Leading European Fx & CFD brokerage group, XTB has reported one of its most successful first-half earnings for 2018 today. The preliminary H1-2018 earnings report witnessed a significant increase in revenue and profit. The growth in revenue and profits was largely contributed by increased trading activity on the back of high volatility in the market and large numbers of new clients added during the period.
During the six months ended on June 30, 2018, operating income for the broker came in at €46.7 million ($53.5 million), a healthy increase of 37 per cent or €17.2 million compared to last year. The Net Profits for the brokerage group increased almost three times €23.7 million as compared to €6.9 million in the first half of 2017. In both revenue and net profits front, the company posted a very impressive number.
The Net Cash from operating activities also witnessed a near 100 per cent growth compared to first half of last year, coming in at €30.6 million as against €1.5 million in H1, 2017. Looking at the broker’s foreign exchange operations, it was too positive with total forex gains during the period coming in at €1.6 million. This is a positive development as XTB had no gains in the first half of 2017.
The foreign exchange loss too came down significantly during the period by almost three times to €777,290. The broker had reported forex loss of €2.9 million in the first half of last year. The total value of CFDs during the period came in at €45 million, higher by 36 per cent compared to last year’s first half. The total value of currency CFDs increased by 29 per cent to €13.5 million.
In terms of revenue for the broker, CFD instruments based on currency pairs shared 29.3 per cent of total revenue against 31.9 per cent a year earlier. The EUR/USD currency pair was the most sought-after among clients and commodity CFD also reported higher activity with value increasing by almost 45 per cent to hit €7.6 million.
During the period XTB added 10,046 new clients, an increase of 24 per cent year-on-year and also the number of active clients during the period went up by 25 per cent or 4,387 from the first half of 2017.