XING Q1 results show highest growth in last three years in German-speaking countries
• 233 thousand new members in Q1
• Vertical segments main growth driver with 34 percent yoy growth
• Events revenues doubled compared to previous year
• EBITDA of €4.80 million despite investments
Hamburg, May 14, 2012 -- XING AG, operator of the leading business network in German-speaking countries, reported growth across all business lines during the first quarter. Total revenues for the period grew by 13 percent from €15.65 million in Q1/2011 to €17.70 million in Q1/2012. XING’s EBITDA for the period saw a small downturn from €5.62 million in Q1/2011 to €4.80 million in Q1/2012, but this was expected due to major investments in future growth.
XING’s vertical business segments remained its key growth driver with revenues growing by 34 percent to €5.71 million. The company’s “e-Recruiting” segment achieved revenues of €3.47 million – a 28 percent increase over the same period last year (€2.71 million) – while Advertising revenues rose by 15 percent to €1.22 million (Q1/2011: €1.05 million). The Events segment turned over more than €14 million in tickets, thereby generating Q1 revenues of €1.02 million which was double the revenues during the same period last year. Earnings from Premium memberships for the period rose by six percent to €11.75 million (Q1/2011: €11.13 million).
Stefan Gross-Selbeck, CEO at XING AG, said that “The results for the quarter are in keeping with our forecast and expectations. XING is continuing its growth course both in terms of revenues and members where we have seen the highest member growth in the last three years.”
XING welcomed 233 thousand new members from German-speaking countries to its platform during the first quarter, taking total membership there to 5.51 million and 12.10 million worldwide.
XING plans to introduce a number of product innovations in the next few weeks. To this end, Stefan Gross-Selbeck said that “This summer will see several key new products, including the XING Talentmanager that helps companies find suitable candidates for their vacancies, and the AdCreator that provides users with great new ways to advertise their products and services on our platform.”
XING is the social network for business professionals. More than 12 million members worldwide 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. Please visit www.xing.com for more information.