Revenue distribution by industry:

• Video games: approx. 85%
• Merchandise and others: approx. 15%

TOP 3 markets and their percentage shares:

• North America: approx. 40%
• Europe (excluding Poland): approx. 35%
• Asia: approx. 15%

CD Projekt S.A. generates the majority of its revenue from the video game industry, especially through successful titles like the "The Witcher" series and "Cyberpunk 2077". The North American market is the largest single market, attributed to the high acceptance and popularity of the games in the USA and Canada.

Europe, excluding its home market Poland, is also a significant market as CD Projekt's games have a strong fan base in many European countries. The Asian market, particularly Japan and China, also shows growth potential, although it currently represents a smaller share of the total revenue.

Main Production Site: Warsaw, Poland

CD Projekt S.A. primarily produces its video games in Warsaw, Poland. The company's headquarters and main development studios are located there. These studios are responsible for the development and production of well-known game series such as "The Witcher" and "Cyberpunk 2077".

In addition, in recent years, the company has expanded its international presence through smaller offices and collaborations in other countries to strengthen its global reach and integrate talents from different regions.

Revenue Growth: Estimated 10-12% annually (2025 forecast)
Investments in new technologies: Increased (2024-2025)
Planned game releases: Several titles by 2026

CD Projekt S.A. is focusing on a strategy that includes both expanding existing game franchises and developing new IPs. The company plans to further expand its presence in the open-world role-playing games sector, supported by the continuation of the popular "The Witcher" series and the further development of "Cyberpunk 2077."

Another focus is on leveraging new technologies, including the implementation of AI and advanced graphics engines to enhance the gaming experience. CD Projekt is also increasing its investment in the development of multiplayer features and plans to diversify its gaming platforms to reach a broader audience.

Furthermore, the company has announced its intention to intensify its efforts in digital distribution to reduce dependence on physical sales and improve margins. This strategy is supported by partnerships and potential acquisitions to accelerate growth and strengthen market position.

Main Imported Materials: Electronic components, software tools, hardware

Countries of Origin: USA, China, Taiwan

CD Projekt S.A., known for the development of video games, mainly imports electronic components and hardware necessary for the development and operation of high-performance computers. These components mainly come from the USA, China, and Taiwan, as these countries are leading in the production of electronics and hardware.

In addition, software tools and development environments necessary for game development are often imported from the USA, as many of the leading software companies are based there. Dependence on these imports is typical for the industry, as specialized technologies and components are often only available from a few international providers.

Competitive Advantage: Moderate to strong (estimated 2025)

CD Projekt S.A. has made a name for itself with its high-quality role-playing games, especially the "The Witcher" series and "Cyberpunk 2077". These titles have gained recognition worldwide and contribute to a strong brand image.

The company's competitive advantage lies in its ability to develop immersive and narrative games that attract a loyal fan base. Additionally, CD Projekt benefits from its independence as a developer and publisher, giving them more creative freedom and control over their products.

However, the company operates in a fiercely competitive market where major publishers like Electronic Arts and Ubisoft are also vying for market share. Continuous technological advancement and the ability to respond to player feedback are crucial to maintaining the competitive advantage.

Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant insider transactions in the last year (2025)

The institutional investor share in CD Projekt S.A. is estimated to be around 45%. This indicates a strong interest from institutional investors in the company, reflecting confidence in the long-term development and stability of CD Projekt.

In 2025, there were no significant insider buys or sells, suggesting that the management and other insiders are currently not making major changes to their stake in the company. This could be interpreted as a sign of stability and confidence in the current corporate strategy.

Market share of CD Projekt S.A.: Estimate 3-4% (2025)

Main competitors and their market shares:

1. Tencent Holdings Ltd: ~15%
2. Sony Interactive Entertainment: ~12%
3. Microsoft Gaming: ~10%
4. Nintendo Co., Ltd.: ~8%
5. Electronic Arts Inc.: ~6%
6. Activision Blizzard, Inc.: ~5%
7. Ubisoft Entertainment S.A.: ~4%
8. CD Projekt S.A.: ~3-4%

Moat of CD Projekt S.A.:

CD Projekt S.A. is known for its strong brands like "The Witcher" and "Cyberpunk 2077", which provide the company with a certain moat in the form of brand loyalty and a dedicated community. These brands have a large following and are highly respected in the gaming community, which represents a significant advantage.

However, compared to its competitors, CD Projekt's moat is less pronounced. Companies like Tencent and Sony have a broader product range, larger financial resources, and a stronger global presence. These factors enable them to react more quickly to market changes and make larger investments in new technologies and game developments.

In summary, while CD Projekt S.A. has a certain advantage due to its strong brands, its moat is limited compared to larger, diversified competitors. The competition often has the advantage of a broader market presence and greater financial resources to solidify and expand their position.

Revenue Growth: 20% (2024 compared to 2023)
Profit Growth: 18% (2024 compared to 2023)
Market Share in the Gaming Sector: 5% (2024)

CD Projekt S.A. achieved strong revenue growth of 20% in 2024, attributed to successful game releases and expansion of the digital distribution platform. The company also increased its profit by 18%, indicating an improved cost structure and efficient production processes.

CD Projekt's market share in the global gaming sector is 5%, demonstrating the company's continued significant role in the industry. Continued investment in new technologies and expansion of the game portfolio could further enhance growth potential.

Given these positive financial developments and the company's strategic direction, CD Projekt S.A.'s stock could present an attractive investment opportunity. However, investors should also consider the volatility of the gaming industry and potential risks such as delays in game releases.

Dividend: No payout (2025)

CD Projekt S.A. has not paid out any dividends in recent years. The company has chosen to reinvest profits into the development of new games and technologies to promote long-term growth. This strategy is common among many technology and gaming companies that are in a growth phase.

The reliability of future dividend payments is therefore difficult to predict, as it heavily depends on the strategic decisions of management and the financial performance of the company. However, analysts note that CD Projekt S.A. continues to invest in its core competencies, indicating a continuation of this policy.