CD Projekt reports third best year for profit despite no major launches in 2024
CD Projekt has released its financial results for 2024, reporting its third best year in terms of net profit despite no major launches.
The developer reported a 17.9% decrease in sales to PLN 985 million ($254 million) compared to PLN 1.2 billion ($310.4 million) in 2023.
Its net profit dropped by 2.3% from PLN 481.1 million ($124 million) the previous year to PLN 469.8 million ($121.5 million).
Cyberpunk 2077 and its expansion Phantom Liberty were the main drivers of sales, generating almost PLN 600 million ($155.1 million) in 2024.
As of November 2024, sales of Cyberpunk 2077 topped 30 million copies while Phantom Liberty sold over eight million units.
Also in November, The Witcher 4 entered full-scale production. Project Sirius, a multiplayer game set in the Witcher universe, is in pre-production.
The developer said it has decided to merge The Molasses Flood team into CD Projekt Red “to ensure better alignment in scope and direction” of Project Sirius.
The Witcher remake, announced in October 2022, is in the concept phase, as is the next Cyberpunk project codenamed Orion.
Elsewhere, CD Projekt reported that its development team increased by 10% to over 700 employees since last November, with its primary recruitment focus being on the next Cyberpunk project. It plans to double this team by the end of 2025.
It also announced a collaboration with Scopely during its earning call, for a game based on CD Projekt’s IP.
“Both of our franchises wrapped up an excellent year,” said CD Projekt CFO Piotr Nielubowicz. “Naturally, the results of CD Projekt are primarily driven by sales of Cyberpunk 2077 [and its expansion, Phantom Liberty].”
“The Witcher 3 – despite ten years having passed since its release – continues to attract attention and produces a stable revenue stream. We are very satisfied with the fact that, even in the absence of any major launch, the past year was the third best in [CD Projekt’s] history in terms of net profit.”
