XING ends 2010 with an EBITDA increase of 41%
- EBITDA: €16.7 million
- 20% increase in revenues
- 20% more members
- Net result: €7.2 million
Hamburg, March 1, 2011 – Today XING AG presented its preliminary financial results for 2010. The Company recorded an EBITDA of €16.7 million for the 2010 financial year, which equates to a 41% increase over the EBITDA for the 2009 financial year (€11.8 million). Total revenues rose by 20% to €54.3 million compared to €45.1 million in 2009. The 2010 EBITDA margin of 31% was well above the level for 2009 (26%), while the net result amounted to €7.2 million (€-1.7 million). This makes 2010 the best financial year in the company’s history.
Stefan Gross-Selbeck, CEO at XING AG, said: “We’ve seen excellent growth across the board with revenues from recruiting and advertising developing extremely positively.” To quantify this, e-recruiting revenues rose by 61% to €7.1 million (€4.4 million) while advertising revenues increased by 64% to €3.9 million (€2.4 million).
Stefan Gross-Selbeck anticipates additional growth going forward: “Recruiters in Germany are increasingly recognizing the potential social media has in terms of e-recruiting. We expect to see additional strong growth in the future due to our market leadership in this area. Our advertising business is also developing very well and we anticipate strong growth going forward. Our acquisition of amiando allows us to tap into the highly lucrative event management market as an additional source of revenue, meaning that we’re well prepared for the current financial year.”
During the 2010 reporting period, XING managed to vastly increase its member numbers by 20% compared to the previous year. Growth in German-speaking countries has accelerated with the Company reporting 205,000 new members in those countries in Q4 2010 compared to 158,000 in Q4 2009 – an increase of 30%. As of December 31, 2010, XING had 10.5 million members worldwide, 4.5 million of which were from German-speaking countries. On the same date, the platform had 745,000 paying Premium Members, an increase of 8% over the previous year.
The final annual financial statements will be published in our annual report on March 31, 2011.
Please click here for XING AG's preliminary KPI & Statements for FY 2010:
XING is the social network for business professionals. More than 10 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 45,000 specialist groups, while also getting together at networking events. The platform is operated by XING AG, which was founded in Hamburg, Germany, in 2003 and has been publicly listed since 2006. 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.