XTB released its preliminary and operating financial
results for the third quarter, highlighting growth in client acquisition and
profit during the period. The publicly listed fintech company attracted over
108,000 new clients, a 60% increase year-over-year. It also reported a
consolidated net profit of PLN 203.8 million, nearly doubling its earnings from
the previous year.
Revenues and Profits
XTB’s financial results for Q3 2024 revealed a
consolidated revenue of PLN 470.2 million, marking a 67.3% increase compared to
the same quarter in 2023. The firm attributed the significant revenue growth to
heightened market volatility observed in July and August, which reportedly facilitated
sustained trading activity.
The active client base surged 68.7%, reaching 474,100 individuals. The volume of CFD transactions dipped slightly to 1,912,400 lots, down from 2,011,500 lots in the same period last year. However, profitability per lot increased, rising from PLN 140 to PLN 246.
XTB’s revenue mix further emphasizes the shift in
trading interests, with CFDs based on indexes now contributing 44.9% of total
revenues, a significant jump from 25.4% the previous year. This shift reflects
the rising profitability of indices like the US 100, German DAX, and US 500.
Operating Expenses
Operating expenses in Q3 2024 increased to PLN 208.5
million, a rise of PLN 43.5 million from the previous year. Key areas of
expenditure included salaries, marketing, and commissions paid to payment
service providers. The Management Board anticipates operational costs may
rise by approximately 20% throughout 2024, driven by ongoing client acquisition
efforts and geographical expansion.
The company aims to maintain its trajectory by
acquiring an average of 65,000 to 90,000 new clients quarterly. With a total of
129,700 new clients in Q1, 102,600 in Q2, and over 108,100 in Q3, XTB is
well-positioned to meet its ambitious targets.
XTB’s management board reportedly plans to recommend
dividend payments between 50% to 100% of the standalone net profit, contingent
upon factors such as future profitability and capital adequacy ratios. As of Q3 2024, XTB’s total capital ratio stood at a
notable 207%, indicating a strong capacity to manage risk while fostering
growth.
XTB released its preliminary and operating financial
results for the third quarter, highlighting growth in client acquisition and
profit during the period. The publicly listed fintech company attracted over
108,000 new clients, a 60% increase year-over-year. It also reported a
consolidated net profit of PLN 203.8 million, nearly doubling its earnings from
the previous year.
Revenues and Profits
XTB’s financial results for Q3 2024 revealed a
consolidated revenue of PLN 470.2 million, marking a 67.3% increase compared to
the same quarter in 2023. The firm attributed the significant revenue growth to
heightened market volatility observed in July and August, which reportedly facilitated
sustained trading activity.
The active client base surged 68.7%, reaching 474,100 individuals. The volume of CFD transactions dipped slightly to 1,912,400 lots, down from 2,011,500 lots in the same period last year. However, profitability per lot increased, rising from PLN 140 to PLN 246.
XTB’s revenue mix further emphasizes the shift in
trading interests, with CFDs based on indexes now contributing 44.9% of total
revenues, a significant jump from 25.4% the previous year. This shift reflects
the rising profitability of indices like the US 100, German DAX, and US 500.
Operating Expenses
Operating expenses in Q3 2024 increased to PLN 208.5
million, a rise of PLN 43.5 million from the previous year. Key areas of
expenditure included salaries, marketing, and commissions paid to payment
service providers. The Management Board anticipates operational costs may
rise by approximately 20% throughout 2024, driven by ongoing client acquisition
efforts and geographical expansion.
The company aims to maintain its trajectory by
acquiring an average of 65,000 to 90,000 new clients quarterly. With a total of
129,700 new clients in Q1, 102,600 in Q2, and over 108,100 in Q3, XTB is
well-positioned to meet its ambitious targets.
XTB’s management board reportedly plans to recommend
dividend payments between 50% to 100% of the standalone net profit, contingent
upon factors such as future profitability and capital adequacy ratios. As of Q3 2024, XTB’s total capital ratio stood at a
notable 207%, indicating a strong capacity to manage risk while fostering
growth.
This post is originally published on FINANCEMAGNATES.
