May 6, 2021 | NEW WORK SE reports stable development in first quarter of 2021

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  • (Pro forma) revenues of €68 million same as Q1 2020
  • kununu workplace insights pass 5 million mark
  • Future of work at first digital NWX event

Hamburg, 6 May 2021 – NEW WORK SE, parent company of, for instance, XING, the leading online business network in German-speaking countries, and kununu, a leading employer review platform in Europe, today published its figures for the first quarter of 2021. (Pro forma) revenues came in at €68.0 million, the same level as Q1 2020 (€68.9 million). Pro forma EBITDA for the period grew by 46 per cent to €24.9 million (Q1 2020: €17.1 million), while pro forma net profit rose by 62 per cent  to €12.0 million (Q1 2020: €7.4 million). This significant increase in EBITDA and net profit is attributable to major cost savings during the period under review. 

Revenues for the B2C segment came in at €24.8 million, a slight decrease of 4 per cent yoy (Q1 2020: €26.0 million) which is largely due to a dip in revenues at subsidiary InterNations. The current global situation continues to hamper the world’s leading network for expats in its core business of paid memberships offering access to offline events. By contrast, paid memberships for the XING business network remained stable at the same level as Q1 2020. 

The B2B E-Recruiting segment also saw similar yoy revenues of €38.1 million (Q1 2020: €38.4 million). The B2B Marketing Solutions & Events segment is starting to see signs of recovery with revenues climbing 13 per cent to €5.2 million (Q1 2020: €4.6 million). This positive development is largely driven by an increase in advertising, while the offline events business performed at a lower level than that seen in Q1 2020.

Petra von Strombeck, CEO at NEW WORK SE, said: “The good news is that we remained stable during the first quarter of 2021. Our figures are at the same level as the first quarter of 2020, the end of which was when we first started seeing the effects of the coronavirus pandemic. Our transactional business, which includes Marketing Solutions ad revenues, is starting to recover and we’re confident that things are set to improve further during the second quarter. One such example are our positive non-financial KPIs.” 

kununu workplace insights pass 5 million mark

The two main B2C brands, XING and kununu, continue to see significant growth in terms of non-financial KPIs. XING, the leading online business network in German-speaking countries, has added 1.6 million new members since March 2020, taking total platform membership to 19.3 million. kununu, a leading employer review platform in Europe, now hosts more than 5 million workplace insights (reviews, culture and salary information) along with over 1 million salary details. 
The XING News editorial team got off to a good start in 2021 with content involving well-known guest authors, such as an opinion piece by Bill and Melinda Gates exclusively for XING, as well as interviews with bestselling authors, e.g. Noah Yuval Harari, and the first German woman in space, Suzanna Randall. The team continues to serve excellent content in the second quarter which explores the routes that the world of business and work could take in years to come.
 
Future of work at first digital NWX event

NEW WORK EXPERIENCE 2021 (NWX21), the leading event on the future of work in Germany, was held online due to the pandemic and proved to be a roaring success. Tickets for the event sold out within 48 hours, which is a clear sign of the current widespread interest in the future of work. The event’s highlights included talks, keynotes and interactive masterclasses, e.g. with former member of the Siemens Management Board, Janina Kugel, economist Prof. Dr. Michael Hüther, anthropologist Jitske Kramer, and bestselling author John Strelecky. The talks and presentations held during the morning session were freely available, with several thousand people tuning in to watch online.


About NEW WORK SE 

The NEW WORK SE Group builds upon the XING SE success story by offering brands, products and services that foster a more fulfilling world of work. Founded by Lars Hinrichs as the OpenBC professional network, the company was renamed XING in 2006. In 2019, the company was renamed again to New Work SE as a reflection of its commitment to a better working world and to bring all of its business activities under the umbrella of New Work. The company has been listed on the stock exchange since 2006. NEW WORK SE is a central leadership and management holding, serving as a service department for its subsidiaries. The Group is headquartered in Hamburg and currently employs 1,900 people at offices including Munich, Vienna and Porto. Visit https://new-work.se and https://nwx.new-work.se/ for more information.

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