CD Projekt Semi-annual report: revenue growth by 29% and no data on Cyberpunk 2077 sales

CD Projekt has published a financial report for the first half of 2021 (ended June 30). Revenue grew by almost 30%, but the company still does not disclose data on sales of specific games. CD Projekt also shared information about the next generation versions of Cyberpunk 2077 and The Witcher 3, refusing to name the exact release dates.

Key data from the reportThe company’s total revenue for the first half of the year amounted to 471 million Polish zlotys ($124 million) — an increase of 29.3% year-on-year.

• Sales of physical copies increased by only 5% year-on-year and amounted to 53 million Polish zloty ($13.9 million). But sales of digital goods jumped by 32% and amounted to 403 million Polish zloty ($ 105.9 million).
• 78% of the revenue came from game sales. They amounted to 359.9 million Polish zloty ($94.5 million). The main drivers of growth were Cyberpunk 2077 and The Witcher 3. The company did not name exact data on sales of individual games.
• Net profit amounted to 105 million Polish zlotys ($27.6 million) — a drop of 28% year-on-year.
• The entire profit came from the CD Projekt RED gaming division — 109.5 million Polish zloty ($28.7 million). But the GOG store lost 4.4 million Polish zloty ($1.1 million) in six months.
• CD Projekt’s expenses for the development of current projects, as well as support and depreciation of Cyberpunk 2077 in the first half of the year amounted to 365.5 million Polish zloty ($96 million) — an increase of 68.2% year-on-year.

The ratio of profit to various expenses of the companyBased on the experience of the problematic launch of Cyberpunk 2077, CD Projekt, in a conversation with investors, refused to name the exact release date of the version of the game for nextgen consoles.

• The company is still aiming for the end of 2021, but “cannot say with full confidence that the date will not change.” The same applies to the next generation version of The Witcher 3, which Saber Interactive is developing.
• CD Projekt has assured that support for Cyberpunk 2077 will continue for as long as it takes. “Our ultimate goal is to fulfill the promise made to gamers and regain their trust. We are doing everything to make Cyberpunk 2077 reach its potential and become successful in the long term,” the company said.
• Judging by the published schedule, CD Projekt has also begun to gradually reduce the Cyberpunk 2077 support team. Now a lot more people are developing the first major add-on for the game. The team working on other projects has also expanded.

Distribution of CD Projekt employees by projects (data for December 31, 2020 and June 30, 2021)