Raport

President’s letter

Dear Sirs and Madams!

On behalf of Management Board of X-Trade Brokers

DM S.A. I present the 2020 report. This document is

the summary of the XTB Capital Group’s operations

over the past year, including generated financial

results and the most relevant events.

An important factor of success of XTB is the skilful

use of changes in the economic and market

environment, not only in the category of maximizing

profit, but also consistently strengthening the brand

and competitive position of the company. One of the

XTB’s priorities is to focus on the client by providing

him with the best investment offer – both in terms of

instruments, tools and services.

In 2020 we were distinguished by our own innovative

investment technology and constant development.

In October last year we introduced an offer that

includes commission-free investing in stocks and

ETFs for monthly volumes up to EUR 100 000. We

also continuously developed our xStation trading

platform. These activities contributed to the

acquisition of over 112 thousand new clients, which

is as many as in years 2014-2019 in total. The

intention of Management Board for 2021 is to further

increase the client base.

The financial results of the XTB Group developed in

the past year confirm the stable and well-established

position of XTB on the international market.

Consolidated operating revenues and net profit

amounted to PLN 797,8 million and PLN 402,1

million. These are the results higher than those

generated in 2019 by 233% and 597% respectively.

XTB with its strong market position and dynamically

growing client base builds its presence in the non-

European markets, consequently implementing

a strategy on building a global brand. The XTB

Management Board puts the main emphasis on

organic development, on the one hand increasing the

penetration of European markets, on the other hand

successively building its presence in Latin America,

Asia and Africa.

Looking forward, I’m sure that XTB Group is strong

and well prepared to face challenges of competitive

market.

On behalf of the Management Board, I would like to

thank our Shareholders, the Supervisory Board and

Employees for their commitment and work to build

the value of the XTB Capital Group. I hope that the

next years will bring further development of the

activity carried out by X-Trade Brokers DM S.A.,

confirmed not only by the growing number of new

clients, but also by the growing offer of products and

services as well as the simultaneous ability to

generate value.

Thank you for your trust in us in 2020. I encourage

you to read the annual report attached.

Yours sincerely,

Omar Arnaout

President of the Management Board