CD Projekt has about 26,5 million złotys (~$8,32 million), which allows the company financial independence, which is a "key factor to success", said CD Projekt CEO Adam Kiciński.
"Currently, we are working on two large productions (The Witcher 3: Wild Hunt and Cyberpunk 2077) and two smaller titles (the first one will launch after the new Witcher). We need a financial base to fund our publishing plans. This gives us financial independence, which is a key factor to success. It's good to have a financial background in this industry. It allows you to work on even cooler projects and maintain a high margin, since you don't need to depend on advance payments from distributors" - said Kiciński during the conference.
Vice President and CFO Piotr Nielubowicz pointed out that The Witcher 2 cost 33 million zł (~$10,36 million). Currently, the company has it in stock at 7 million zł (~$2,19 million), which will be "activated" along with further sales. Concurrently, "work in progress", including The Witcher 3 and Cyberpunk, is valued at 25 million zł (~$7,85 million).
"We have reduced debt to "unnoticable" levels. Operating cash flow following the first half of the year amounted to 6,3 million zł (~$1,97 million). The development of Witcher 3 and Cyberpunk cost 9 million zł (~$2,82 million) in the first half 2013" - added Nielubowicz.
CD Projekt CEO pointed out that in the run-up to next year's release of The Witcher 3, the company is negotiating further distribution agreements.
"We already have an agreement with Warner Bros and we're conducting further negotiations. We've divided the globe into areas, allowing optimal financial conditions in different territories. In total, we want to have upwards from ten distribution agreements. In addition, we want advance payments from distributors for each geographical area as a contribution and expression of faith in our product " - stressed Kiciński.
The group consists of CD Projekt RED - developer of video games in the RPG genre, GOG - global digital game distribution platform (over 7,5 million games downloaded) and CDP.pl - video game(among others: Blizzard, Sega) and DVD/Blu-ray (among others: Disney, Discovery) distributor in Poland.
