XTB publishes preliminary results for the first quarter of 2025: record operational revenues and increased investors' activity

The first quarter of 2025 was extremely successful for XTB in terms of acquiring new customers. Over 194 thousand joined the group of users of the application and XTB platform. new investors (+49.8% y/y). At the end of March 2025, XTB had 1.54 NLN customers.

XTB successfully implements a development strategy, whose priority is to expand the customer base and reaching new groups of investors. The systematically growing number of active clients, combined with their increased transactional activity, translated into a record level of operational revenues, which amounted to PLN 580.3 million (+4.4% y/y) in the first quarter of 2025. The consolidated net profit amounted to PLN 193.9 million against PLN 302.7 million a year earlier at the rising, as announced, operating costs of PLN 315.8 million. The increased level of costs resulted mainly from higher expenditure on marketing campaigns, higher costs of remuneration and employee benefits related to employment increases and higher commission costs resulting from larger amounts paid to payment service providers, through which customers deposit their funds on transaction accounts at XTB.

The first quarter of 2025 was for XTB successful in terms of expanding the customer base and building a global brand, i.e. the implementation of the priority goals of our development strategy. In particular, I am pleased with the increase in the number of new clients and their investment activity. This shows that we can effectively reach new groups of clients who increase their investment activity during market variability periods. The growing number of customers is the foundation of our development in subsequent years and we will continue to focus on this – comments Omar Arnaout, president of the board of XTB.

Revenue structure and client assets

Analyzing XTB revenues in terms of instrument classes, it can be seen that in the first quarter of 2025 the largest share (52.3%) had CFD based on indexes, including in particular the German index of the DAX shares (DE40), or American indexes US 100 and US 500. The second most profitable class of assets were CFD instruments based on goods – based on the prices of earth gas prices, based gold and coffee. Their share in the revenue structure was 29.1% (compared to 48.7% a year earlier). CFD -based CFD revenues accounted for 13.5% (compared to 23.2% a year earlier), and the most profitable in this class were CFD based on EURUSD currency pair and cryptocurrencies: Ripple and Bitcoin.

In the first quarter of 2025, XTB customers invested very actively in ECtHh shares and funds (including ETF funds), and trading in these instruments increased by 121.3% y/y to USD 4.1 billion. On EU markets, nearly 80% of the first transactions of new XTB clients are transactions on shares and ECtHorts and investment plans based on this instrument. In the first quarter of the year, XTB customers on EU markets carried out 11 million transactions on these instruments.

The offer of free funds is also very popular, which reflects the dynamic increase in net deposits, which at the end of March 2025 amounted to PLN 4.1 billion and were higher by 117.6% y/y.

The assets of XTB clients at the end of the first quarter of 2025 amounted to PLN 30.3 billion. Including PLN 15.5 billion was the nominal value of instruments owned by clients on accounts (shares and ETP), PLN 4.2 billion is customer funds, and over PLN 10.6 billion was the nominal value of CFD instruments.

A record increase in the number of clients and their investment activity

In the first quarter of 2025, XTB obtained a record 194.3 thousand. new customers (+49.8% y/y), i.e. in accordance with a quarterly goal assuming an increase by 150-210 thousand. customers. At the end of March 2025, a total of 1.54 million customers used the Investment Platform and Mobile Application in a total of 1.01 million at the end of the first quarter of 2024. In turn, on April 1-28, 2025, another 56.4 thousand joined the group of XTB. new investors.

The number of active customers also increased, reaching a record level of 735.4 thous. which means an increase of 76.5% y/y.

Ambitious product plans and further foreign expansion

In 2025, XTB still plans to enrich its offer with products for anyone who wants their money to work, both actively and passively. In the first quarter, a novelty appeared in the long -term investment segment – PEA account in France. In turn, investors in Great Britain have gained the opportunity to transfer their ISA accounts to XTB. As announced, XTB is preparing to introduce cryptocurrency options and trading in its offer. The implementation of this year's product plan depends on many external factors, including obtaining necessary regulatory consents.

By building a global brand, XTB is preparing to start operating in Indonesia (planned for the first half of the year) and in Brazil, where the process of obtaining necessary licenses is underway. In turn, in Chile, XTB has already obtained a securities agent license that allows customers to offer shares and ETF funds. In the perspective region of the Middle East, XTB has opened a second office in Dubai in recent weeks.

– We strive for the XTB application to become the first choice for people who want their money to work – both passively and actively. We are aware of the importance not only of the rich product offer, but also the efficient onboarding process of new customers or their support when they need it. We are technologically prepared to effectively serve more and more customers, including new, perspective markets of Latin America or Indonesia – sums up Omar Arnaout.

Detailed information summarizing the activities of the XTB Group in the first quarter of 2025 and preliminary financial and operational results were presented in the current report at this link.

*** Annual and quarterly forecasts for over 200 companies listed on the WSE are in the consensus database, available to subscribers on the PAP Biznes economic service. (PAP Biznes)