XP Inc. (NASDAQ:XP) Q4 2022 Earnings Conference Call February 16, 2023 5:00 PM ET
Company Participants
Andre Martins - Head of Investor Relations
Bruno Constantino - Chief Financial Officer
Conference Call Participants
Eduardo Rosman - BTG Pactual
Mario Pierry - BofA Global Research
Geoff Elliott - Autonomous Research
Domingos Falavina - JP Morgan
Tito Labarta - Goldman Sachs
Marcelo Telles - Credit Suisse
Thiago Batista - UBS
Andre Martins
Good evening, everyone. I am Andre Martins, Head of Investor Relations of XP Inc. On behalf of the company, I’d like to thank you all for your interest in our quarterly earnings call. So welcome to the Fourth Quarter and Full Year of '22 Earnings Call. Today, we have with us our CFO, Bruno Constantino. We will both be available for the Q&A session right after the presentation. And whoever wants to ask a question can raise your hand on the Zoom tool, and we will attend you on a first-come first-serve basis.
We have the option of simultaneous translation to Portuguese. So we have a bottom as well on the Zoom if you want to turn on the translation. And before we begin our presentation, please refer to our legal disclaimers on Page 2 on which we clarify forward-looking statements, their definition and we have on the SEC Filings section of the IR website, the definitions, as well regarding those legal disclaimers.
So now, I'll pass the word to Bruno. Good evening, Bruno.
Bruno Constantino
Good evening. Thank you, Andre. Good evening to all of you. And thank you for attending our 13th earnings call presentation. As a full year presentation I will take longer than usual in the introduction part, given more context about how XP business model works in different macroeconomic cycles. I will also mention the important achievements and lessons learned in 2022.
On Slide 5, we highlight how XP benefits from a positive market environment. The recent bull market that went on until 2021 attracted many Brazilians to the capital market as you know. From 2018 to 2021, we had an increase of more than 4 million individuals come into the market. Still nothing compared to the size of the Brazilian population, as you know, but a lot compared to less than 1 million we had in 2018. And then as the main investment platform in Brazil, and having the biggest specialized distribution network, XP benefited a lot from this scenario with our disruptive and scalable business model.