Nov 6, 2013 | Press release:
XING’s growth continued to accelerate in the third quarter

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  • Total revenues rose by 18 percent to €21.6 million
  • 43 percent growth in the e-Recruiting division
  • Net profit increased by 23 percent to €2.7 million


Hamburg, November 6, 2013 – XING AG continued to experience accelerating revenue growth during the third quarter of 2013. The leading business network in the German-speaking countries (D, A, CH) generated total Q3 revenues of €21.6 million, an increase of 18 percent compared to the same quarter of the previous year (€18.3 million). In the first and second quarters of this year, growth was 11 percent and 15 percent respectively compared with the previous year. The company’s EBITDA rose by 12 percent to €6.2 million (€5.5 million in Q3/2012). Net profit was €2.7 million, a rise of 23 percent compared to the €2.2 million figure reported for Q3/2012.

The Premium Club, the largest source of revenue, accounted for €13.7 million of the company’s total revenues during the third quarter, an increase of 7 percent compared to the same quarter of the previous year (€12.7 million). The highest relative growth was seen by the e-Recruiting division, which generated revenues of €6.2 million, up 43 percent compared to the same quarter of the previous year (€4.3 million). The Events division also showed strong growth of 32 percent, with revenues of €1.3 million (€0.9 million in Q3 2012).

 


Thomas Vollmoeller, CEO at XING AG, said: “In light of the fact that XING is celebrating its tenth anniversary this year, I am delighted that there has been no break in our pattern of success and that we were able to increase our rate of growth again during the third quarter. To pave the way for the future, we scheduled the launch of our New Premium membership to coincide with our company anniversary.” Premium members — and all other XING users for the first two weeks after the launch — will benefit right away from new and improved features and special offers. One of the features of the new product provides useful visitor statistics, including the time, frequency, and origin of visits. Premium members can also make themselves much easier to find by means of their own profiles. In addition, we will be providing our paying premium members with special third-party offers that they will find useful in their everyday work. In the near future, premium members will have free access to “XING workspaces” at locations provided by our partner, Design Offices. Premium members who are traveling on business will be able to drop in to various locations around Germany at any time and use a workspace designed in the XING style that has WLAN access. Other offline perquisites and partner offers will be gradually rolled out over the next few months to provide even more benefits that will aid professionals in their everyday work.

By the end of the period under review, XING had 829,000 paying members worldwide — 805,000 in the German-speaking countries (D, A, CH) — which represents a net increase of some 4,000 compared to the previous quarter. Overall, XING was able to increase its D, A & CH membership by 214,000 during the third quarter of 2013 despite seasonal fluctuations, thereby achieving its strongest growth of the last 18 months. This means that, by the end of the quarter, there were more than 6.7 million members maintaining a XING profile within the German-speaking countries. Globally, the figure was 13.8 million at the end of September.

About XING
XING is the social network for business professionals. Around 14 million members worldwide – over 6,7 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 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, has been publicly listed since 2006, and listed on the TecDAX since September 2011. In December 2010, XING acquired amiando AG, a Munich-based company and Europe’s leading provider of online event management and ticketing. The acquisition of kununu GmbH, the leading platform for employer reviews in German-speaking countries, allows XING to extend its position as the social recruiting market leader. Please visit

 

www.xing.com for more information.

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