That actually concerns me a bit. Are they really that healthy to expand that much, i wonder.

Well Warface is aparently doing well (over 5 million players in Russia alone aparently) and they are expanding their GFace F2P games platform and their engine licensing business seems to be picking up. Plus they earn a lot of money doing work for non gaming related industries like military sims, simulations for companies like General Electric and big Oil etc, they also provide their engine to film companies to do pre-vis work etc. They are actually a pretty diverse company.

Or in Cevat Yerli's own words (Interview is a bit old)

"I'm curious what has allowed Crytek to grow so quickly. You said earlier you have six studios. You have only released, I think, three games in some ten years. What is driving that growth?

CY: Part of it is that we have a very good secretive engine business. We have some other contracts going on as well for some other non-game industries. From that perspective, it's been a good, privileged position to be able to do that and also work on our own IPs.

Working with a partner like EA also brings in funds. Our most recent game is signed up with Microsoft as well, which helps us bring in finances to develop technology and awesome games.

So you actually do a fair amount of engine licensing? There aren't as many press releases as there are for, say, Unreal.

CY: Yes, especially with CryEngine 3. Since March, we've been doing very well with that.

What kind of non-game stuff do you do?

CY: There is a whole industry in serious games, and we have a lot of contracts going on from gas and oil companies, General Electric, all the way to SOCOM. We have a lot of military companies working with our technology, in fact.

So you provide simulation and training software?

CY: Technologies, simulations, contract work, whatever they need and whatever they want. We have a studio for serious game development. That studio is a subsidiary of Crytek, but it's not called Crytek. It's studio number seven -- so secret I didn't even mention it! [laughs]

Does it seem overwhelming to have seven studios at this point, again, especially given your output level?

CY: Every studio has its own head of production and studio management. We grew our infrastructure first before we grew with the game development itself. Obviously, it's a challenge to maintain quality everywhere, but it's effectively my day-to-day job to make sure that happens."

I updated my post with a list of studios and what they work on

Cheers, this and your other comments have been really helpful

I do, however, hope that they don't turn "Crytek USA" into another mobile developer

AAA Free to play online games by the sound of things...

"It would be pretty much safe to say that this team will be working on online games," he said, adding that the new team at Crytek USA will focus on "online games and kick-ass triple-A productions. It is going to be quite a significant investment for Crytek over the next five years."

http://gamasutra.com/view/news/185585/Interview_What_Vigils_core_team_is_up_to_at_its_new_Crytek_home.php#.UQe2jmRkO9W

The "and kick-ass triple-A productions" part leaves a glimer of hope we may get a big AAA type game with a singleplayer campaign like Vigil are known for but sadly probably not. 

Most of them are proper studios but many are smaller focused on mobile games etc. They also do military simulation type work as well. And then there is Crytek Korea and Crytek Shanghai which pretty much just handles engine licensing and support for local devs as well as localising their free 2 play projects.

Edit:

Crytek Frankfurt: Main studio Far Cry, Crysis, Ryse etc

Crytek UK: Ex Free radical working on Homefront 2, did multiplayer for Crysis 2 & 3

Crytek USA: New studio, ex Vigil staff

Crytek Ukraine: Warface free 2 play games

Crytek Black Sea: No idea what they are working on now, used to make strategy games before they were aquired 

Crytek Budapest: Crysis Warhead, Mobile games, were working on Ryse but that was moved to Frankfurt and they were changed to mobile only

Crytek South Korea: Engine licensing, localisation

Crytek Istanbul: works on other games like Warface

Crytek Shanghai: Engine licensing, localisation