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Home Business The value of the day in Europe – CD Projekt: insufficient progress

The value of the day in Europe – CD Projekt: insufficient progress

(AOF) – The action CD Projekt (-1.65% to 108.80 zlotys) hesitates on the trend to adopt since this morning despite a profit multiplied by more than 2 in the first quarter. However, analysts expected higher profit growth for the Polish video game developer. At Underperformance on the stock, Credit Suisse points out that revenue and operating profit are respectively 10% and 11% below consensus. The analyst consequently reduced his operating profit forecast by 2.8% to 316 million zlotys for 2022.

The Polish video game developer, which had experienced major setbacks with its main game, Cyberpunk 2077, made a net profit of 68.92 million zlotys (14.96 million euros), up 112%. Operating profit for its part jumped 98% to 85.3 million zlotys. At the same time, revenue increased by 9% to 216.15 million zlotys.

“The next-gen version of Cyberpunk, released alongside a major update – namely patch 1.5 – had a positive effect on the game’s perception and sales figures, especially on consoles. We are continuing to improve Cyberpunk, although the team assigned to this task has shrunk considerably. Most of our development capacity is currently devoted to the game’s main, story-driven expansion, which we plan to launch in next year,” said Adam Kiciński, CEO of CD Projekt Group.

On May 25, the company’s board of directors recommended allocating almost 101 million zlotys of the net profit for 2021 to a dividend of 1 zloty per share.

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