Separate financial statements of CD PROJEKT S.A. for the period from 1 January to 31 December 2023
(all amounts in PLN thousand, unless stated otherwise)
The attached notes are an integral part of these financial statements.
Table of contents
Key financial data of CD PROJEKT S.A. ............................................................................................................................................................................. 6
Income statement ............................................................................................................................................................................................................... 7
Statement of comprehensive income ........................................................................................................................................................................... 7
Statement of financial position ....................................................................................................................................................................................... 8
Statement of changes in equity .................................................................................................................................................................................... 10
Statement of cash flows .................................................................................................................................................................................................. 12
Notes to the separate financial statements ..................................................................................................................................................................... 14
General information.......................................................................................................................................................................................................... 15
Changes in accounting policies ................................................................................................................................................................................... 15
Going concern assumption ............................................................................................................................................................................................ 15
Quotations on the regulated market ........................................................................................................................................................................... 16
Compliance with the International Financial Reporting Standards.................................................................................................................... 16
Amendments to standards or interpretations effective from 1 January 2023 applicable and adopted by the Company ......... 16
Description of adopted accounting policies ..............................................................................................................................................................18
Revenue and operating expenses .........................................................................................................................................................................18
Finance income and costs ........................................................................................................................................................................................18
State subsidies .............................................................................................................................................................................................................18
Current and deferred income tax ...........................................................................................................................................................................18
Value-added tax (VAT) .............................................................................................................................................................................................. 19
Property, plant and equipment ............................................................................................................................................................................... 19
Intangible assets - Expenditure on development projects ............................................................................................................................ 19
Intangible assets - Other .......................................................................................................................................................................................... 21
Goodwill ......................................................................................................................................................................................................................... 21
Mergers of business entities under common control ...................................................................................................................................... 21
Impairment of non-financial assets ........................................................................................................................................................................ 21
Investment properties .............................................................................................................................................................................................. 22
Rights of perpetual usufruct of land ..................................................................................................................................................................... 22
Leases ........................................................................................................................................................................................................................... 22
Investments in subordinated entities ................................................................................................................................................................... 22
Financial assets ...........................................................................................................................................................................................................23
Financial liabilities .......................................................................................................................................................................................................23
Inventories ....................................................................................................................................................................................................................24
Trade and other receivables ...................................................................................................................................................................................24
Prepayments and accruals .......................................................................................................................................................................................24
Cash and cash equivalents ......................................................................................................................................................................................24
Assets held for sale and discontinued operations ...........................................................................................................................................24
Equity ..............................................................................................................................................................................................................................24
Provisions for liabilities ............................................................................................................................................................................................. 25
Employee benefits ..................................................................................................................................................................................................... 25
Loans granted ............................................................................................................................................................................................................. 25
Trade and other payables ....................................................................................................................................................................................... 25
Payment of dividend ................................................................................................................................................................................................. 25
Functional currency and presentation currency ..................................................................................................................................................... 25
Functional currency and presentation currency .............................................................................................................................................. 25
Transactions and balances ..................................................................................................................................................................................... 26
Critical accounting estimates and judgements ....................................................................................................................................................... 26
Professional judgement ........................................................................................................................................................................................... 26
Uncertainty of estimates .......................................................................................................................................................................................... 26
Assumption of comparability of the financial statements, changes in accounting policies and estimates.......................................... 28
Changes in accounting policies ............................................................................................................................................................................ 28
Presentation changes ............................................................................................................................................................................................... 28
Notes – other explanatory notes to the separate financial statements ................................................................................................................ 29
Note 1. Sales revenue ............................................................................................................................................................................................... 30
Note 2. Operating segments .................................................................................................................................................................................... 31
Note 3. Operating expenses .................................................................................................................................................................................... 31
Note 4. Other operating income and expenses ................................................................................................................................................ 33
Note 5. Finance income and costs ........................................................................................................................................................................ 34
Note 6. Corporate income tax and deferred income tax................................................................................................................................35
Note 7. Discontinued operations ........................................................................................................................................................................... 37
Note 8. Earnings per share ...................................................................................................................................................................................... 37
Note 9. Dividend paid (or declared) and received ........................................................................................................................................... 37
Note 10. Disclosure of other comprehensive income items and their tax effect .................................................................................... 37