XTB has just published its preliminary financial results for the first half of 2022. During this period, XTB generated a net profit of PLN 480 million, which was 638.4% higher than in the first half of 2021, but also higher by 63.6% than the record result in the company’s history in the first half of 2020, when it was PLN 293.4 million. Significant factors influencing the level of XTB’s results were the persistent high volatility on the financial and commodity markets, caused, inter alia, by constantly tense geopolitical situation and a systematically growing customer base.
In the first half of 2022, XTB generated a net profit of PLN 480.0 million, compared to PLN 65.0 million profit a year earlier.
Operating revenues recorded in the first half of 2022 amounted to PLN 836.2 million, which means an increase by 245% compared to the first half of 2021. In turn, the operating costs amounted to PLN 267.3 million (in the first half of 2021) year: PLN 163.3 million). In the second quarter of 2022, XTB acquired 45.7 thousand. customers, which in combination with 55.3 thousand. new customers in the first quarter gives a total of over 101 thousand. new customers at the end of June. Thus, in both quarters, the company made declarations assuming the acquisition of at least 40,000 jobs on average. customers quarterly. In the second quarter of 2022, the total number of customers exceeded half a million, reaching 525.3 thousand. At the end of June. Particularly noteworthy is the increase in the average number of active clients. In the first half of the year it amounted to 149.8 thousand. compared with 105 thousand. in the first half of the previous year and 112 on average throughout 2021. This translated into an increase in the volume of trading of clients on CFD instruments expressed in lots – in the first half of the year it amounted to 3.05 million transactions compared to 1.99 million in the corresponding period of 2021 (an increase by 53.6%). Profitability per lot, in turn, increased by 125%. The value of customer net deposits also increased by 16.2% (from PLN 1.6 million in the first half of 2021 to PLN 1.95 billion in the first half of 2022). – Our results in the middle of the year show that we are maintaining the development trend when it comes to our business. We constantly say that the basis of our strategy is to build a customer base and provide our customers with the highest quality technology and services. The systematic expansion of the base means that we record an increase in the number of concluded transactions and thus an increase in revenues. The continuing volatility in the markets in the second quarter translated into higher profitability – comments Omar Arnaout, president of the board of XTB. When it comes to XTB’s revenues in terms of the classes of instruments responsible for their creation, in the first half of 2022, index-based CFDs were the most profitable. Their share in the structure of revenues from financial instruments reached 48.9%. This is a consequence of high profitability on CFD instruments based on the US 100 index, the German DAX stock index (DE30) or the US 500 index. The second most profitable asset class were CFD instruments based on commodities. Their share in the revenue structure in the first half of 2022 was 34.8%. The most profitable instruments in this class were CFDs based on quotations of energy resources: natural gas, crude oil and gold. Revenues on CFDs based on currencies accounted for 13.4% of all revenues, where the most profitable financial instruments in this class were based on the EURUSD currency pair. The operating costs in the first half of 2022 amounted to PLN 267.3 million and were PLN 104 million higher than in the corresponding period of the previous year (PLN 163.3 million in the first half of 2021). The most important item was the marketing costs resulting from the marketing campaigns started in the 1st quarter and continued in the 2nd quarter. The company’s development is also associated with an increase in employment, which translated into an increase in the cost of salaries and employee benefits by PLN 33.8 million.
– Our good results in acquiring new clients, combined with expansion on many markets, confirm that XTB is on the right path to the world’s leading investment companies. Building a global brand, however, requires intensive activities, not only in terms of product and technology, but also promotion, in all markets in which we are present. – That is why we will continue our marketing campaigns promoting the investment solutions we offer and tools that facilitate entry into the world of investments: from the platform developed in terms of customer expectations, through daily market analyzes to numerous educational materials. Our activities are complemented by changes in the offer, which are a response to the changing market situation and customer expectations – comments Omar Arnaout.
The author also recommends:
See other phrases most searched for today: Czech koruna exchange rate zloty | pekao stock exchange | How to trade at Plus500 | pge shares | alior stock quotes | lotus shares | cargo pkp stock chart | Follow us on Google News. Search for what’s important and stay up to date with the market! Watch us >>
