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February 6, 2023

XTB financial results with EUR 163.3 mm net profit in 2022

February 6, 2023 - XTB announced preliminary financial results for 2022 which showed that the company generated a consolidated net profit of 163.3 EUR million which was higher by 214.4% than in 2021.

Despite high volatility in the financial and commodity markets, XTB were able to increase both revenues and customer account growth.

Operating revenues over the period reached 308.1 EUR million, an increase oof 125% on the 136.7 EUR million in 2021. 

In 2022, growth in the client continued with base and the number of active clients with  over 196,000 new clients added during the period with a total level over over 600,000 clients now.

In Q4 there were 161,000 thousand active clients compared to 127,000 the same period in 2021, leading to a 60.3% increase in the volume of trading on CFD instruments to 1.720 million lots compared to 1.074 million in the corresponding period of 2021. 

Profitability per lot increased also by 48.9% and the value of customer net deposits also increased from 636.8 EUR million in 2021 to 729.9 EUR million in 2022.

Omar Arnaout, CEO of XTB commented: “Undoubtedly, 2022 was a record year for XTB. High volatility in the financial markets and rising inflation caused society began to look at money management differently. As a result, increased interest in investing in financial markets was noticeable, both in a more active and passive way. Years of building an international brand, increasing the customer base, developing the product offer and focusing on financial education have translated into our financial results.”

Indices-based CFDs were the most profitable product and the broader share in the structure of revenues from financial instruments reached 52.5%. The same asset class also generated the most revenue for the Group throughout 2022 (46.4%). 

This is a consequence of high profitability on contracts based on the US 100, DAX (DE30) and US 500 indices. The second most profitable asset class were CFDs based on commodities, with a 33.8% share in the revenue structure in the entire 2022 (in the fourth quarter: 40.9%), and the leading instruments in this class were contracts based on gold, oil and natural gas prices. Revenues on CFDs based on currencies accounted for 17% in the entire 2022.

In the fourth quarter, XTB continued the global marketing campaign with the brand ambassador Conor McGregor, the martial arts fighter. 

Omar Arnaout continued: “The past year was extremely encouraging for us, because we showed that we are able to take advantage of market opportunities. Currently, our priority is to further expand the customer base, which is why we continue extensive marketing activities. In 2023, we would like to raise the bar even more and acquire at least 40-60 thousands of new clients per quarter. But that's not all. I can boldly say that investing has entered the mainstream, which is why our ambition is also to reach a mass client. Therefore, we are working on introducing new products to our offer, which will allow us to increase the number of active users even more”.

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