XTB has released preliminary financial results for the first quarter of 2024, highlighting an increase in revenue, the number of active clients, and a break-even figure in net profit. Despite challenges in the global markets, XTB attracted 129,700 new clients, representing an year-on-year (YoY) upsurge of 24.5%. The average number of active clients jumped 45.5% YoY to 378,476. According to the firm, this expansion boosted consolidated net profit to PLN 302.7 million.

Revenue and Market Trends

XTB's revenue for the first quarter expanded 3% to PLN 556 million, partly driven by high market volatility . Notably, revenue from CFDs based on commodities accounted for 48.7% of the total revenue, followed by CFDs based on indices and currencies. The company's net profit was PLN 302 million, the same as that of the first quarter of last year.

Additionally, XTB experienced an increase in operating expenses. This was primarily attributed to higher remuneration and commission costs. The company plans to acquire 65-90 thousand new clients per quarter in 2024. Following the positive financial report, XTB plans to recommend dividends ranging from 50% to 100% of net profit.

The firm is expanding its presence in non-European markets, focusing on potential mergers and acquisitions. It aims to obtain the necessary licenses and commence operations in Brazil and Indonesia in 2024. Last month, Finance Magnates reported that XTB had acquired 90% of the shares of the derivatives broker Eagel Capital Futures to become a "gateway to Asia."

XTB's Record Dividend Payout

Recently, XTB recommended an unprecedented dividend payout of PLN 5.02 per share, amounting to over PLN 590 million ($146 million). This payout represents the highest portion of profit distributed among shareholders in the company's history.

XTB's Management Board made the recommendation to allocate 75% of the company's net profit for 2023, totaling PLN 787 million ($195 million), towards dividend payments . With a proposed record date of 5 June 2024 and a payment date of 20 June 2024, shareholders anticipate substantial returns on their investments.

In response to this news, XTB's shares surged to historic highs on the Warsaw Stock Exchange. They briefly gained almost 2%, setting a new high at PLN 62.30.