02/23/2023 | New Work SE

NEW WORK SE achieves double-digit revenue growth in fiscal year 2022

  • HR Solutions grow by 22 per cent
  • XING evolves into a job network
  • Executive Board to propose dividend of €3.16 per share and special dividend of €3.56 per share at AGM


Hamburg, 23 February 2023 – NEW WORK SE today published its preliminary unaudited figures for the 2022 fiscal year. Revenue growth increased by 10 per cent to €313.4 million in fiscal 2022 when compared with the previous year (€284.5 million). The Group’s EBITDA increased by 6 per cent to €104.1 million, while net profit rose 6 per cent YoY, coming in at €46.1 million (FY 2021: €43.3 million). The Group’s pro forma consolidated net profit after adjustment for one-time effects even rose by 10 per cent to €47.3 million.


HR Solutions grow by 22 per cent

The HR Solutions segment, the largest within the Group and responsible for around two-thirds of total revenue, recorded significant year-on-year growth. Driven by high demand in the labour market and coupled with the shortage of skilled workers, revenues for the segment grew by 22 per cent from €169.8 million in FY 2021 to €207.6 million in FY 2022. As expected, revenues in the B2C segment decreased to €89.3 million (FY 2021: €98.1 million) as a result of NEW WORK SE’s strategic realignment to focus on monetisation by the B2B business (HR Solutions). In addition, the robust German labour market encouraged fewer members to purchase Premium membership to help them change jobs. Revenues in the Marketing Solutions segment were on par with the previous year, generating €16.4 million (FY 2021: €16.6 million).


Petra von Strombeck, CEO at NEW WORK SE, said: “Fiscal year 2022 was a good year for NEW WORK SE. We achieved all our targets, including the upward adjustment of our revenue forecast last August. We’ve again achieved double-digit growth and paved the way for the future. By way of example, we’ve bundled our B2B solutions under the new onlyfy by XING brand and continued transforming the XING platform into a job network. Our goal is clear: to become the leading recruiting partner in German-speaking countries by offering the perfect match thanks to the best access to talents – a connection that makes companies more successful by enabling individuals to have a happier and more satisfying working life. And we’ve made good progress with our strategic realignment.”


XING evolves into a job network

XING, the leading job network in German-speaking countries, is undergoing a transformation to focus on helping users find the right job or be found by recruiters. This overarching goal extends beyond connecting CVs with job openings to help “people find a working environment that aligns perfectly with their desires, needs and personalities,” Petra von Strombeck added. The number of XING members grew by 1.18 million to over 21.5 million in 2022. Since the beginning of 2023, the network’s evolution has been driven by new Managing Director Thomas Kindler. At the same time, XING launched the largest advertising campaign in its history.


kununu, a leading European platform for workplace insights, recorded more than 1.8 million new workplace insights that include aspects such as working atmosphere, benefits, salary and application processes. As of the end of 2022, kununu hosted over 8 million highly relevant insights for jobseekers to use.


September 2022 saw the launch of the company’s new B2B platform, onlyfy by XING, to help companies quickly and efficiently hire talented workers.
HR professionals receive AI-based support to create job postings and immediately receive an automatically generated list of XING members who fit the vacancy and the company in question. It also automates the sharing and promotion of job postings across multiple channels and social media.


Executive Board to propose dividend of €3.16 per share and special dividend of €3.56 per share at AGM

In view of the positive developments seen in the 2022 fiscal year, the NEW WORK SE Executive Board will put forward to shareholders at the AGM a proposal to pay an increased dividend of €3.16 per share. Furthermore, the Board has decided to propose the distribution of a special dividend of €3.56 per share.


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 has been listed on the Frankfurt stock exchange since 2006, has its headquarters in Hamburg and currently employs around 2,000 people at offices including Berlin, Vienna and Porto. Visit http://www.new-work.se and https://nwx.new-work.se/for more information.