Press Releases

Press Releases

Profit grows by 22 per cent in H1 2019

News
  • Revenues rise by 18 per cent, EBITDA by 19 per cent
  • More than 1 million new members
  • CEO Vollmoeller: “We continue to grow”

 
Hamburg, 13 August 2019 – The leading professional network in the DACH-region again continued its growth course during the first half of 2019. Between January and June, the company saw revenues climb 18 per cent from EUR 108.7 million in H1 2018 to EUR 128.2 million in H1 2019. Following adjustment for the Honeypot acquisition, this equates to organic growth of 17 per cent.

Revenues rise by 18 per cent, EBITDA by 19 per cent
B2C segment revenues grew by 4 per cent from EUR 49.0 million in H1 2018 to EUR 51.0 million in H1 2019, while B2B E-Recruiting segment revenues gained 31 per cent and amounted to EUR 65.3 million (H1 2018: EUR 49.8 million) or 29 per cent following adjustment for the Honeypot acquisition. The B2B Marketing Solutions & Events segment grew by 24 per cent, reporting revenues of EUR 11.9 million for the period under review (H1 2018: EUR 9.6 million).

EBITDA for the period came to EUR 39.7 million, up 19 per cent compared to EUR 33.4 million in H1 2018. Meanwhile, profit climbed 22 per cent to EUR 18.7 million (EUR 15.4 million).

More than 1 million new members
XING also saw a sharp increase in membership with over 1 million people registering as new members during the first half of 2019. As a result, total membership reached 16.3 million in German-speaking countries as of the end of June. Including users of other services (e.g. XING Events), the company had 17.5 million users as of the end of the second quarter.

CEO Vollmoeller: “We continue to grow”
“We again continued our growth course during the first half of 2019, with the Honeypot acquisition paving the way for future growth. The change of name from XING SE to New Work SE also underlines the fact that everything we do revolves around helping our members and users to do what they really want to do and fits in well with their life”, CEO Thomas Vollmoeller said.

At the beginning of April, the group acquired Honeypot, an innovative IT job platform. Honeypot turns the conventional job board principle on its head as companies apply to potential employees, not the other way around. The acquisition of Berlin-based Honeypot represents a key milestone in executing its vision ‘for a better working life’ and helping people to find the right job to suit their needs and preferences. This goes hand in hand with the change of name from XING SE to New Work SE since the company's subsidiaries and brands such as kununu and HalloFreelancer are indicative of the company branching out to become far more than just a single network, Thomas Vollmoeller added. In addition, the New Work vision acts as an umbrella over all of our business activities. Product brands such as XING, kununu, InterNations, Prescreen and Honeypot will remain unaffected by the change of name, with only the overarching company name set to change.


About XING
The leading online business network in German-speaking countries accompanies its members through the sweeping changes taking place in the world of work. Against the backdrop of skills shortages, digitalisation and a shift in values, XING supports more than 16 million members in reconciling work and private life as seamlessly as possible. Members can use XING Jobs to look for vacancies to suit their individual needs, stay up to date with news on XING, join discussions, and find out about the changes and trends in the new world of work on nwx.xing.com. At the beginning of 2013, the group strengthened its position as a market leader in social recruiting by acquiring kununu, the market-leading platform for employer ratings in German-speaking countries. The company was established in 2003 and has been listed on the stock exchange since 2006. It has been listed in the TecDAX since September 2011. XING members interact in around 80,000 groups or network in person at one of over 130,000 professional events each year. The group has offices in Hamburg, Munich, Berlin, Barcelona, Valencia, Porto, Vienna, and Zurich. Visit www.xing.com for further details.