5 million in net profit (12.5 million PLN).

Furthermore, the company sits on over $200 million in cash (796 million PLN) and is in an overall good financial situation. Three months ago they paid out a dividend of $28 million to their shareholders.

In other news, CD Projekt is about to join the FTSE Emerging Markets (Mid Cap) index on 15/09/2017.

CD Projekt is currently worth over $2.2 billion.

Other bits and pieces:

- GOG has over 2100 games in its catalogue from over 550 developers and publishers
- CD Projekt has offices in Warsaw, Krakow, Shanghai and LA. The latter 2 do not take part in game production.
- 97% of CD Projekt's income came from export, with 60% representing clients in the US and 24.4% those in the EU.
- CD Projekt employs ~700 employees. 550 at CDPR and 150 at GOG

Breakdown of the shareholders is as follows:

- Freefloat (56,27%)
- Marcin Iwiński (12,64%) - cofounder
- Michał Kiciński (10,91%) - cofounder
- Piotr Nielubowicz (6,38%)
- Adam Kiciński (3,46%) - CEO
- Nationale-Nederlanden PTE (5,20%) - investment fund
- AVIVA OFE (5,14%) - investment fund

Video presentation https://www.youtube.com/watch?v=D_D8esnkpEw

Full financial report (in Polish)
 
#4
And they earned every bit of it.

They put out a great product in the Witcher 3 and have concrete plans for the future. I do hope they get Cyberpunk out while their iron is still red hot (but not rushed). I also hope they don't buckle under the pressure now that they went from a small computer developer to a massive AAA studio. They look like they have a handle on it so far.

I'm there for their next game, day 1, preordered, and everything else.
 
#5
As ever, good to hear of their continued success.

The cash reserve situation is also pleasing to hear; I remember reading on how the Witcher 3 required taking out a massive loan, so hopefully that won't be so necessary in future.
 
#7
As ever, good to hear of their continued success.

The cash reserve situation is also pleasing to hear; I remember reading on how the Witcher 3 required taking out a massive loan, so hopefully that won't be so necessary in future.
It's worth adding that they currently have no outstanding loans
 
#9
A studio that deserves all profits they make! So now CDR please give us some infos about the X1X and PS4Pro 4K updates in the making!
 
#10
Great to hear that they're successful. The more financial power behind them, the more quality of a title Cyberpunk 2077 becomes.

This company deserves all the success that comes its way.
 
#13
It's worth adding that they currently have no outstanding loans
Yeah, figured they'd already paid that one off, so that's 200 million free to support themselves with.

Edit:
That's great for them, but isn't that kind of low for a company like them?
They're a developer that has published the one game series. They're doing exceedingly well in that regard.

Now if you're talking in terms of GOG, then they just can't hold a candle to Steam for market share.
 
#15
That's great for them, but isn't that kind of low for a company like them?
Well, they haven't released any game since may 2016 and yet they are still making solid net profit while investing in Cyberpunk, Gwent, GOG Galaxy, Gwent Tournaments and marketing etc. They are doping extremely well and they are beating the expectations of market analysts.
 
#17
Their next game is going to do bonkers sales. I'm so glad for them. Was with them from the beginning as a small janky euro outfit.
 
#30
One thing I seem to have skipped is rather important:

Czynnikiem kluczowym dla utrzymania w przyszłości dotychczasowej wysokiej dynamiki rozwoju prowadzonej działalności jest dalsze rozwijanie wewnętrznej umiejętności produkowania gier najwyższej światowej klasy i jakości, w połączeniu ze zdolnością efektywnej komunikacji z graczami na całym świecie. Od strony zarządzania realizowanymi projektami posiadanie dwóch linii produktowych – Wiedźmin/The Witcher i Cyberpunk oraz niezależnych zespołów deweloperskich umożliwia prowadzenie równoległej produkcji poszczególnych projektów i wyrównanie planu wydawniczego w kolejnych okresach. Zmiana działalności na model wydawniczy oparty o dwie funkcjonujące równolegle marki i kilka równocześnie realizowanych projektów potencjalnie pozwoli na optymalizację produkcyjną i finansową oraz dalszą dywersyfikację ryzyk, a przed twórcami zatrudnionymi w Spółce otworzy więcej możliwości samorealizacji zawodowej.
The key factor for maintaining the high dynamic growth of our business in the future is to further develop our internal skills to produce world-class games of the highest quality, coupled with the ability to communicate effectively with players around the world. Owning two product lines - The Witcher and Cyberpunk and independent development teams - enables the parallel production of individual projects and aligns the publishing plan in successive periods. Changing activity to a publishing model based on two parallel-running brands and several simultaneous projects will potentially allow for product and financial optimisation and further diversification of risks, and will open more opportunities for professional developers to work for the company.
 
#32
The fuck? So the Witcher guys are not making Cyberpunk? That's pretty cool. They could turn into the new Ubisoft in 10 years.
The Witcher guys are making Cyberpunk, but CDPR has already announced that they are going to release 2 AAA games by 2021. It seems that the second game (which will have to start soon) is most likely to be the next Witcher.
 
#41
Enjoy. The books are fantastic.
They really are. I still haven't read the last one, which was finally translated into English in March.

CDPR deserves the high praise for their adaptation of the book material - much of the locations, landscape, and characters were just spot-on. Geralt, Ciri, and Yennefer in particular were exactly how I imagined them from the books.
 
#42
Well deserved. I remember being negative with W3 expansion announcement before the game but boy did they deliver.

Can't wait for the next big RPG.
 
#45
It already was ages ago. Needless to say, my hype for Cyberpunk is lowered by the fact The Witcher is coming back. It's like when Bethesda releases a Fallout, they're nice and all, but TES is where it's at.
Not for me. I find the cyberpunk setting a million times more interesting. Can't wait for the gameplay reveal.

E3 2018 probably. Such a long wait.
 
#46
Great news! If I knew how to buy their shares, I would.

As much as everyone is keen for Cyberpunk, I'm more looking forward to the next Witcher.
 
#47
Two more bits that may be of interest to some:

CD Projekt employs ~700 employees. 550 at CDPR and 150 at GOG. Source

Breakdown of the shareholders is as follows:

- Freefloat (56,27%)
- Marcin Iwiński (12,64%) - cofounder
- Michał Kiciński (10,91%) - cofounder
- Piotr Nielubowicz (6,38%) - CFO
- Adam Kiciński (3,46%) - CEO
- Nationale-Nederlanden PTE (5,20%) - investment fund
- AVIVA OFE (5,14%) - investment fund

Healhy growth, no debts and sizeable cash reserves. Now if we could only get some Cyberpunk news, ehhh.

Great job as always, Boskee.
Thank you :)
 
#49
Two more bits that may be of interest to some:

CD Projekt employs ~700 employees. 550 at CDPR and 150 at GOG. Source

Breakdown of the shareholders is as follows:

- Freefloat (56,27%)
- Marcin Iwiński (12,64%) - cofounder
- Michał Kiciński (10,91%) - cofounder
- Piotr Nielubowicz (6,38%) - CFO
- Adam Kiciński (3,46%) - CEO
- Nationale-Nederlanden PTE (5,20%) - investment fund
- AVIVA OFE (5,14%) - investment fund



Thank you :)
If they're worth 2.2Billion, that means Marcin is worth > 250$ million... got damn