- Total revenues rose by 21 per cent after acquisition effects
- 14-million-member mark passed
- B2B E-Recruiting contract customer base grew by 36 per Cent
Hamburg, 3 May 2018 – XING SE, operator of the leading online business network in German-speaking countries, continued last year’s growth performance during the first quarter of 2018 with every revenue source of revenue contributing to the renewed strong growth.
Total revenues rose by 21 per cent after acquisition effects
The first quarter of 2018 saw revenues of €54.0 million, an increase of 28 per cent from €42.1 million in Q1 2017. After acquisition effects as a result of acquiring Prescreen and InterNations, revenues grew by 21 per cent year on year. XING’s B2C segment revenues rose 18 per cent from €20.5 million to €24.2 million (adjusted by 6 per cent). The B2B E-Recruiting segment generated Q1 revenues of €23.7 million, up 40 per cent from €17 million and adjusted to 36 per cent after Prescreen acquisition effects. The B2B Advertising & Events segment also grew strongly and saw revenues rise 40 per cent to €5 million (Q1 2017: €3.6 million).
During the period under report, XING’s EBITDA grew by 19 per cent from €12.4 million to €14.8 million, with group earnings rising 25 per cent from €4.9 million to €6.1 million year on year.
14-million-member mark passed
Thomas Vollmoeller, CEO at XING SE, said: “XING has got off to an extremely successful start to 2018. We saw major growth in every segment and continue to grow unabatedly. The number of XING members also continues to growth incessantly as we’re welcoming around a million new members every six months. This makes us the fastest growing online business network in German-speaking countries by far.”
At the start of April XING announced that it had reached the 14-million-member mark at almost exactly the same time as reaching the one-million-paid-member mark. The first quarter of 2018 saw XING welcome 545,000 new members to the platform.
B2B E-Recruiting contract customer basis grew by 36 per cent
XING has expanded upon its position as a HR department partner. Human Resources managers use XING products such as the XING TalentpoolManager to boost their chances in the battle for talent. XING provides them with tailored software solutions to help them find the right candidates for their vacancies or create a pool of potential applicants. Over the last twelve months, XING acquired over 2,200 new corporate customers who booked licence subscriptions for at least one XING product. CEO Thomas Vollmoeller said: “Our B2B products are now standard in many HR departments. Anyone looking to succeed in the battle for talent can’t afford to overlook our modern solutions. That’s also excellent news for our members as the more HR departments use XING to look for talent, the higher their individual chances of advancing their career.”
XING has also released an updated version of its iOS and Android apps to provide users with a novel interface which clearly differs from that of other social network apps. Users can swipe through content sorted by relevance to gain an overview of key information even faster than before.
During the first quarter, XING also rolled out end-to-end encryption for its messaging section. As a result, XING is the only online business network in German-speaking countries to offer basic and Premium members the option of exchanging sensitive and highly confidential information with one another without the risk of unwanted third-party access. End-to-end encryption is available in the messaging section of XING’s mobile apps.
The leading social network for professional contacts in German-speaking countries accompanies its members through the process of change in the world of work. Against the backdrop of skills shortages, digitalisation and a shift in values, XING supports about 14 million members in reconciling work and private life as seamlessly as possible. Members are thereby able to use XING Jobs to search for a job that suits their individual needs, stay up to date with news offers on XING, participate in discussions, and find out about the changes and trends in the new world of work in the XING spielraum portal. At the beginning of 2013, XING strengthened its position as a market leader in social recruiting by acquiring kununu, the market-leading platform for employer ratings in German-speaking countries. XING 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 90,000 groups or network in person at one of the over 130,000 professional events each year. XING has offices in Hamburg, Munich, Barcelona, Porto, Vienna, and Zurich. Visit www.xing.com for further details.