XTB published its annual report, summarizing key financial and operational results achieved in 2024. It was a record year for the company in many aspects: EUR 435.3 mm operating income (+21.2% y/y), EUR 199.1 mm net profit (+13.9% y/y), and EUR 229.2 mm profit on operating activities (+12.3% y/y).
Growth of the customer base, investment activity, and assets
In 2024, XTB acquired nearly 500,000 new customers, representing a year-on-year increase of 59.8%. The company’s ambition is to acquire from 150,000 to 210,000 new customers quarterly. Notably, in January and February of this year alone, a total of 137,752 individuals joined XTB’s customer base. At the end of February 2025, the total number of XTB customers reached nearly 1.5 million.
XTB clients experienced a significant increase in transaction activity in 2024, completing a total of 167.6 million transactions, which represents an 18% rise compared to the previous year.
Almost 80% of new clients in the European Union markets started their investment journeys by purchasing shares, exchange-traded products (ETPs), or opening investment plans. This trend aligns with XTB’s strategic goal of developing a universal investment application that aims to become the preferred choice for individuals looking to manage their finances.
In Poland, the IKE retirement account has attracted significant interest from customers. In 2024, XTB customers opened 29,000 of these accounts, representing 40% of all new IKE accounts opened at brokerage firms. Notably, the IKE account was introduced in XTB’s offerings only at the beginning of October 2024.
We are pleased with the results achieved in 2024, including both the growing number of new clients and the increase in their transaction activity. Our passive investment offerings, which include investment plans and interest in uninvested funds, are highly competitive in many markets, positively influencing our ability to attract new clients. Moreover, we are successfully engaging younger groups of investors, who stay with us for a longer time – comments Paweł Szejko, CFO, XTB Board Member.
At the end of 2024, XTB client assets totaled EUR 6.4 billion, reflecting a 61.3% increase year-over-year. The most significant growth occurred in the nominal value of instruments deposited by clients in XTB accounts, which surged by 126.5% to EUR 3.2 billion. Additionally, clients’ funds rose by 68.4% to over EUR 878 mm, while the nominal value of CFD instruments increased by EUR 297.1 mm, reaching EUR 2.3 billion.
Growing share of the MENA region in revenue structure
Central and Eastern Europe has consistently accounted for the largest share of XTB’s revenues, which rose to 63.9% in 2024, an increase of 3.1pp compared to the previous year. By the end of 2024, revenues from this region reached EUR 278 mm, representing a growth of 28.0%. Poland plays a crucial role within this region, with revenues from the Polish market increasing by 33.1% year-on-year. This indicates that XTB has significant potential for further growth in markets where the company already holds a dominant position.
Western Europe is a region where the company plans to focus on intensive development in 2025. The increase in revenue from this region is to be achieved by expanding the product offering. This includes the introduction of ISA accounts in the UK in the fourth quarter of 2024, as well as the planned addition of PEA accounts for clients in France in the coming weeks.
The most rapidly growing region for XTB’s operations is the Middle East. At the end of 2024, this region accounted for 10.8% of the company’s revenues, up from 3.6pp the previous year. Revenues from the Middle East surged by 81.5% year-over-year, reaching EUR 47 mm.
We see significant potential in the Middle East region, as it is one of the fastest-growing markets for our operations. In the coming days, we will be opening a new, larger office in the United Arab Emirates. Acquiring this new license will create several opportunities for us to promote our products and optimize costs. The Asian market also has great potential for development, where we have obtained a license that will allow us to offer our products to customers – shares, and ETPs – adds Paweł Szejko, CFO, Management Board Member.
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