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XTB reports 67% revenue increase in Q3, net profit nearly doubles
XTB’s Q3 2024 results show a 67% revenue jump and nearly doubled net profit, driven by a 60% rise in new clients and increased profitability in index-based CFD trading.
XTB saw strong growth in Q3, with revenue up 67% to PLN 470.2 million and net profit nearly doubling to PLN 203.8 million. The Polish fintech added 108,000 new clients, a 60% rise year-over-year, as active users reached 474,100. Revenue from index-based CFDs surged, now making up 44.9% of total earnings. While CFD trading volume dipped slightly, higher profitability per lot boosted performance.
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Operating costs rose to PLN 208.5 million due to client acquisition and expansion. XTB projects a 20% rise in expenses for 2024, targeting steady client growth each quarter. The board also plans potential dividends of up to 100% of net profit, supported by a strong capital ratio of 207%.
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Last update: Oct 31, 2024