CD Projekt has had the best third quarter in the history of its presence on the stock exchange. The net profit of the company in this period amounted to PLN 98.7 million and was as much as 504 percent higher compared to the same period last year.
PLN 246 million of consolidated revenues that we achieved in this period is mainly the effect of solid sales of Cyberpunk. The Group’s net profit amounted to PLN 99 million, which gives the Group’s profitability at the level of 40%. On the other hand, the profitability of the CD Projekt Red segment alone reached as much as 47 percent.
– commented on the results Piotr Nielubowicz, Vice-President of the Management Board of CD Projekt for Finance.
The EBITDA result (operating profit before deduction of interest on interest-bearing liabilities, taxes and depreciation) in the third quarter reached PLN 148.8 million, which means an increase year-on-year by 246.9 percent. The consensus of analysts’ forecasts assumed a result of PLN 136.3 million.
CD Projekt with an excellent quarter. It’s the Cyberpunk effect
Such excellent results achieved by CD Projekt in the last quarter are primarily the effect of the renaissance of Cyberpunk 2077’s popularity. The game, which was initially considered a huge disappointment – mainly due to terrible optimization – has just returned to favour.
This was due to the 1.6 update released in September, which fixed numerous problems plaguing CD Projekt’s production. The premiere of the Cyberpunk: Edgerunners anime series also had a huge impact on the increased interest in the game
While we had high hopes for the show’s success, its debut surpassed our expectations. In the premiere week, our anime hit the TOP10 of Netflix in 19 countries.
– emphasized the president of CD Projekt, Adam Kiciński.
The popularity of the series and the positive reception of the Cyberpunk 2077 update 1.6 released a week earlier had a measurable impact on the game’s sales. At the end of September, we reported that over 20 million players had bought the game.
– added.
CD Projekt slowly but consistently also makes up for losses in the stock market. Over the last three months, the company’s shares on the Warsaw Stock Exchange have increased by over 58 percent, and are currently valued at PLN 130 (as of Tuesday at 12.00). It is worth recalling, however, that at the end of 2020, i.e. just before the release of Cyberpunk 2077, these shares reached the level of over PLN 400.
CD Projekt on the stock exchange photo: Stooq.pl
Expansion to Cyberpunk 2077 and a new witcher saga. Ambitious plans of CD Projekt
Now CD Projekt is focusing on the first (and only) story expansion for Cyberpunk 2077 – Phantom Liberty. – At the moment, almost 350 people are working on the title. After the release of Phantom Liberty, we will work on the Orion project, which will be another game in the Cyberpunk 2077 universe, said CD Projekt CEO Adam Kiciński.
– Cannis Majoris – a remake of the first installment of The Witcher. The game will be developed on the Unreal Engine 5 engine and will be created by the Polish studio Fool’s Theory, which is partly composed of veterans who worked on the original trilogy.
– Polaris – a new witcher trilogy. We do not know if and how it will refer to the adventures of Geralt of Rivia. We know, however, that CD Projekt intends to release it in a 6-year cycle.
– Sirius – A game developed by The Molasses Flood studio that offers both single-player and multiplayer gameplay.
Source: Gazeta
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