XING acquires 436 thousand new members in German-speaking countries during first half of 2012
- Highest member growth for three years
- Verticals represent main growth driver following 28 percent rise
- H1/2012 EBITDA of €9.9 million in spite of increased investments
Hamburg, August 14, 2012 - XING AG, operator of the leading business network in German-speaking countries, has grown in all areas of the business during the first half of the year. Total revenues rose by 12 percent from €32.0 million in H1/2011 to €35.9 million in H1/2012. The Company generated an EBITDA of €9.9 million, which was foreseeably lower than the figure for the first half of 2011 (€11.3 million) due to accelerated investments in future growth.
The Company’s verticals – e-Recruiting, Advertising, and Events – remain key growth drivers with revenues growing by 28 percent from €9.1 million in H1/2011 to €11.7 million during H1/2012. XING’s e-Recruiting division saw revenue growth of 24 percent from €5.5 million during the first half of 2011 to €6.8 million during the period under review. Advertising revenues rose by ten percent from €2.5 million in H1/2011 to €2.8 million in H1/2012. XING AG’s Events business reported more than €28 million in ticket sales, with H1 revenues of €2 million almost doubling the €1.1 million generated during H1/2011. Revenues from paid memberships grew by five percent from €22.5 million in H1/2011 to €23.7 million in H1/2012.
Stefan Gross-Selbeck, CEO at XING AG, said that “XING is growing in all areas of the business. Our growth initiatives are also bearing fruit as the first half of 2012 saw our strongest member growth in the last three years in German-speaking countries.”
During the first half of 2012, 436 thousand people from German-speaking countries registered on www.xing.com, taking membership there to 5.7 million with 12.4 million registered worldwide. 793 thousand XING users are also paying members.
The Company is viewing the second half of 2012 with cautious optimism. Stefan Gross-Selbeck said that “Due to concerns about the economy, we’re currently experiencing a little reluctance among business customers when it comes to planning future HR and marketing budgets. However, we still remain optimistic and expect to increase both revenues and profits.”
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.