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XTB finished 2024 well, showing good financial and business results. The online trading company also got many new clients, adding almost 500,000 in one year, an increase of 59.8%.
This big increase helped push revenue up by 15.8%, and net profit went up 8.6% from last year to PLN 859.4 million. Even though there was an increase in costs, XTB still gained from strong market trends and more people wanting financial products.
CFD Trading Volume Fell By 7.5%, But Higher Earnings Per Trade Balanced It
The company’s report showed that XTB’s revenue grew to PLN 1.87 billion in 2024, higher than PLN 1.62 billion in 2023. The main reason for this was more clients, as the number of active users went up by 61.2% to 658,500.
Even though trading in CFD instruments dropped by 7.5% from the previous year, higher earnings per trade helped cover the loss. In terms of asset types, CFDs on commodities made up the biggest part of revenue at 48%, as many people traded natural gas, gold, and cocoa.
CFDs on indices brought in 33.3%, with German DAX (DE40), the US 100, and US 500 indices bringing in the most money. Currency CFDs made up 14.6%, with many people trading Bitcoin and USD/JPY.
As XTB grew fast, its costs also went up to PLN 883.5 million, a 27% jump from 2023. Marketing costs had the biggest increase, rising by PLN 78.2 million because of stronger online ads. Employee salaries and benefits also went up by PLN 52.4 million, as the company hired more workers.
The company believes costs will rise in 2025, and total spending will likely increase by 40%. Marketing costs alone might increase by 80% as XTB works on growing around the world and getting more clients.
XTB Plans To Add Spot Cryptocurrencies To Its Offerings
XTB’s leaders are still working on growing the business while earning more profits. The company wants to keep spending on technology, marketing, and moving into new places. XTB’s plan for paying shareholders stays strong, with the board thinking about giving out up to 75% of net profit for 2024, if the rules allow it.
With a strong budget, more brand awareness, and a growing number of users, XTB wants to become more successful in 2025. But higher costs and new rules could change how much the company earns next year.
Recently, XTB revealed its intentions to include spot cryptocurrencies to its services. Cryptocurrencies have been part of the company’s offerings since 2018, but only as contracts for difference. The firm, which wants to become a full financial app, is also looking at physical cryptocurrencies.
Filip Kaczmarzyk, Head of Trading Department at XTB, said the firm is thinking about cryptocurrencies. He explained that if added, the company will keep both crypto CFDs and spot trading, seeing them as two separate options.
