Poland · Delayed Price · Currency is PLN CD Projekt Earnings Call Transcripts
Fiscal Year 2026
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The meeting approved all agenda items, including the election of the chair and the adoption of an incentive program for 2026–2029 totaling PLN 5 billion. All resolutions passed, with the incentive program receiving strong majority support.
Fiscal Year 2025
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2025 saw strong revenue and profit growth, driven by Cyberpunk and Witcher franchises, with major investments in development and infrastructure. The sale of GOG sharpened focus on game development, and ambitious profit targets remain in place.
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Q3 2025 saw a 53% year-over-year revenue increase to PLN 350 million, driven by Cyberpunk 2077 sales, new platform launches, and a one-off PlayStation Plus deal. Net profit surged to PLN 193 million, with strong cash reserves and ongoing investments in development and infrastructure.
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H1 2025 saw 4% revenue growth to PLN 443 million, 20% EBIT growth, and a 35% net margin, driven by strong sales of The Witcher and Cyberpunk franchises, new platform launches, and increased development investment. Workforce expanded 10% as major projects advanced.
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The meeting approved 2024 financials, a 100 million PLN dividend, and all board discharges. Key amendments to the articles of association and incentive programs were adopted, and new share buyback authorization was granted for employee incentives.
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Q1 2025 revenue was stable at PLN 226 million, with EBIT up 18% and net profit at PLN 86 million. Major milestones include the upcoming Cyberpunk 2077 Switch 2 launch, Witcher 3 surpassing 60 million sales, and strong cash reserves supporting dividends and buybacks.
Fiscal Year 2024
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2024 saw strong sales from Cyberpunk and stable Witcher revenues, with net profit at PLN 470 million and financial reserves rising to PLN 1.47 billion. The Witcher 4 entered full production, and a new dividend policy was introduced. Major projects and investments continue to drive growth.
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The meeting approved key changes to the Supervisory Board, amendments to the Articles of Association, and a new 4 billion PLN incentive program, with most resolutions passing by large majorities. Shareholders raised questions about dividend policy and incentive targets, while management cited strategic plans and confidentiality.
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Q3 2024 revenue was PLN 228 million, with net profit up 12% sequentially to PLN 78 million. Cyberpunk 2077 and The Witcher franchises continue to drive strong results, while R&D investment and team expansions support future projects.
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H1 2024 saw a 33% revenue increase and 88% net profit growth, driven by strong catalog sales and cost control. Financial reserves rose to PLN 1.37 billion, supporting ongoing development and a PLN 100 million dividend.
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The meeting approved the 2023 financial statements, profit allocation, and a PLN 1 per share dividend. All board members were granted discharge, and a new remuneration policy was adopted. All resolutions passed with strong support.