The group company operating the XTB brand as well as other subsidiaries under its umbrella, reports consolidated operating revenue of PLN 240 million for 2013, rebounding 41% from PLN 170 million reported for 2012.
The latest consolidated financial report for X-Trade Brokers Dom Maklerski S.A. was just announced for the year ending December 31, 2013. Net income (after income taxes) for 2013 totaled 80.58M PLN (or roughly USD 26.75 million using the exchange rate referenced in the report) and up year-over-year(YoY) from 40.53 PLN for the prior 2o12 period.
The company operates a number of brands including its main XTBForex and CFD brokerage offerings and also holds membership on the Warsaw Stock Exchange (WSE), headquartered in Warsaw and licensed by the Polish Securities and Exchange Commission, as well as supervised by the Polish Supervision Authority.
Gross operating revenues for 2013 totaled 240M PLN, up from 170M PLN YoY, an increase of 41% or 70M PLN during that time. Operating expenses were also higher at PLN 134M for 2013. The group's assets rose from 515M PLN to 561 PLN, YoY, while liabilities rose to 305M PLN from 245M PLN in 2012.
The company said it has closed its Hungary operation as of December 2013, prior to the end of the reported period, for its 2013 year. Payment of dividends from capital reserves was reported as 63.53M PLN, and over 102M in capital reserves remained as of December 31, 2013.
In mid-October the company bought 100% of DUB Investments Limited based in Cyprus - owner of the xSocial brand.
The operating revenues for 2013 are in-line with 2011 after a challenging 2012 year, thus the rebound indicates a recovery over last year's figures. Forex Magnates spoke to Izabela Kozakiewicz last year following the 2012 reported results, she explained regarding that period, "CFD market is a very dynamic one. Each year it is experiencing crucial changes, both from local as well as from global perspective. Those changes take place on many levels such as size and quality of competition, level of legal regulations, traders' knowledge, market volatility and many others. All of the above mentioned changes influence company's financial results. Of course the more markets the company is active on the more changes have influence on its performance. As to the main question – income decrease experienced in 2012 had many reasons. On one hand, it was generated due to essential investments and changes made to the company structure, product offer and our trading technology. On the other hand, the result was influenced by the market itself as well as by further external factors. Last but not least, it should be noted that 2011 was an over informative year, so the decrease in profit the year after shouldn't be a big surprise."
Other brokers in Poland were not as fortunate with IDM recently laying off over two-thirds of its workforce recently, and Forex Magnates reported shortly thereafter when TMS Brokers acquired IDM's brokerage clients, following the mass layoff.
The latest consolidated financial report for X-Trade Brokers Dom Maklerski S.A. was just announced for the year ending December 31, 2013. Net income (after income taxes) for 2013 totaled 80.58M PLN (or roughly USD 26.75 million using the exchange rate referenced in the report) and up year-over-year(YoY) from 40.53 PLN for the prior 2o12 period.
The company operates a number of brands including its main XTBForex and CFD brokerage offerings and also holds membership on the Warsaw Stock Exchange (WSE), headquartered in Warsaw and licensed by the Polish Securities and Exchange Commission, as well as supervised by the Polish Supervision Authority.
Gross operating revenues for 2013 totaled 240M PLN, up from 170M PLN YoY, an increase of 41% or 70M PLN during that time. Operating expenses were also higher at PLN 134M for 2013. The group's assets rose from 515M PLN to 561 PLN, YoY, while liabilities rose to 305M PLN from 245M PLN in 2012.
The company said it has closed its Hungary operation as of December 2013, prior to the end of the reported period, for its 2013 year. Payment of dividends from capital reserves was reported as 63.53M PLN, and over 102M in capital reserves remained as of December 31, 2013.
In mid-October the company bought 100% of DUB Investments Limited based in Cyprus - owner of the xSocial brand.
The operating revenues for 2013 are in-line with 2011 after a challenging 2012 year, thus the rebound indicates a recovery over last year's figures. Forex Magnates spoke to Izabela Kozakiewicz last year following the 2012 reported results, she explained regarding that period, "CFD market is a very dynamic one. Each year it is experiencing crucial changes, both from local as well as from global perspective. Those changes take place on many levels such as size and quality of competition, level of legal regulations, traders' knowledge, market volatility and many others. All of the above mentioned changes influence company's financial results. Of course the more markets the company is active on the more changes have influence on its performance. As to the main question – income decrease experienced in 2012 had many reasons. On one hand, it was generated due to essential investments and changes made to the company structure, product offer and our trading technology. On the other hand, the result was influenced by the market itself as well as by further external factors. Last but not least, it should be noted that 2011 was an over informative year, so the decrease in profit the year after shouldn't be a big surprise."
Other brokers in Poland were not as fortunate with IDM recently laying off over two-thirds of its workforce recently, and Forex Magnates reported shortly thereafter when TMS Brokers acquired IDM's brokerage clients, following the mass layoff.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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