X-Trade Brokers had an initial net profit of PLN 252.64 million in Q1 2022

X-Trade Brokers recorded PLN 252.64 million of consolidated net profit in Q1 2022 compared to PLN 89.05 million profit a year earlier, the company said, presenting preliminary data.

The operating profit was PLN 308.77 million versus PLN 99.8 million a year earlier.

Consolidated operating income reached PLN 439.8 million in Q1 2022 compared to PLN 186.7 million a year earlier.

“In the first quarter of 2022, XTB recorded a record increase in revenues by 135.6% y / y, ie by PLN 253.1 million from PLN 186.7 million to PLN 439.8 million. Significant factors determining their level were high volatility in the financial and commodity markets and the constantly growing average number of active clients (increase by 44.7% y / y), combined with their high transaction activity expressed in the number of contracts concluded in lots. As a consequence, trading in derivative instruments amounted to PLN 1,560.7 thousand. flights (Q1 2021: 1,115.4 thousand flights), and the profitability per flight increased by 68.4%, ”reads the release.

The final financial and operating results for the first quarter of 2022 will be provided in the extended consolidated report for the first quarter of 2022, the publication of which is scheduled for May 6, 2022.

The XTB Group is a European brokerage house specializing in financial instruments traded on the over-the-counter market and the stock exchange. Since 2002, it has been operating on foreign markets, where it offers clients technologically advanced transaction applications. It is licensed in over 10 European countries. The company has been listed on the WSE since 2016. 

Source