XTB's Q1 net revenu soars by 183%

Polish broker XTB has published its preliminary financial data for the first quarter of 2022, reporting a significant jump of 183.6% in its net profit compared to the previous year, or 252.5 million PLN. According to the report, its operating result increased by more than 135.5% compared to the first quarter of 2021, reaching PLN 439.5 million.

XTB's average number of active customers increased by 44.8% to 149,721 during the period, although the number of new customers decreased by 17.4% year-on-year to 55,332. CFDs per lot increased by 68.5% year-on-year to reach the threshold of 284 PLN.

XTB's CFD volume increased by 40% year-on-year to 1,560,738 compared to the same period last year. Commenting on the financial results, XTB noted: “This is the consequence of high profitability on CFD instruments based on the US 100 and US 500 indices, the German stock index DAX (DE30) or the Russian index RUS 50. The second most profitable asset class was commodity CFDs, their share in the revenue structure in Q1 2022 was 30.5% (Q1 2021: 53.4%). this class were CFDs based on crude oil, gold and natural gas price quotes.

On other fronts, XTB says: “Significant factors determining their level were the high volatility in the financial and commodity markets and the steady growth in the average number of active clients (44.8% increase compared to the last). previous year), combined with their strong transactional activity expressed in number of contracts concluded in lots. Consequently, derivatives transactions amounted to 1,560.5 thousand lots PLN (Q1 2021: 1,115.5 thousand lots), and profitability per lot increased by 68.5%,” XTB points out.

The figures for the last quarter
In the fourth quarter of last year, operating income for the quarter amounted to PLN 183.5 million. Although total operating expenses increased, the broker ended the quarter with a net profit of 238.5 million, or 68.4%. In addition, EBIT improved by 47.7% compared to the previous year, reaching 82.9 million.

About XTB

XTB Group is a leading provider of crypto CFDs alongside 2,100 forex, stock, index, commodity and ETF CFDs. The multi-regulated broker holds licenses with several trusted agencies, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC).

Traders can invest and speculate with up to 1:30 leverage and can use the broker's mobile trading alert service to gain market insight. XTB offers two real accounts, aimed at retail traders and professional investors.