You are not logged in.

  • Index
  •  » Broker News
  •  » XTB stock price back to its pandemic highs after solid 3Q figures

#1 09-11-2022 19:04:00

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 3368

XTB stock price back to its pandemic highs after solid 3Q figures

XTB stock price back to its pandemic highs after solid 3Q figures
XTB, Poland's premier forex broker, released a strong financial report for the third quarter of  this year, reporting net income of PLN 258.75 million. The figures published yesterday confirm the preliminary data published at the end of last month and once again strengthen the broker's position on the Warsaw Stock Exchange. The stock price has recovered to pandemic highs and is now just 2% off a new all-time high.

According to the company's final quarterly figures, total operating income amounted to PLN 390 million, an increase of PLN 190 million compared to the same quarter of the previous year. Total operating expenses also increased, but not enough to negatively affect the net profit of PLN 235 million. Compared to the profit of PLN 103 million declared last year, the figures have increased significantly by 125%.

Since the start of the year, XTB has acquired 141,000+ new clients, compared to 145,000+ in 2021. Although this was a slight decline, the number of active customers stood at a record high, reaching 223,000+, compared to 159,000+ a year earlier. This translates to a 40% year-over-year increase.

"The ambition of the Management Committee in 2022 is to acquire, on average, at least 40,000 new clients per quarter. Thanks to the activities implemented, the Group acquired in the first quarter of this year 56,000+ new clients and in the second quarter of this year almost 44,000+ new clients, while in the third quarter of this year almost 44,000 new clients. In turn, in October, XTB acquired 17,000 new clients, said the company in its financial report.

XTB shares hits a 27-month high

A report confirming preliminary results released in October sent XTB shares higher for the fourth straight session yesterday. The intraday high was set at 28.75 PLN, testing its highest levels since July 27, 2020. At the time, investors paid 29.25 PLN per share; currently, we are within 2% of a new all-time high.

Shares of XTB have gained nearly 795% since the start of the pandemic, and in 2022 alone, shares are up 66%. By comparison, another publicly traded broker, , has gained less than 200% since the pandemic low nearly 3 years ago and is up 34% this year. is down 4% year-to-date (YTD) and gained 50% since March.

"The development of technology makes investing more and more accessible and common. That is why we are constantly modifying our offer and making changes to it, which should increase the interest of our services for new and existing customers. "In addition, we have intensified our advertising campaigns using brand ambassadors. Thanks to all this, we are strengthening our position in the market for global investment companies every quarter," says Omar Arnaout, CEO of XTB.

About XTB

XTB Group is a leading provider of crypto CFDs alongside 2,050 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).

Clients 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.

"Anything worth having is worth going for - all the way." - J.R. Ewing


  • Index
  •  » Broker News
  •  » XTB stock price back to its pandemic highs after solid 3Q figures

Board footer