- 96% increase in revenues from e-Recruiting, Advertising and New Verticals
- EBITDA rises by 60% to €11.3 million
- 412,000 new members in Germany, Austria and Switzerland (DACH)
Hamburg, August 10, 2011 - XING AG, the leading business network in German-speaking countries, has continued its growth course during the first half of 2011 with revenues from services rising by 25% to €31.6 million compared to €25.3 million during H1/2010. The operating result (EBITDA) grew by 60% to €11.3 million (compared to €7.0 million in H1/2010), while the EBITDA margin increased by 8 percentage points to 35% compared to 27% in H1/2010. Profits of around €5.1 million led to a 95% increase, i.e. almost doubling, of XING’s profits over the same period last year (€2.6 million). During the first half of 2011, the e-Recruiting segment reported excellent growth with revenues rising by 85% to €5.5 million. Advertising revenues rose by 53% from €1.7 million in H1/2010 to €2.5 million in H1/2011. At the end of 2010, XING invested in its events business by acquiring amiando AG. Events revenues of €1.1 million during the first six months of 2011 led to the Company passing the one million mark for the first time. Total revenues from all new revenue sources almost doubled after rising by 96 % to €9.1 million, with the New Verticals accounting for about 30 % of that figure. Stefan Gross-Selbeck, CEO at XING AG, said that “The H1/2011 results show that our strategy of tapping into new sources of income is paying off here at XING AG as they now make up about a third of our revenues. We consolidated our position as German market leader for social recruiting where we acquired more than 800 new customers. On top of that, we also succeeded in growing our member base.”
To this end, during the period under report, XING acquired 640,000 new members worldwide, 412,000 of whom are based in German-speaking countries (compared to 330,000 new members during H1/2010). This equates to a 25% increase in new members when compared to the same period in 2010. As of the end of June 2011, 11.1 million people were registered on XING worldwide, 4.9 million of whom are based in Germany, Austria or Switzerland. Stefan Gross-Selbeck added that “XING intends to continue its growth course as there is still a great deal of potential in the German-speaking market.” The number of paying members rose from 745.000 to 769.000 during the first six months of 2011.
XING is the social network for business professionals. More than 11.1 million members worldwide use XING to boost their business, job, and career. XING is a platform where professionals from all kinds of different industries can meet up, find jobs, colleagues, new assignments, cooperation partners, experts and generate business ideas. Members can meet and exchange views in over 50,000 specialist groups, while also getting together at networking events. The platform is operated by XING AG, which was founded in Hamburg, Germany, in 2003 and has been publicly listed since 2006. In December 2010, XING acquired amiando AG, a Munich-based company and Europe’s leading provider of online event management and ticketing. Please visit www.xing.com for more information.