Q1 2025 CD Projekt SA Earnings Call Transcript
Key Points
- Cyberpunk 2077 Ultimate Edition will be a launch title for the new Nintendo Switch 2, marking the first time a CD Projekt SA game is a launch title on a new platform.
- The Phantom Liberty expansion for Cyberpunk 2077 has surpassed 10 million copies sold worldwide, demonstrating strong ongoing interest in the franchise.
- The Witcher 3: Wild Hunt has sold over 60 million copies globally, establishing it as one of the best-selling games of all time.
- CD Projekt SA's financial performance remains strong, with a net profit of PLN86 million for Q1 2025 and a proposed dividend of PLN100 million.
- The company has a robust development pipeline, with Cyberpunk 2 moving into preproduction and The Witcher 4 in the production phase, supported by a team of over 730 developers.
- Sales revenue for Q1 2025 remained flat compared to the previous year, indicating potential challenges in achieving growth.
- Operating costs have increased due to the implementation of a new ERP system and higher costs of incentive programs.
- The timeline for Cyberpunk 2 suggests a release date potentially as late as 2030 or 2031, indicating a long wait for the next installment.
- There is uncertainty regarding the impact of the Nintendo Switch 2 release on overall sales, with no specific guidance provided.
- The company has not provided updates on its mobile project with Scopely, indicating potential delays or challenges in development.
Ladies and gentlemen, thank you for standing by, and I would like to welcome you to CD PROJEKT's Q1 2025 earnings conference call on the May 28. (Operator Instructions) So without further ado, I would now like to pass the line to Mr. Michal Nowakowski, the Joint Chief Executive Officer of CD PROJEKT. Please go ahead, sir.
Hello. Good afternoon. My name is Michal Nowakowski, and I'll be your host during today's conference where we sum up the first quarter of 2025. I will be co-presenting with Piotr Nielubowicz. After the presentation, we will invite you to participate in a Q&A session where we will be joined by Karolina Gnas, our VP and Head of Investor Relations.
Starting off, please let me highlight some truly exciting news for Cyberpunk 2077. On April 2, during the highly anticipated Nintendo Direct Conference, we revealed that Cyberpunk 2077 Ultimate Edition would be a launch title for the brand-new Nintendo Switch 2 debuting alongside the console on
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