XTB Q1 2024 Financial Results Released: Revenues Grow and Active Clients Surge

Stock exchange-listed FX and CFDs broker XTB released its preliminary financial and operating results for the first quarter of 2024 on April 29, 2024. The company saw growth in several metrics, such as total operating income, net profit, and new clients.

In the first quarter of 2024, XTB reached a record level of revenues of PLN 556 million (an increase of 3.4% y/y). Significant factors determining the level of revenues were high volatility in the financial and commodity markets and the constantly growing number of active clients, connected with their high transaction activity expressed in the number of CFD contracts concluded in lots (increase by 6.5% y/y). The transaction volume in CFD instruments amounted to 1,964.9 thousand lots (Q1 2023: 1,845.2 thousand lots), and profitability per lot amounted to PLN 283 (Q1 2023: PLN 291).

The operating costs in the first quarter of 2024 amounted to PLN 204.7 million and were PLN 20.5 million higher compared to the same period a year earlier (Q1 2023: PLN 184.2 million).

The company achieved a net profit of approximately PLN 303 million for the period, increasing from PLN 249 million in the last quarter but decreasing slightly from 302,814,000 in the first quarter of 2023.

XTB has a solid foundation in the form of a constantly growing client base and the number of active clients. In the first quarter of 2024, XTB reported another record in this area, acquiring 129,747 new clients compared to 104,206 a year earlier, which means an increase of 24.5%. Similarly to the number of new clients, the number of active clients was also a record high. It increased from 260,095 to 378,476, i.e. by 45.5% y/y.