CD Projekt's full-year net profit falls 2.3%

GDANSK (Reuters) -Poland's biggest game developer CD Projekt on Tuesday posted a 2.3% decline in full-year net profit, having not released a new game last year.

Net profit was 469.9 million zlotys ($122 million) beating the 390 million zlotys expected in Reuters poll of analysts.

Revenue fell nearly 20% to 985 million zlotys.

In September 2023 CD Projekt released the long-awaited expansion to its flagship game "Cyberpunk 2077", which boosted results for that year.

The company now faces a couple of years without a major game release and its revenue for the coming quarters will mainly come from sales of existing games.

"Results of the CD Projekt Group are primarily driven by sales of 'Cyberpunk 2077'. The base game, along with its 'Phantom Liberty' expansion, generated nearly 600 million zlotys in earnings," finance chief Piotr Nielubowicz said in a statement.

"We are very satisfied with the fact that, even in the absence of any major launch, the past year was the third best in the group’s history in terms of net profit."

In November 2024 cumulative sales of "Cyberpunk 2077" topped 30 million copies, while the "Phantom Liberty" expansion had sold more than 8 million copies.

"This year "Cyberpunk 2077: Ultimate Edition" will appear on macOS, allowing us to reach a new group of gamers," joint CEO Michal Nowakowski said in a statement.

"We are also working to expand the Cyberpunk universe. In 2024 we announced a new animation project, which is currently under development and which will be released on Netflix."

($1 = 3.8517 zlotys)

(Reporting by Adrianna EbertEditing by David Goodman)

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