Half Year 2024 CD Projekt SA Earnings Call Transcript
Key Points
- CD Projekt SA (OTGLF) reported a significant increase in group sales revenue for the first half of 2024, reaching PLN425 million, driven primarily by the success of Cyberpunk and its expansion, Phantom Liberty.
- The company achieved an 88% increase in net profit compared to the previous period, amounting to PLN170 million, with a net profitability of 40% for the group.
- The company has been successful in maintaining strong community engagement and sales longevity through initiatives like free trials, seasonal sales, and mod kits.
- CD Projekt SA (OTGLF) continues to invest in future growth, with a PLN34 million increase in property, plant, and equipment, including a new building on their Warsaw campus.
- The company has a healthy financial reserve, with cash, bank deposits, and bonds totaling PLN1.37 billion at the end of June 2024.
- The first half of 2024 was a quiet period for CD Projekt SA (OTGLF) in terms of big announcements, with a focus on development rather than new releases.
- Operating costs increased due to the amortization of Phantom Liberty and Cyberpunk, impacting overall financial performance.
- The company experienced a decrease in trade receivables by PLN110 million, which could indicate challenges in collecting payments.
- There were no one-off transactions to support results in 2024, unlike the previous year, which had a positive balance from partial reversals and write-offs.
- The company is still in the early phases of several projects, such as Orion, Canis Majoris, and Hadar, which require more time and resources before reaching the pre-production stage.
Good afternoon.
Hello, and welcome to this -- hello, and welcome to the CD Projekt half year 2024 conference call. My name is George; I'll be coordinator for today's event. Please note, this conference is being recorded. (Operator Instructions)
I'd like to turn the call over to your host today, Mr. Michal Nowakowski, to begin this conference. Please go ahead, sir.
All right. Thank you, George. Sorry for jumping the gun a little bit. Good afternoon, everybody. My name is Michal Nowakowski, and I'll be your host during today's conference, where we will sum up the first half of 2024.
I will be copresenting with Piotr Nielubowicz. And after the presentation, we invite you to participate in a Q&A session.
With all hands on deck focused on development, the first half of 2024 can be seen as a quiet
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
