The Polish CFDs and retail FX broker XTB has released its preliminary financial results for the first half of 2022.
The company’s net profit jumped 638.4% in the first six months of the year to total of PLN 480 million compared to PLN 65 million during the same period the previous year.
The operating income for H1 2022 increased 245.5% YoY to PLN 836.2 million. The broker noted that the high volatility in financial and commodity markets, together with high transactional activity expressed by the number of concluded in lots, were significant factors determining their level. As a result, CFD instruments’ transaction volume reached 3,050.6 thousand lots, and profitability rose 125.0%, from 122 to 274 during the period.
According to the financial results, the numbers of active clients on the platform surged 42.7%YoY to 149,824 in H1 2022. However, new clients dropped to 101,030, a decline of 6.3% YoY.
The ambition of the Management Board in 2022 is to acquire, on average, at least 40 thousand new clients quarterly. As a result of the implemented activities, the Group acquired in the first quarter of this year 55,3 thousand new clients and in the second quarter of this year nearly 45,7 thousand new clients. In the first 25 days of July 2022, XTB acquired 10,7 thousand new clients.
The priority of the Management Board is to further increase the client base leading to the strengthening of XTB’s market position in the world. These activities are supported by a number of initiatives, including the new advertising campaign launched on February 14, 2022 with the participation of the new XTB brand ambassador – Joanna Jędrzejczyk – a titled martial arts competitor, the first Polish woman in the UFC organization and a champion in this organization, as well as a three-time world champion in Thai boxing.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.