XTB Reports a Solid 183.7% Surge on Its Net Profit during Q1 2022

The Polish retail broker, XTB has published its preliminary financials for the first quarter of 2022, reporting a significant jump of 183.7% in its net profit y/y of PLN 252.6 million. According to the report, its operating income saw a surge of over 135.6% y/y to post PLN 439.8 million, compared to the first quarter of 2021.

XTB’s average number of active clients soared by 44.7% to hit 149,726 for the period, although its number of new clients fell by 17.7% y/y to account for 55,333. Also, its CFD profitability per lot rallied at 68.4% y/y to test the PLN 282 threshold.

Moreover, XTB’s CFD volume surged by 39.9% y/y to hit 1,560,739 compared to the same period last year. Commenting on the financials, XTB noted: “This is a consequence of high profitability on CFD instruments based on the US 100 and US 500 indexes, the German DAX stock index (DE30) or the Russian RUS 50 index. The second most profitable asset class was commodity CFDs. Their share in the structure of revenues in the 1st quarter of 2022 was 30.2% (Q1 2021: 53.8%). The most profitable instruments in this class were CFDs based on quotations of crude oil, gold and natural gas prices.”

On other fronts, XTB stated: “The significant factors determining their level were high volatility in the financial and commodity markets and the constantly growing average number of active clients (increase by 44.7% y/y), combined with their high transactional activity expressed in the number of contracts concluded in lots. Consequently, trading in derivative instruments amounted to PLN 1 560,7 thousand lots (Q1 2021: 1 115,4 thousand lots), and the profitability per lot increased by 68.4%,” XTB pointed out.

Last Quarter's Figures

In Q4 of 2021, the operating income for the quarter came in at PLN 183.6 million. Though the total operating expense increased, the broker ended the quarter with a net profit of 238.3 million, which is 68.9 percent. Additionally, EBIT improved by 47.1 percent year-over-year to 82.9 million.