- Total turnover grows by 11 per cent to €231.3 million
- Consolidated net profit rises by 13 per cent to €37.7 million
- CEO von Strombeck: “NEW WORK SE’s strategic realignment has clearly been reinforced by the successful launch of our new B2B brand onlyfy by XING".
Hamburg, 10 November 2022 – Today, NEW WORK SE, parent company of, for instance, XING, kununu, and onlyfy by XING, presents its financial figures for the first nine months of 2022. During the reporting period, total revenues increased by 11 percent yoy to €231.3 million. EBITDA grew slightly to €80.6 million (9M 2021: €79.0 million) due to a different spending seasonality in the previous year (for example, significantly lower marketing expenses in the first half of 2021). Consolidated net income rose by 13 per cent to €37.7 million. The pro forma consolidated net profit, after adjustment for one-off effects in connection with the revaluation of financial assets, even increased by 19 per cent to €39.3 million (€33.1 million).
B2B E-Recruiting: up 23 per cent
The main growth driver for NEW WORK SE is the B2B E-Recruiting segment, which offers solutions and services that help companies successfully compete amid the increasingly challenging shortage of skilled workers. Revenues for the B2B E-Recruiting segment grew by 23 per cent from €122.6 million in 9M 2021 to €151.2 million in 9M 2022. As expected, revenues for the B2C segment were down from €74.1 million in 9M 2021 to €68 million in 9M 2022. This is largely attributable to the strategic realignment of the company which focuses on the monetisation of B2B offers. The B2B Marketing Solutions segment increased its turnover only slightly by 4 per cent to € 12.1 million due to the restraint of advertising customers caused by the economic situation.
CEO von Strombeck: “NEW WORK SE’s strategic realignment has clearly been reinforced by the successful launch of our new B2B brand onlyfy by XING"
Petra von Strombeck, CEO at NEW WORK SE, said: “Despite the major economic changes and challenges, the lack of skilled workers remains a constant throughout. Companies are suffering the increasing effects of demographic change. This is precisely what we’re targeting with our current strategy which helps companies hire the best talent on the market. Our positive financial development, particularly within our B2B segment, shows that the strategic realignment we introduced at the start of 2021 is proving successful.”
The successful launch of our new brand onlyfy by XING in September this year continues the growth trajectory our B2B segment has been on for years. onlyfy bundles our B2B focused HR services and recruiting solutions, while offering innovative tools, such as instant candidate lists when posting job ads.
Non-financial KPIs surrounding talent also developed positively, with 1.4 million people joining the XING job network during the period under review which takes total XING membership to 21.3 million. kununu, the leading employer review platform in German-speaking countries, reported a 32 per cent increase in workplace insights, taking the total number of insights to 7.6 million. 4.6 million reviews and 2.3 million salary data points were collected as part of these insights.
About NEW WORK SE
The NEW WORK SE Group strives towards a better working world. With strong brands such as XING, kununu and onlyfy by XING, and the largest talent pool in German-speaking countries, it claims the spot of recruiting partner Nr. 1 in these countries. By bringing candidates and companies together, it guides talents to a more fulfilling working life while simultaneously helping companies to greater success by winning the right talent. The group is listed at the stock exchange since 2006, has it’s headquarter in Hamburg and currently employs around 2,000 people at offices including Berlin, Vienna and Porto. Visit http://www.new-work.se und https://nwx.new-work.se/ for more information.