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XING: Revenue and member growth set new record during first nine months of 2017

News
  • Total revenues for first three quarters grew by 24 per Cent
  • More than 1.5 million new members acquired since start of year
  • New products launched in support of future growth

 

Hamburg, 6 November 2017 – XING SE, operator of the leading online business network in German-speaking countries, continues to grow at pace. In the first nine months of this year, 1.5 million people signed up on the platform as new members, which is a new record for the first three quarters of a year. This record is also reflected in the figures as XING, which provides professionals with products and services to help master the changes taking place in the world of work, reported total revenues of €134.5 million for the first nine months of this year, a major increase of 24 per cent over the same period in 2016 (€108.3 million).

Total revenues for first three quarters grew by 24 per cent

The B2C segment, which reports revenues generated from paid offerings for end customers, is XING’s main revenue driver. During the first nine months of the year, revenues for the segment rose by 14 per cent to €65.1 million (previous year: €57.1 million). The B2B E-Recruiting segment, which offers products aimed at helping HR departments to digitalise their candidate management processes, again saw the strongest growth levels. In the first three quarters of 2017, segment revenues rose by 41 per cent to €55.2 million (previous year: €39.2 million). The B2B Advertising & Events segment also reported substantial growth of 25 per cent, taking segment revenues to €11.5 million (previous year: €9.2 million). XING’s EBITDA rose by a total of 22 per cent to €43.7 million (previous year: €35.8 million), while net profits for the period grew by 16 per cent to €21.1 million.

Thomas Vollmoeller, CEO at XING SE, said: “In the first nine months of this year we consistently extended our market-leading position for online business networks in German-speaking countries. We’re growing at pace in every segment, and we’re well-aligned for the future by helping our members benefit from the changes taking place in the world of work while also enabling companies to find the right talent. These are both areas of key importance to the respective target group.”

More than 1.5 million new members acquired since start of year

A record 1.5 million people signed up as new members with a profile on www.xing.com during the first three quarters of the current fiscal year. XING has never before seen such a high member growth rate during the first nine months of a year. As a result, the member base climbed to more than 12.9 million, and right after the end of the third quarter XING reached its next milestone by welcoming its 13 millionth member to the platform. The number of members taking advantage of XING’s paid offerings also rose by more than 56,000 since the start of the year, which equates to an increase of 27 per cent (previous year: 44,000) and also represents record growth.

New products launched in support of future growth

XING also developed several new products during the third quarter. In September, XING attended the Zukunft Personal trade fair in Cologne where it presented its new modern recruiting tools. From now on, the XING TalentpoolManager enables recruiters to adopt a more proactive approach to candidate management and can also build up a talent pool, irrespective of the vacancies they currently have to offer. This new tool forms part of the extensive XING E-Recruiting 360 portfolio that covers digital recruiting requirements. XING also rolled out a new offering for executives: XING Executive Circles. A XING Executives Circle consists of around 15 executives who meet up several times each year to discuss specific professional challenges on an equal footing. This not only enables them to add valuable new contacts, it also provides them with an opportunity to gather new ideas and viewpoints for their business – directly from other top decision-makers. Jobseekers now also have access to a new service: XING members can simplify their job search by registering free of charge for a special “XING Jobs” WhatsApp channel. Subscribers then receive weekly job recommendations based on their XING profile. Matching is performed by an intelligent algorithm which links member profile entries with current vacancies. Jobseekers interested in a vacancy can use the provided link to view the full job description in XING Jobs. “Our ongoing development of new and existing products forms the basis for our future growth”, CEO Thomas Vollmoeller added.

In September, 14 years after its founding, XING became a Societas Europaea (SE) to reflect the company’s increasing European focus. Today, XING is a growing company based in Hamburg with offices in Munich, Vienna, Barcelona and Zurich – with an office in Porto recently opening its doors.

About XING

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 more than 13 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 80,000 groups or network in person at one of the over 150,000 professional events each year. XING has offices in Hamburg, Munich, Barcelona, Porto, Vienna, and Zurich. Visit www.xing.com for further details.