In the 1st quarter of 2016 X-Trade Brokers Dom Maklerski S.A. („XTB”) Group generated operating income and net profit of PLN 82.8 million and PLN 31.9 million, respectively, which resulted in EBITDA margin and net profit margin reaching 52.8% and 38.5%, respectively. These very good results were generated mainly due to the increase in the average number of active accounts and high volatility on the markets recorded in January and February 2016.
The net profit generated by the Group in the 1st quarter of 2016 was higher than the average quarterly level in 2015 by PLN 2.1 million, i.e. 7.1%. Moreover, it was higher than in the 4th quarter of 2015 and lower than in the 1st quarter of 2015, when the markets experienced more than average volatility arising, among others, from the unpegging of the exchange rate of the Swiss franc against the euro and the ECB initiating a quantitative easing (QE) programme.
In the retail operations segment the average number of active accounts increased by more than a thousand, from 15,045 as at the end of 2015 up to 16,052 as at the end of the 1st quarter of 2016. This was, among others, due to introducing new trading instruments to the Group’s portfolio, as well as improving the quality and competitiveness of the services performed.
In the institutional operations segment (X Open Hub) the net profit increased by 103.5%, from PLN 3.9 million in the 1st quarter of 2015 up to PLN 8.0 million in the 1st quarter of 2016. The Management Board of XTB believes that the institutional operations segment has a great growth potential and that its share in the Group’s operating income shall increase within the next few years.