XTB‘s Q1 financials reveal revenue growth and a 45% rise in active clients. Despite global market challenges, XTB attracted 129,700 new clients, with active client numbers hitting 378,476. This drove consolidated net profit to PLN 302.7 million.
Revenue and market dynamics
Revenue increased 3% to PLN 556 million, driven by market volatility. Commodity-based CFDs contributed nearly half of total revenue. Operating expenses rose due to higher remuneration and commission costs. XTB plans to acquire 65,000 to 90,000 new clients per quarter in 2024.
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Expansion strategies and record dividend
XTB aims to expand in non-European markets, eyeing potential mergers and acquisitions. It seeks to start operations in Brazil and Indonesia in 2024. Recently, it recommended a record dividend payout of PLN 5.02 per share, totaling over PLN 590 million.
Market response and stock performance
XTB’s shares surged on the Warsaw Stock Exchange, briefly reaching PLN 62.30, driven by positive financials and dividend prospects.
