XTB Doubles Revenues in Q4, But Misses on Full Year Results

Publicly listed Polish FX and CFDs brokerage XTB has reported its preliminary results for Q4 2019 and the full fiscal year ending on December 31, showing strong numbers across key components of its business on a year-over-year basis.

Compared to a period of weak growth in the fourth quarter of 2018, XTB has seen noticeable gains in its financial figures. More specifically, during Q4 2019, XTB disclosed a total operating revenue of $23.0 million (PLN 89.59 million), which more than doubled year-over-year from $11.23 million (PLN 42.7 million) in Q4 2018.

Also, XTB saw its operating expenses mildly higher in Q4 2019, after seeing a figure of $12.1 million (PLN 47.2 million) – this was up 15.7 percent year-over-year from PLN 40.8 million in Q4 2018.

The most significant change across XTB’s financial results came regarding its net profit, which rose sizably to $9.5 million (PLN 37.2 million) in Q4 2019, which is nearly eight times higher than the $1.1 million (PLN 3.9 million) it earned in 2018.

Financials take a hit YoY

Taking a yearly perspective, XTB reported a consolidated net profit of $14.89 million (PLN 57.9 million), down 43 percent when compared to PLN 101.5 million net profit a year earlier. Consolidated revenues amounted to PLN 239.3 million in 2019 compared to PLN 288,3 million a year earlier.

This inconsistent performance is attributed to weak results in the first half of 2019, where the group posted only $1.34 million (PLN 5.2 million) in net profit, sharply lower than the PLN 115 million it revealed in the same period of 2018.

The company further explains that ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term’s restrictions have had a more severe impact than most CFDs brokers anticipated. Although XTB has been particularly vulnerable to this shake-up, the company sees a unique opportunity to gain market share, with the new Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term from Esma creating a more level playing field for competition.

Coupled with this advance, XTB has registered an increasing number of active accounts with 30,815 as of Q4 2019, growing steadily from 20,568 in Q4 2018, or 50 percent year-over-year. New accounts were also on the uptick, swelling 80 percent year-over-year to 10,424 in Q4 2019, relative to just 5,742 accounts in Q4 2018.

One of the group’s most noteworthy findings was its net deposits, which matched the strong overall financials, jumping to $30.7 million (PLN 119 million), up 52 percent year-over-year from PLN 78.7 million in Q4 2018. Over a yearly basis, the figure rose 23 percent to $105 million (PLN 409 million), up from PLN 333 million in the prior year.