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XTB SAXTB fintech estimates Q4 2024 net profit at PLN 192.6 mln against PLN 222.8 mln consensus
Listed financials company XTB estimates it had a consolidated net profit of PLN 192.6 million (EUR 45.8 mln) in the fourth quarter of 2024, down from PLN 249 million (EUR 59.24 mln) in the prior year period, with EBIT forecast at PLN 200.7 million (EUR 47.75 mln) versus PLN 319 million (EUR 75.9 mln) a year ago, the company said in a press release. The PAP Biznes consensus was for PLN 222.8 million (EUR 53 mln) net take and PLN 246.1 million (EUR 58.55 mln) operating profit.
XTB's revenue estimate was PLN 465.4 million (EUR 110.72 mln), 1 percent lower than the PAP Biznes consensus. In the prior year period, XTB reported revenue of PLN 506.7 million (EUR 120.54 mln).
PAP Biznes' calculations show that the company's EBITDA amounted to around PLN 205.8 million (EUR 48.96 mln), against a consensus for PLN 255.6 million (EUR 60.8 mln).
In 2024, XTB is estimated to post a net profit of PLN 859.4 million (204.45 mln), up from PLN 791.2 million (EUR 188.23 mln) in 2023. An operating profit likely reached PLN 989.9 million (EUR 235.5 mln) against PLN 924.2 million (EUR 219.9 mln) in 2023.
The company's estimated revenue for 2024 was PLN 1.87 billion (EUR 444.9 mln), up from PLN 1.62 billion (EUR 385.4 mln) a year ago.
"2024 was a record year for XTB in many respects. I am most pleased with the jump in the number of new clients, especially active investors, which are the foundation for XTB's further growth in the coming years," said the company's CEO Omar Arnaout, quoted in the press release.
In the last year, XTB has acquired nearly half a million of new investors.
"Nearly 80 percent of them start with investments in stocks and ETFs, so these are the people who will stay with us for the long term as holders of investment plans or pension products," Arnaout pointed out.
XTB is a listed Polish fintech offering access to global financial markets via an online investment platform and mobile app.
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