More information and confirmation of your participation: Pekao Investment Banking S.A. , email: joanna.dorn@pekaoib.pl
More information and confirmation of your participation: Pekao Investment Banking S.A. , email: joanna.dorn@pekaoib.pl
X-Trade Brokers Dom Maklerski S.A. hereby informs that pursuant to § 5 section 3 of the Regulations of the General Meeting of Shareholders, the Management Board shall ensure a widely accessible broadcast of the proceedings of the general meeting in real time.
Taking into account the rule I.Z.1.16. of the Best Practice of GPW Listed Companies 2016, which states that “a company should operate a corporate website and publish on it, in a legible form and in a separate section, in addition to information required under the legislation: information about the planned transmission of a general meeting, not later than 7 days before the date of the general meeting”, X-Trade Brokers Dom Maklerski S.A. informs that proceedings of the Ordinary General Meeting of the Company convened for 24 April 2017 at 12:00 will be transmitted online via dedicated internet website available under the below link:
http://streamonline.pl/xtb/index.html
Access to the broadcast will be active shortly before the beginning of the proceedings.
In 2016 X- Trade Brokers Dom Maklerski recorded PLN 77,7 million of consolidated net profit, in comparison to PLN 119,0 million recorded in 2015. Only in the IV quarter the Group’s net profit has increased by 206%, i.e. to the amount of PLN 50,4 million y/y. The IV quarter was the same a record quarter for the Group in the whole 2016 reaching the levels comparable to the best quarters of the record 2015 year in the XTB history.
Operating income for 2016 reached PLN 250,6 million as compared to PLN 282,5 million in 2015. Only in IV quarter the Group’s operating income reached PLN 94,0 million (PLN 57,4 million in the previous year).
‘In the IV quarter of 2016 the situation on the financial markets was favorable for XTB. We observed favorable volatility on index CFDs (based on German DAX and US DJIA and S&P500), currency pairs with USD and commodity CFDs based on gold and oil.’ – says Pawel Szejko, Member of the Management Board responsible for Finance.
Year 2016 was special for us. On one hand, we have strengthened our position as one of the leading European brokers. In may we had our debut on the Warsaw Stock Exchange. Joining the companies listed on the WSE played key role as part of our strategy of building XTB’s long-term value. Transparency of our business model and finance, so important for our clients, has become another XTB’s competitive advantage. We consistently built up customers base for future growth. The number of new accounts and the average number of active accounts was increasing from quarter to quarter. On the other hand we witnessed further regulatory changes, which with time may change the business.
‘Some of the competitors took the decision to withdraw from the market because of the pressure exerted on their results due to introduction of additional restrictions and legal barriers. This applied particularly to entities with less established position on the market. We see this as an opportunity to consolidate the market. This situation creates for us opportunities to develop and to increase the number of new accounts.‘- adds Paweł Szejko.
The Management Board’s plan for the upcoming periods is to accelerate the Company’s growth, in particular by expanding the customers base, development of the products offer, further penetration of existing markets and acceleration of geographic expansion into new markets. We intend to intensify our activities in Latin America in the near future. Currently, we focus on business development in Chile. We hope that in the years 2017 and 2018 our expansion in this region will speed up significantly.
‘The Management Board expects that operating expenses in 2017 will be lower than in 2016. In the quarterly view, they may reach similar levels than in the I or IV quarter of 2016. The decrease should mainly result from lower marketing costs.‘- adds Paweł Szejko.
X-Trade Brokers reported almost 212% increase of a consolidated net profit in the IV quarter 2016 as compared to the same period of the previous year. The net profit in this period amounted to PLN 51,4 million in comparison to PLN 16,5 million in the previous year. The IV quarter was the same a record quarter for the Group in the whole 2016 reaching the levels comparable to the best quarters of the record 2015 year in the XTB history.
The Group’s operating income increased significantly and reached PLN 94,1 million in the IV quarter of 2016 in comparison to PLN 57,4 million in the previous year.
“In the IV quarter 2016 the situation on the financial markets was favorable for the XTB. We observed high volatility on instruments which are relevant in our revenues structure: index CFDs (based on German DAX and US DJIA and S&P500), currency pairs with USD and commodity CFDs based on gold and oil. As a result, the Group generated PLN 94,1 million of operating income which gives an increase of PLN 36,7 million, i.e. 64% y/y.” – says Pawel Szejko, Member of the Management Board responsible for Finance.
Simultaneously with the revenues increase, the operating expenses in the IV quarter 2016 declined by PLN 3,7 million, i.e. 9% y/y. The costs of salaries and employee benefits amounted to PLN 17,0 million and the marketing expenses reached a level of PLN 8,7 million.
“The intention of the Management Board in the upcoming quarters is to further keep the operating expenses on the stable level, similar to that from the IV quarter 2016.” – adds Pawel Szejko.
The Management’s plan for the upcoming periods is to accelerate the Company’s growth, in particular by expanding the customers base, further penetration of existing markets and acceleration of geographic expansion into new markets.
XTB consistently builds up customers base for future growth. The number of new accounts and the average number of active accounts is increasing from quarter to quarter. In the IV quarter of 2016 the number of new accounts increased by 17% y/y, and the average number of active accounts by 26% y/y. The Management Board believes, that the increasing number of new and active accounts and a strong brand in combination with favourable market volatility are solid foundations for future growth.
More information and confirmation of your participation: Pekao Investment Banking S.A. , email: joanna.dorn@pekaoib.pl
