CD Project explained that its net profits for the first quarter of 2021 were below market expectations, dropping 65% to 32.5 million Złoty (7.3 million euros), in part due to the costs involved in fixing Cyberpunk 2077.
The info was shared during CD Projekt’s first quarter 2021 financial presentation, where it is stated that, despite lower than usual net profit, the company is experiencing “a record positive cash inflow. “
The aggregate balance of cash, bank deposits and bonds of CD Projekt’s treasuries increased by 1 billion Złoty (223.3 million euros) to a total of 1.9 billion Złoty (424 million euros) . Of which 500 million (111 million euros) “allocated to dividends, at 5 Złoty per share, paid on June 8.
As for the decline in profit for the first quarter of 2021, CD Projekt CFO Piotr Nielubowicz explains that it is largely due to the work involved in fixing Cyberpunk 2077 issues.
“The lower than usual net profit is mainly due to a constant underestimation of Cyberpunk 2077 development expenses, and R&D activities related to future projects. These expenses are recognized as costs for the current period and are not subject to capitalization, ”Nielubowicz clarified in his statement.
CD Projekt Group President and Co-CEO Adam Kiciński also says the company intends to “keep promises made to gamers in January” regarding Cyberpunk 2077, while preparing internal changes related to the strategy of developing two big AAA projects in parallel.
During his presentation, CD Projekt shared a timeline of “his involvement in making Cyberpunk 2077 a long-term success,” and we can still see free DLC, and next-gen releases slated for later this year, with no forget about multiple patch and updates.
The company also offers a “stability improvement for Cyberpunk 2077” graph which shows that the number of crashes has decreased with each successive patch.
As to whether Cyberpunk 2077 is finally going to return to the PlayStation Network store, Axios’ Stephen Totilo recently tweeted that CD Projekt Red said with “measures to be achieved required by Sony.” “
“We cannot detail where we are on that side,” says CD Projekt. “But there is a procedure. We are in the middle of it … We are discussing it … The decision will be announced when it is ready. “
CD Projekt reiterates that in addition to the next-gen versions of Cyberpunk 2077, the developer plans to release PS5 and Xbox Series X / S versions of The Witcher 3, as well as the augmented reality mobile game The Witcher: Monster Slayer.
Erwan Lafleuriel is Editor-in-Chief of IGN France. A video game slave for 40 years, he only escapes occasionally to mourn his defeats on Twitter.