- B2B E-Recruiting segment constitutes largest revenue share for first time ever
- 18 per cent EBITDA growth
- XING CEO Vollmoeller: “XING continues strong growth course”
Hamburg, 6 August 2018 – XING SE, operator of the leading online business network in German-speaking countries, has continued its dynamic growth course during the first half of 2018. As a result, XING’s revenues grew by 28 per cent from €86.3 million in H1 2017 to €110.5 million in H1 2018. Following adjustment for the acquisition of InterNations and Prescreen, organic growth for the period under review reached 21 per cent.
B2B E-Recruiting segment constitutes largest revenue share for first time ever
During the first half of 2018, the B2C segment posted revenue growth of 18 per cent, up from €41.6 million to €49.0 million yoy. This equates to growth of 6 per cent following adjustment for the acquisition of InterNations. The B2B E-Recruiting segment reported the largest revenue growth throughout the entire company, while also becoming the largest revenue segment for the first time ever having posted a 41 per cent rise in revenues from €35.3 million in H1 2017 to €49.8 million in H1 2018. This equates to growth of 38 per cent following adjustment for the acquisition of Prescreen. The B2B Advertising & Events segment also grew strongly during the reporting period with revenues rising by 28 per cent from €7.5 million to €9.6 million.
18 per cent EBITDA growth
EBITDA grew by 18 per cent from €28.5 million in H1 2017 to €33.4 million in H1 2018, while net profit for the period under review climbed 20 per cent from €12.8 million to €15.4 million.
XING also reported significant member growth of almost 1 million new members during the reporting period, taking total XING membership in German-speaking countries to around 14.4 million as of the end of June. When viewing figures for every platform (including XING Events users), XING had 15.3 million users as of the end of June. In H1 2018, XING broke the barrier of 1 million paying members.
XING CEO Vollmoeller: “XING continues strong growth course“
“We succeeded in continuing our growth course during the first half of this year. The world of work is currently facing great change. We provide companies with products that support them in the war for talent and we help our members navigate the jungle of change and seize opportunities that enable them to enjoy a fulfilling working life. In doing so, we focus on the specific needs of corporate customers and members in German-speaking countries. This is the key to our successful development”, said XING CEO Thomas Vollmoeller.
Privacy and data security are a good example of XING taking the needs of people from German-speaking countries into account. The EU General Data Protection Regulation (GDPR) came into effect in May this year, so XING decided to use this as an opportunity to offer its members even more transparency than before by working in close consultation with the Hamburg Data Protection Commissioner (HmbBfDI) to create the ‘Privacy at XING’ site. The idea behind the site was to present information in a transparent and appealing manner using easy-to-understand language but without any loss of accuracy. Thomas Vollmoeller said: “We consider it extremely important that our members remain in charge of their data and are aware of what it’s used for!”
XING has also continued to look into the changes taking place in the world of work. The fixed career paths of yesteryear are gradually being replaced by CVs containing a broad spectrum of disciplines, often as a result of working as freelancers rather than permanent employees. These freelancers thus play an increasingly important role for companies, yet there is currently no standard freelancer management solution available to them. Surprisingly, companies often tend to use rudimentary, Excel-based custom solutions. This is where the Hamburg-based start-up asap comes in as it provides a solution enabling companies to manage and structure their freelancer database. Every employee can access the solution, with the information available there subject to user-specific permissions. This cuts down on the level of bureaucracy, while at the same time significantly boosting transparency and providing freelancers with additional visibility. XING acquired asap during the second quarter and now offers this product to corporate customers.
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 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.
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