Both sales and net profit are up year-over-year at CD Projekt, figures that include sizable gains at its previously precarious PC game storefront GOG.com for the 12 month period ending December 31, 2019.
For the group as a whole, which includes development studio CD Projekt Red, GOG.com, and a handful of other subsidiaries, CD Projekt reported net profit as PLN 175.3 million (~$42.1 million), up from last year’s PLN 109.3 million (~$26.3 million).
Sales came in at PLN 521.3 million (~$125.2 million) for the 2019 fiscal year, up from PLN 362.9 million (~$87.1 million) the year prior. Game sales continue to be the major driver there, with PLN 304.5 million (~$73.2 million) of 2019’s sales coming directly from product sales. Sales from services is the only category that saw a major year-over-year shift, with PLN 38.3 million (~$9.2 million) attributed to that section during 2019 versus only PLN 108,000 (~$42,240) the year before.
While CD Projekt leadership notes that teams are coping well with work-from-home development, any impact on operations or sales from COVID-19, as well as the semi-recent delay of Cyberpunk 2077 from April to September aren’t reflected in the period covered by its 2019 fiscal reports. Any monetary shifts from either will show up in the first quarterly report for 2020 three months from now.
However, CD Projekt Red does note in its end-of-year reporting that isn’t worried about COVID-19 having a significant effect on development or or any other activities for Q1 2020, or the full year for that matter.
“Since mid-March we have been working from home, while ensuring continuity of all our of operations. Our goals haven’t changed; first and foremost, we intend to release Cyberpunk 2077 in September. We feel motivated and have the necessary tools at our disposal to meet this goal. We also believe that our longstanding strategy of avoiding debt and accumulating cash reserves makes us well prepared to meet any hardships which may be in store during these troubled times.”
CD Projekt also mentions in the full report that GOG.com saw its biggest single sale ever with regards to revenue in the first half of 2019, and increased its profit for the year to PLN 2.98 million (~$715,860) versus only PLN 30,000 ($7,200) the year prior. Net sales for GOG.com are up to 162.3 million (~$39 million) from 144.4 million (~$34.7 million) last year as well.