CD Projekt RED 2018 Profits Are Down, Still Plans 250 New Job Positions

A few days ago, CD Projekt Red announced its earnings for its fiscal year of 2018. The numbers are fairly in good shape but are nowhere as close to the year before that.

Although CD Projekt Red saw a fall in revenue and profits last year, despite that, the studio has revealed plans to create around 250 new positions within the company.

CD Projekt Red also held an earnings call on March 27th, where the company discussed all the financial results for the fiscal year 2018.

CD Projekt also talked about its plans for this year’s E3 and their upcoming highly-anticipated game Cyberpunk 2077 as well. You can read the transcript of the press conference here.

Company CFO Piotr Nielubowicz spoke during a presentation about the company’s annual financial report. It has now been confirmed that CD Projekt acquired a plot of land late last year, which gives the possibility of developing 3,000 square meters of office space. This lines up with their plans to create 250 working positions in the company.

“That’s likely less than half the current seating of our company, so we will probably be able to provide 250 new jobs for CD Projekt Red and GOG,” said Nielubowicz.

Although the annual results for CD Projekt are in a fairly stable situation right now, there has been a significant decline in CD Projekt Red’s revenue and profit.

If we take a look at the revenue charts for 2018, it shows that CD Projekt Red’s revenue was €109.1 million the year prior to 2018. While the company made €85 million in revenue in 2018. Profits fell from €47.1 million to €25.6 million.

The company has spent a lot of money on research and development projects for 2018, the amount totals over €56.4 million.

CD Projekt Red’s president Adam Kiciński has said that last year represented the “most intensive period in the group’s history” regarding its focus on creative capabilities.

They are also working on another major RPG. The game might just be released (perhaps alongside Cyberpunk 2077?) somewhere around 2021.