Hamburg, 27 March 2014 - Today the Supervisory Board of XING AG, the leading business network in German-speaking countries (D-A-CH), approved the Company’s annual financial statements for the 2013 fiscal year. For 2013, Group revenues amounts to €84.8 million with a Group EBITDA of €22.8 million and a net result of €9.1 million.
The Group’s EBITDA and net result deviate from the preliminary figures communicated on 25 February 2014. This deviation arose because the Company’s auditors revised their assessment on how to report earn-outs arising from the acquisition of kununu GmbH very shortly before the approval of the 2013 annual financial statements. These earn-outs are no longer accounted for as acquisition costs. Instead they are reported as personnel expenses. This effect has a negative impact of around €1.5 million on the Group’s EBITDA and net result for 2013, but does not influence our operating business or cash flow in any way.
In addition, there is no effect on the communicated increase of the regular dividend from €0.56 to €0.62 per share as well as the payment of a special dividend of €3.58 per share, each as published by means of an ad hoc announcement on 24 February 2014. Subject to approval at the Annual General Meeting to be held on 23 May 2014, the total dividend payment to shareholders will amount to around €23.4 million.
XING is the social network for business professionals. More than 14 million members worldwide – more than 7 million of whom are based in German-speaking countries – 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 around 66,000 specialist groups, while also getting together at XING events. The platform is operated by XING AG, which was founded in Hamburg, Germany, in 2003. It has been publicly listed since 2006 and has also been traded on the TecDAX since September of 2011. In December 2010, XING acquired amiando AG, a Munich-based company and Europe’s leading provider of online event management and ticketing. The company changed its name to XING EVENTS GmbH in late 2013. XING acquired kununu, the leading employer review platform in German-speaking countries, to reinforce its position as social recruiting market leader. Please visit www.xing.com for more information.