XTB published the results for the first half of the year. Shares lose -26%

Over 107 new customers, PLN 241,9 million in revenues and 65,2 million profit - these are preliminary results XTB groups for the first half of 2021. Compared to the record levels of the previous year, they are visible huge drops in almost every respect. 

The net profit for the first half of the year compared to the same period in 2020 decreased by 77,8%. On the other hand, revenues decreased by 53,3%. The company explains it lower volatility in the second quarterwhen the financial markets were not so attractive and did not ignite the imaginations of individual investors in the first place.  The results were also influenced by the not very good situation on the cryptocurrency market.  

- The first six months of this year. turned out to be less favorable for XTB compared to the record-breaking first half of 2020, when our clients invested taking advantage of above-average volatility in the markets. It should be emphasized that the situation on the cryptocurrency market also significantly influenced the Group's results. Nevertheless, the first half of 2021 is also the time of further organic development of the Group in key customer areas and related to the expansion in the Middle East - comments Omar Arnaout, president of the board of XTB. 

More customers, more costs

Only the growing customer base can be happy. The first half of the year resulted in the registration of 107 thousand. new traders, which translates into an increase of 105,7% compared to the first half of 2020. In total via XTB already invests over 352 thousand customers who recorded a total turnover  1 986,7 thous. flights (H2020 1: 613,9 thousand flights).

- In the first six months of 2021, we are very close to achieving the set goal for 2021, which includes the acquisition of at least 120 jobs. new customers. What pleases me the most is not only the constantly growing customer base, but also active customers, with an average of over 100. It is them, active investors, that constitute the foundation for the growth of results and development of XTB - says president Omar Arnaout. 

The XTB Group is doing a lot to increase the customer base, and a large part of the record profits by investing in marketing. It primarily promotes the possibility of commission-free investment in shares up to 100. euro per month, where you can see the ambassador of XTB - the famous football coach José Mourinho. Also for this reason, the operating costs in the first half of 2021 amounted to as much as PLN 163,9 million and were by PLN 25,7 million higher than in the first half of 2020.

XTB is looking for new clients literally all over the world. Currently preparing to start operations in United Arab Emiratescreating a company XTB MENA Limited. 

- In the middle of this year. We have received a license from the Dubai Financial Services Authority, which will allow us to start operations in the United Arab Emirates. The new office will act as a regional hub, thanks to which we will reach clients from all over the MENA (Middle East and North Africa) area with our offer. We have a very good local team and we look at this market in the long term, although the goal is clear - we want to systematically increase our presence in this region and over time become a leading player in this part of the world - Omar Arnaout announced. 

The offer of XTB already includes over 5,3 thousand. financial instruments from virtually all possible markets. That is why the company also invests in training for its clients.

- Although the market situation was characterized by relatively low volatility, we obtained satisfactory results in terms of the number of new customers and their activity on the market. The Investing Day conference certainly helped us in this, as it introduced the absolute basics of investing and made it easier for many people to start their adventure with investing - comments Jakub Paturalski, director of the Polish branch of XTB.

XTB shares discounted by -26%

The Thursday session, the day after the publication of the above results, brought a huge discount on the XTB stock. The price fell by 26% and is currently slightly above PLN 12 per share, while yesterday it was over PLN 16. Meanwhile, at the beginning of this year, ATH (all times high) for over PLN 24, which seems completely beyond improvement in the near future.