CD Projekt Working On Next-gen Of Cyberpunk

Cd Projekt Red recently unveiled that a next-generation version of the game is in the works. However, it is unclear whether the company is working on a PC or the console variant. In the third quarter of 2021, CD PROJEKT continued to work on upgrading Cyberpunk 2077. Besides that, the company was also developing Cyberpunk 2077’s next-gen version during that time. What’s more, the Group has also grown in recent months with the addition of two additional firms.

Moreover, the company also seems to be working on The Witcher 3’s next-gen version alongside Cyberpunk expansion. The President and Joint CEO of the CD PROJEKT Group, Adam Kicinski said: “we carry on with the transformation of our studio, which is affecting more and more production teams”.

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CD Projekt Group’s revenue has increased but its profit is decreasing

The CD PROJEKT Group generated 144 million PLN in revenue in the third quarter of 2021. It is up by roughly 40% from the previous year. The Group’s consolidated net profit was 16 million PLN, which was lower than the reference period.

The company is experiencing a continuous decrease in profit. This year-over-year decrease in net profit is mostly attributable to expenses linked to updating Cyberpunk and exploratory work on new projects that are still in the early stages of development. The accompanying costs are directly disclosed in our current period’s P&L statement. Meanwhile, the company’s financial reserves – cash, bank deposits, and t-bonds – climbed by 55 million PLN in the third quarter, according to Vice President and CFO Piotr Nielubowicz.

CD PROJEKT increased its involvement in M&A activities, as disclosed in the first quarter of 2021 while delivering the Group’s strategy update. Digital Scapes and The Molasses Flood are two new additions to the Group in recent months.

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